What types of insurance are available to businesses?

Businesses in California have a variety of insurance options available to them. The most common types of insurance for businesses are property and casualty, workers’ compensation, liability, business owner’s policy, and commercial auto insurance. Property and casualty insurance covers physical assets, including buildings, equipment, inventory, and valuable papers. This type of insurance covers against loss or damage from fire, windstorms, and other natural disasters, as well as theft, vandalism, and certain other risks. Workers’ compensation is required for businesses with employees. It protects them from liability for workplace injuries. It also covers lost wages, medical expenses, and disability benefits for employees injured during the course of their employment. Liability insurance protects businesses from claims of negligence or wrongdoing. It covers legal expenses and potential settlements in the event of a lawsuit. Business owner’s policy combines property and casualty insurance with liability coverage, so it is a convenient option for businesses that need both types of coverage. Commercial auto insurance protects businesses from financial losses caused by vehicle-related liability claims, such as damage to property, bodily injury, and medical expenses. It covers company-owned vehicles as well as vehicles driven by employees. All businesses in California should assess their specific needs and determine the type and level of insurance that is right for them. Knowing the different types of insurance available can help businesses make informed decisions to best protect their assets and operations.

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What types of insurance are available to businesses?

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