We all know about the various types of insurance out there: health, auto, life, homeowner’s, property, etc. It seems like a lot of extra fees, until we get into an accident or natural disaster strikes, and we realize how valuable these plans are to our futures. These essential insurance policies are extremely important for protecting you and your family, but what about protecting your business?

While Business Insurance is not as mandatory as others, such as auto Insurance, it can be much more valuable in the long run. There are many people affected whenever something good or bad happens within your business. You, your family, all of your employees and their families, as well as clients can feel the quake of a disaster within your company, and it is your job to keep the aftershock at a minimum. This can be as simple as incorporating business insurance into your overall management strategy from day one.

There are two basic types of insurance for businesses. The first is Professional Liability Insurance. This protects the business against any negligence claims made by clients or patients. Essentially, if your business makes any kind of mistake that negatively affects a client, that client can hold you legally liable and sue you; the damages can be significantly less severe if you have adequate coverage.

The second standard business insurance is called Business Owner’s Policy, or BOP. This is a combination of whatever other types of insurance your business might need: property, casualty, contents, etc. This can also include health insurance for employees. A BOP plan should be reviewed often, as numbers in employment change, and to make sure that there are no gaps in coverage from a California insurance company as your company grows and expands.

It is essential to make sure your business is covered, regardless of its size. There are plenty of random events that can truly shatter your business, or result in losses that could take years to recover from. There are many affordable and comprehensive plans to get you started, and you can always adjust them as the years pass to adapt to your company’s needs. Protect your family, protect your employees and protect your future, by simply insuring your business.


About the author

Ryan is an avid blogger and writer living in San Diego, CA.