A business in Burbank, California, big or small, is inevitable to risks and errors. At some point in your daily operations, there will be mistakes made. Whether you run a digital marketing agency, a clothing store, or a small construction firm, there is a chance that something might go wrong.
Some of the cases might involved a customer tripping over your broken tiles or your delivery man colliding with another vehicle. Regardless of the mistake, your small business is at stake. Hence, you should opt for protection. Small business insurances can be your fighting sword for penalties, damages, and legal fees as a result of tragic events.
But how to determine the best small business insurance? In this article, we will discuss the types of small business insurance employers can get.
What is small business insurance?
Small business insurance is similar to any other insurance except that it is intended for small businesses. It is recommended to buy business insurances to protect oneself or the company from legal liability.
Small business insurance is required by law. As a business owner, it is essential that you buy business insurance like unemployment insurance, disability insurance, and of course, worker’s compensation. These vary from state to state.
The best small business insurance for you
Not all small business insurance is considered the same. It depends on the type of small business you run. Determining the right coverage for your small business is a complex process. You will need to consider factors like your assets, state laws, liabilities you need to be protected against, and more.
Here is a list of essential insurance every small business owner must have. It may or may not be what your business will need.
General Business Liability Insurance
This type of business insurance protects you from claims relating to personal injuries, product-related liabilities, and property damage.
Professional Liability Insurance
This type of business insurance protects you from negligence claims.
Worker’s Compensation Insurance
This type of insurance protects your rights as an employee in case of injury or sickness.
Commercial Auto Insurance
This protects your vehicles that are used in business.
Be insured now!
Logos Insure handles your insurance needs with professionalism and knowledge in the field. Get help from genuine people who understand your industry and can respond to your inquiries quickly.
Be insured now! We offer a range of business insurances to protect you and your small business.
Logos Insurance Services is now serving Burbank, California Citizens to assist you in determining what type of insurance fits your small business and, if so, what types of policy coverages would be most appropriate for your budget and circumstances. Call us at (818) 649-2267 or visit our website www.logosinsure.com to learn more about our offered insurance services.
What Does An Umbrella Insurance Cover for Burbank, California Citizens?
What is umbrella insurance?
Umbrella insurance is a type of insurance that you can add over existing insurance policies such as home or auto insurances. It provides additional coverage, suppose that your current insurance policy has reached its limits. Umbrella insurance covers injuries, property damages, and personal liability cases.
What does an umbrella insurance policy cover?
Umbrella insurance provides coverage above the limitations of your existing insurance policies, as well as for claims that liability policies may not cover. It generally includes coverage for the following:
Personal liability cases
While it does not cover these instances:
International or criminal omissions
Who needs the umbrella insurance policy?
Almost anybody can benefit from umbrella insurance. This is because high-cost incidents can happen to anyone. Other members of your household, such as your spouse, children, and other relatives who live in your home but do not have auto or property insurance in their names, are usually covered under umbrella insurance.
Excess liability insurance and umbrella insurance are similar but not identical. This insurance only covers the same risks as your underlying policy and has the same limitations and exclusions.
How can umbrella insurance protect you?
It is recommended to buy umbrella coverage if you have a lot of assets. If you are sued for something, your liability insurance from your auto and homeowners insurance plans might not be enough. Umbrella insurance, in the end, protects you from losing everything in the event of a lawsuit.
Whether or not the case is meritless, a lengthy court battle is unpleasant and can potentially destroy a person's reputation. Buying an umbrella coverage will not relieve the stress, but it can help you protect all you have worked so hard for.
Logos Insurance Services is now serving Burbank, California Citizens assist you in determining what type of insurance fits your small business and, if so, what types of policy coverages would be most appropriate for your budget and circumstances. Call us at (818) 649-2267 or visit our website www.logosinsure.com to learn more about our offered insurance services.
Workers’ compensation insurance is one out of the several business insurance essentials a business should have for Burbank, California Citizens. Suppose one of your employees gets sick or injured from a work-related cause. In that case, the workers’ comp insurance helps in medical treatment, lost wages, funeral costs, disability benefits, and more. This type of insurance helps employees get back on track.
Are you wondering how to get workers’ compensation insurance? It is easy to get one! In this article, we will discuss how to get workers’ comp insurance. Scroll down to know more.
How to get workers’ compensation insurance?
Private workers’ comp insurance companies
The state regulates private workers’ compensation insurance. Still, they set their own cost and control customer approval. Get better quotes and excellent customer service with private workers’ comp insurances.
State-funded workers’ comp insurance
There is state-funded workers’ comp insurance if you cannot afford private insurances. These programs help to get the coverage needed for your employees.
Competitive state-funded workers’ comp insurance
A competitive state-funded workers’ comp insurance is when your state offers private insurance and state programs to cover your protection. They are generally competing with one another.
Monopolistic state-funded workers’ comp insurance
In Ohio, Wyoming, Washington, and North Dakota, private insurance companies are prohibited to sell their products. These monopolistic states require business employers to directly purchase workers’ comp insurances from a government-operated insurance fund.
Through an agent or broker
Insurance companies often resort to agents or brokers to sell their products. The benefit of getting insurance from these individuals is discussing the product in person. An agent or broker can meet with you and help you understand the coverage you may need for your business.
Agents and brokers are not the same. An agent sells insurance products from different insurance companies while an insurance broker represents their customers. Brokers ask for insurance quotes and costs from insurance companies on your behalf. They also select coverage limits and submit applications under your name.
How to get the best workers’ comp insurance
Purchasing workers' compensation insurance can be a difficult task. There are numerous aspects to consider when it comes to state regulations.
That is why it's crucial to work with a workers' compensation insurance firm with a lot of experience. We are here to assist you, no matter how big or little your company is. Request a quote today to discover more about how we can help you secure your company.
Logos Insurance Services is now serving Burbank, California Citizens to assist you in getting workers’ compensation insurance for your business. Get a quote today! Call us at (818) 649-2267 or visit our website www.logosinsure.com to learn more about our offered insurance services.