Commercial Insurance

Regardless if you are a new California business owner, considering starting a new business, or have been a business owner for many years, commercial insurance is one of the most important financial investments your company can make for its entire life cycle. Operating a business is challenging enough without worrying about considerable financial loss resulting from unforeseen situations. Commercial insurance protects you from common losses including business interruption, property damage, liability, theft, and worker injury.

Required Commercial Insurance Coverage

The bare minimum commercial insurance required by the State of California is Commercial Auto Insurance and Workers’ Compensation Insurance.

Commercial Auto Insurance

Every business-owned vehicle in the state must be protected by commercial auto insurance which includes a minimum amount for property damage liability per accident, bodily injury and death liability for a single person, and bodily injury and death liability for more than a single person.

Workers’ Compensation Insurance

Workers’ Compensation Insurance is required by all businesses with full-time or part-time employees. This type of coverage pays for medical bills for illnesses and work-related injuries.

Recommended Additional Coverage

Having the required insurance is only a small piece of the entire pie. To ensure your business is completely protected, Samko Insurance & Financial Services recommends additional coverages including:

General Liability Insurance

General Liability Insurance protects your business from common risks like customer injuries, property damage, libel, and slander lawsuits. Although not required by the State, most commercial leases required this type of insurance.

Professional Liability Insurance

Also known as Errors and Omissions insurance, Professional Liability Insurance protects specialists whose work is dependent on their expertise. This policy covers client lawsuits resulting from missed deadlines and mistakes.

For more information about these various types of commercial insurance policies, contact Samko Insurance & Financial Services today! Our professionals are standing by ready to help you with all your questions and find a commercial insurance policy that works best for your company and budget!