California General Liability Coverage and why You Need it!

When you start a new business for the first time, the process and requirements you must abide by can be overwhelming. Permits, licenses, and leases are just some of things you must be responsible for as a business owner. One of the most important aspects of starting a company is obtaining California business general liability insurance quotes. Not only must businesses’ with employees have workers comp insurance as required by California state law, but you must also go beyond those requirements to fully insure your company; and every business has different insurance needs. So where do you start and how do you know what you truly need? One type of business insurance quote that is deemed essential is general liability coverage. Let’s dive into what general liability insurance is and how it protects your business.

Basics of California General Liability

General Liability is one of the most common business insurance policies because it is vital to almost any business regardless of the type of company you have. It covers injuries, property damage, and medical payments of a third party. A third party is someone who does not work for your business but was on your business site, such as a customer. In the event that a third party sues you for an accident at your business, general liability will also cover defense and settlement costs. Since lawsuits are common in today’s world, the possibility of getting sued is strong for any business and can result in great financial loss that hinders a business’ success and even survival.

Why You Need General Liability

As mentioned, California general liability can be vital in the event of a big claim. Because of this, it is a good investment considering annual premiums are much less costly compared to the defense cost, settlements, and medical costs you would have to pay out of pocket if a large claim were to arise. You can simplify your assessment of what coverage you need by calculating what risks face your business and which particular risk you would not be able to or want to pay for on your own. This will help you identify the specific coverage you will need for your insurance quotes. Of course you will have a Commercial insurance broker guiding you through this process.

Coverage is usually determined by a number of factors such as the type of business you own. Another factor is your business location. As each state has different requirements for general liability insurance, they also vary in how they may favor the plaintiffs claiming personal injury during a lawsuit.

Other General Liability Coverage Options

Besides California General Liability, there are other liability quotes you can purchase instead of, or in addition to, general liability that may better fit your particular business operations. These include:

  1. Professional Liability- covers your business in the event of negligence, errors, or malpractice by you or your employees. This is good for any business that provides a service and/or advice to their clients.
  2. Business Owners Policy (BOP)-  combines all the typical business insurance coverage such as general liability, commercial property, and business income into one package policy and is a good fit for small business owners.
  3. Product Liability- covers against injuries of a third party as a result of one of your defective products. This coverage helps protect manufacturers, distributors, retailers, and wholesalers.


Starting the Process

As we have discussed, there are many things to consider. To get started in obtaining liability insurance, first assess your risk. Take into consideration the type of business you have, where you are located, and what coverage you need that you cannot pay on your own should a claim occur. Next, find a knowledgeable and reputable agent to assist you through this process. Our agents here at JVRC Insurance Services can help you find what coverages you need for your unique business and who will make sure your risks are covered properly. Make sure you communicate with your insurance agent during the shopping process to find business insurance quotes with the best rates. JVRC Insurance Services works with many insurance companies so we can find you the best rate and benefits for your insurance needs. Lastly, make sure you re-assess every year. As your business continues to grow, so does your risk and insurance needs. A JVRC Insurance agent can help you re-assess your coverage to make sure your insurance coverage keeps up with your growing business. The insurance process does not have to be overwhelming for you and can be made simple with our help and expertise. You deserve to put your time and energy into starting and running your business while we will make sure it is fully protected and meeting insurance requirements!