As a business owner, you’re providing valuable services or products to people every day. You’re also accepting unique risks that require specialized insurance to protect yourself and your business. An OC insurance company can assist you in attaining the right insurance portfolio.
Foundation of Business Insurance
Of course, the exact insurance lines you need depends on the type of business you own. In general, these are the products that are recommended:
- Business owners package, also known as “BOP”;
- Property insurance;
- Commercial auto insurance;
- Worker’s compensation insurance; and
- Liability insurance.
Keep in mind that even if your business is home-based, you need property insurance as your homeowner’s insurance doesn’t cover your business operations. Commercial auto is something you should get even if you use your own private vehicle. Chances are that on occasion, you use it for business purposes. If you’re a single-person business, you don’t necessarily need worker’s compensation insurance, but this – like everything – requires and in-depth analysis of your particular situation.
Ways To Enhance Your Insurance Portfolio
In addition to the above-mentioned items, it can be necessary to get business interruption, cyber liability and management liability insurance. As for the latter, errors and omissions is highly important. If you store third-party information somewhere online in a cloud or such, cyber liability insurance is an absolute must.
You need an insurance package that is tailored to your unique situation. An expert for OC insurance has the knowledge necessary to pick the right insurance products for you so you can breathe more freely while minding your own business.