What kind of insurance do I need for my business?

In California, business owners are required to purchase certain types of insurance to protect their business. This type of insurance is especially important in the case of a business where there are employees, independent contractors, and customers. If your business employs people, you need to purchase Workers’ Compensation Insurance. This type of insurance provides benefits to employees who become injured or sick on the job. It also provides financial protection to the employer in the case of a workplace accident or injury. In addition, you should also purchase liability insurance. This type of insurance covers legal costs should a customer, employee, or independent contractor sue your business for damages or injuries. It can even cover errors in advice or negligence related to your business. If you own a product-based business, you may need product liability insurance. This type of insurance covers the cost of any lawsuits related to products sold by your business. Finally, you need to make sure that you have sufficient property insurance. This type of insurance will cover the damage to or destruction of the physical property owned by your business. When in doubt, consult a qualified insurance agent to determine which types of insurance are best for your business in California.

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