Business Insurance Basics: Are You Adequately Covered?

Posted on: July 1, 2015 by Signature Insurance Group

Operating a business and defending against all of its potential liability risks requires a number of coverages. If you’re like most Americans, you probably don’t know exactly what each component consists of and what coverages to include in your policy. In order to be sure your business is fully protected, install a Business Insurance Orange County plan. Here are three basic policies that can help to offer comprehensive coverage for your company.

• Business Owners Policy (BOP) – This general policy includes a variety of basic coverages including property insurance, business interruption insurance, and liability protection. Property insurance secures your building and its contents while business insurance covers the direct loss of income from a disaster such as a fire, flood, or earthquake. Last but not least, liability protection covers any legal obligations your business might face due to your product or process causing harm to another. What’s more, these plans can be customized and adjusted to fit your specific needs.
• Difference in Conditions- According to Adjusters International, this policy is a form of property insurance that is purchased in conjunction with an underlying commercial property policy in order to protect your business in the event of perils such as earthquakes and flooding. Depending on the location of your business and the natural risks your area is prone to, this coverage is essential.
• Workers Compensation- This coverage is essential to you and your employees. Out of pocket costs for medical expenses related to work injury can be substantial and can devastate your business. This insurance can handle the expenses related to the treatment and recovery of any employee injured on the job. This includes but is not limited to consultation, treatment, medication, recovery, etc. and California law requires that you have this policy regardless of how many employees you might have.

At Signature Insurance Group, we understand the potential risk exposures your business could face. In addition to the coverages mentioned above, we offer Property and Casualty Insurance, Business Interruption, Commercial Auto, Management Liability, Cyber Liability, and Surety and Bonds.

With over 40 years of experience, we specialize in providing quality insurance solutions tailored to your specific needs. For more information about our business lines, as well as our other offerings, contact us today at (855) 972-9437.

Posted in: Business Insurance

Tagged: BOP Orange County Business Insurance Orange County CA Workers Compensation