Monday, August 20, 2012

Protect Your Business with the Right Insurance

Having the right kind of insurance is critical to your business and multiple policies should be in place before you even open your doors. These policies should also be reviewed every year or whenever a business change occurs, like a move or a new product.

Allied Brokers offers all of the following kinds of business insurance:

Commercial Business Insurance

Commercial Property Insurance policies protect your office and its contents from damage caused by natural disasters, fires, or vandalism. They are either all- inclusive or risk specific.

Product Liability Insurance is necessary if you manufacture or sell products- it safeguards you if a product defect injures someone.

For protection against lawsuits related to negligence claims, you need to consider both General Liability Insurance and Professional Liability Insurance.

Other types of insurance your business might need include:

  • Coverage that protects Directors and Officers from personal liability
  • Key Executive Life Insurance
  • Business Interruption (covers lost profits and expenses)
  • Commercial Vehicle Insurance
  • Website Insurance (protects you from legal claims)

Employer-Related Insurance

Workers' Compensation Insurance and Unemployment Insurance (under certain conditions) are mandatory. California also requires employers to provide Disability Insurance to employees who are unable to work because of illness or injury. Some tips to make sure you get the correct insurance for your business:
  • Don't under-insure, but don't over-insure either.
  • Assess your liability risk honestly and thoroughly.
  • Ask your lawyer for advice.
  • Get quotes from several companies.
  • Ask how you can minimize risk and premiums.
Allied Brokers is your ally if you encounter legal problems because of an accident or injury that happens to someone on your property, to an employee doing business for you, or if a service you provide causes harm to someone. Avoid lawsuits- come in and let us help figure out the best kind of insurance to protect your business!  

Visit our website at www.alliedbrokers.com for information about all the types of insurance we offer. Or call 1-888-505-7988 for a free rate quote.  

Information for this article was provided courtesy of Orlando, Mitts, Moore & Company financial planners: 408 278-0300

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