Does Your Small Business Need Insurance?

The short answer to this is: Yes! While the long answer will take a little more time to dissect, perhaps the more important question to ask is: What kind of insurance coverage does my small business need? That’s where Alex Rue can help! There are many different types of insurance available to help protect small businesses, their owner(s) and employees, so let’s take a look at some of these small business insurance solutions

Small Business Insurance Solutions

Business Owner’s Policy (BOP)

In California, small business owners can save big with a BOP. If you’re a small to medium-sized business that’s considered “low-risk”, you may be able to qualify for a BOP package at a reduced rate. This will include general liability insurance (that will protect your business and personal assets) and property insurance (for physical assets that are leased/owned). It might also include casualty coverage for loss of business income and extra expenses caused by an insured peril or emergency.

Commercial Auto/Truck Insurance 

If your company owns autos, commercial auto insurance is recommended to ensure your work cars, SUVs, vans and trucks from damage and collisions. Commercial truck insurance is also available for companies with small to mid-sized fleets.

Workers’ Compensation Insurance

If you plan on hiring employees to work at your small business, California requires you to obtain workers’ compensation insurance. This small business insurance protects the owner/employer from lawsuits initiated by workers injured on the job, as well as provides income, medical benefits, and rehabilitative services for workers injured on the job. 

Group Benefits

A majority of Americans receive their (and their family’s) health benefits through their employer’s plan. In addition to being an employee recruiting and retention tool, there are also often tax incentives and tax credits to small businesses that offer benefits

Umbrella Liability 

If you are a sole proprietorship or partnership, we recommend an umbrella liability policy to help fill in the gaps and protect your small business in areas that your other insurance policies will not. 

Of course, these are just a few of the small business insurance solutions available. For more information and to discuss what options will work best for you and your small business, feel free to contact us. We want to help your business thrive and prosper through even the toughest times, which is why Alex and “The Rue Crew” are dedicated to being your one-stop-shop for all your insurance needs!

Alex Rue