California Small Business Insurance Coverage

As a California contractor you are always looking to make investments in your company to protect and secure your future.  The best way to secure the future of your business is to have a great risk management program.  The right insurance can make sure you are protected from lawsuits, claims, liabilities and the costs associated with any other types of damages.  Often in today’s climate California Contractors are unable to obtain work without the proper insurance.

Before you take on a project or hire any workers you should have the right California Contractors Insurance in place to protect you and to keep you compliant with state regulations.  Having the right insurance coverage will help you get work and hire the right sub contractors.

You have been working hard for years to build your business, and it would be bad if it all came down because of one accident you weren’t prepared for.  Your family and the families of your employees rely on the stability of the company.  You can take ever measure to ensure no accidents will occur but they can still happen.  Make sure you have the right insurance coverage, and you will have a safety net of protection.

Types of California Small Business Insurance:

California Liability Insurance

California Liability Insurance protects your company in case of injury or property damage to a third party during work operations.  Liability insurance protects your company from financial damages that result from a potential suit.

Bodily Injury is when some gets injured at your place of business or one of your employees damage or injure someone at the clients project site.

Property damage can include a wide range of liabilities.  For example if you are an electrician and you put in some faulty wiring and the house burns down.  You liability insurance will cover the costs of the damage.

Products liability insurance coverage protects you if your product or service causes further damage.  For example if you are a plumber and you fix a client pipes, and months later the pipes burst and causes damage.  Your liability insurance will cover the costs of the water damage the other costs.

California Workers Compensation Insurance

California Workers Comp works as a no fault system.  This means that neither the employee or the employer are at fault of the accident, and the benefits are paid regardless.  Because of this structure it allows California Workers Comp claims to be handled quickly so employees are not left hanging with bills.

California requires that any company with at least 1 employee have Workers Compensation coverage for every employee.  In California roofers are required to have Workers Comp even if they don’t have any employees

California Workers Comp pays for full medical benefits, with no time or money limitations.  Medical benefits will include doctor visits, hospital care, dental care, prescriptions, medical devices, and also travel reimbursement.  Employees also will receive wage benefits that are equal to 2/3s their normal weekly salary.

Regardless of the industry that you work in, it is important to have the right insurance coverage to protect your company.  Liability Insurance and Workers Compensation laws and regulations change frequently, it is important to team with a knowledgeable Florida broker to make sure you are getting the right coverage.

 

Source by Shawn Wise

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