Maybe you’ve done everything in your power to ensure 100% protection of your staff and customers, but accidents or other awful scenarios may come up from nowhere, potentially causing your business significant financial loss if you’re the one at fault. Yet, it’s impossible to concentrate 100% on the everyday running of your business to yield optimum returns if you’re always concerned about the unforeseeable events that may lead to financial damages. Fortunately, business insurance California entrepreneurs usually obtain for optimal coverage will mitigate against any such risks in good time.
Enterprises differ in the way they operate and their respective industries, making it vital that you think through your choice of insurance coverage, such as:
1. Tow Truck Company Insurance
The tow truck insurance California businesses enjoy nowadays entail programs developed to address the particular requirements of this sector. The insurance has several offerings for your selection based on specific requirements and finances, including security for customers’ cars parked at your shop or garage. You also want to protect customer vehicles against any possible on-tow incidences. It makes sense to include liability insurance for the protection of third-parties in case you injure them or damage their property. Equally important, are you and your tow vehicle passengers under a medical cover, and is your business truck insured?
2. Do You Have Contractors Insurance
You’re required by law to carry contractors insurance as a general contractor, subcontractor, or normal contractor. Handyman services, home builders, carpenters, landscapers, plumbers, and cleaners are among the many contractors that need this insurance coverage.
As a contractor, you’ll need general liability insurance for financial protection against the risk of litigation primarily due to problems with workmanship that end up in bodily injury or property loss/destruction. Your clients need you to have this insurance as proof of your financial capacity to pay them if a claim is filed. Worker’s compensation insurance and contractor’s bond are also important prerequisites for your type of venture.
3. Bar Insurance Protection
Restaurant and bar operations require insurance coverage that’s unique to their specific industry. Pretty much anybody can be sued today, so it’s vital that the special risks associated with such ventures are well mitigated against. Many such ventures do serve alcoholic beverages, cranking up the risks you face to a record high!
If in the bar business, ascertain full insurance protection, and be aware of any policy deficits that may present a bigger risk. The following issues are a possible liability: DJ or live entertainment, security team, wheelchair accessibility, bar staff alcohol safety awareness, duct installation for the kitchen, and any afterhours service.
Obtain the right business insurance in California for lasting peace of mind!