Many California companies start with a business owner’s policy (BOP) that bundles basic liability coverage with commercial property and business interruption insurance. A workers’ compensation policy is also essential. However, as time progresses, your business may change, necessitating specialized coverage. Crown Reinas Insurance Agency, serving California, can recommend specialized commercial coverage to protect your investment.

Key Triggers for Specialized Insurance

Some businesses need specialized insurance from the moment they begin operations. If you are in an industry that provides customers with professional advice or services, you need professional liability insurance, also known as an errors and omissions policy. Another instance where you may need a specialized policy is if your company has vans or other vehicles used for business operations. This situation requires a commercial auto policy, as your personal auto insurance won’t provide coverage.

If you sell items, consider product liability insurance. Many businesses don’t initially think this protection is necessary. Yet, a policy can help save your business if one of your products injures a customer or damages their property and you face a lawsuit.

Other specialized policies:

• Cyber insurance for handling sensitive data
• Equipment insurance for owning or leasing construction equipment
• Umbrella insurance for additional liability limits when you have a higher risk profile

Short-Term Policies

Some business activities may require short-term policies before you can sign a contract. The practice is common in the construction industry when building large projects for clients. Typical policies include, but are not limited to, public liability insurance and contractors’ all-risk insurance. Always check contracts to ensure you have the proper protections in place. Without such protections, you won’t be able to sign the contract.

Schedule an appointment with Crown Reinas Insurance Agency, serving California, to review your commercial insurance needs. Our agents will gladly help you customize policies to protect your business investment.