Owning a business takes lots of work and time, and entrepreneurs all over the world are leaving their 9-5 jobs to gain more financial independence and freedom. One of the biggest blunders most business owners make is not purchasing adequate Commercial Insurance in Murrieta CA to help keep their investment of money and time safe. Though it may seem like an unnecessary expense, insurance can help provide protection from things that are outside of a business owners control. Here are the most popular commercial insurance products, and a look at how they can provide protection when disaster strikes.
Liability Insurance
Companies that operate a store front that is accessible to the public are responsible for any injuries a person may sustain when they are on the businesses property. If a customer falls or becomes injured, it can lead to thousands of dollars in medical bills that will fall on the owner. Liability insurance removes the worry associated with customer injuries, as it will provide money to the injured party for their medical expenses and prevent the company from experiencing financial devastation.
Directors and Officers Coverage
Upper management is trusted to make wise decisions that will not hurt the company. Directors and officers coverage helps provide a security blanket in case an upper-level employee engages in activities that harm the company’s image or financial position. In addition to offering financial support, it will also pay for legal aid if an issue leads to a court case.
Product Liability
Businesses that manufacture products that are sold to the public are liable for any injuries that may result due to poor manufacturing techniques. No matter how much faith a business owner may have in their manufacturing process, it is still possible for products to malfunction and cause a customer to sustain injury or illness. Product liability insurance will help cover the cost of any medical coverage that is needed and can also provide financial support for a product recall.
Operating a company without the necessary Commercial Insurance in Murrieta CA can lead to disaster. The agents at Barranca Insurance Services Inc. can help by providing a business owner with quality coverage that will provide support when unexpected problems arise. Contact them today to get a free quote, and take the first step in creating stability for any business.
