What are the most common types of commercial insurance in California?

Commercial insurance is one of the most important things for your business. You should know that this kind of insurance would protect your business from damages done to your property, lawsuits, cost of liabilities, and other common risks. This insurance is also known as business insurance and you must know that today you can find multiple types of commercial insurance. In this post, we are going to talk about the most common types of business insurance plans in California. 

Before we tell you about the types of commercial insurance we want you to know that any small business or large enterprise would need to get this insurance as they can get a lot of benefits against them. If you are a businessman then you can easily save yourself from accidents, legal issues, and injuries that happen in your workplace and would provide you with secure protection. You must get this kind of insurance even if your business isn’t required to have it by the law. 

What are the common types of commercial small business insurance plans?

Here we have discussed some of the most common types of insurance that you can get today:

General liability insurance

The most common type of commercial insurance is California general liability insurance. This type of insurance can protect you and cover all common risks like customer injuries or any other damages in your premises or because of your business. Businesses that practice leases and contracts would need this kind of insurance.

Errors and Omissions insurance 

This is also a common type of business insurance. You must know that it is also known as professional liability insurance. This kind of insurance is going to protect you from all sorts of claims or lawsuits in case you miss a deadline, or delivery, or make a mistake that results in financial loss to the customer.

Cyber Liability Insurance

Another type of commercial liability insurance in California is cyber liability insurance. Here you should know that this plan would protect you from any financial losses in case of any data breaches or cyber-attacks/hacks on your company!

Fidelity Bonds

You would be surprised to know that fidelity bonds are also considered to be a type of commercial insurance. This type of insurance/bond can provide compensation to the customer in case your employee steals from them or damages them in any other way. 

Commercial auto insurance 

You also need commercial insurance for the vehicles that are owned by your company. You can get coverage for any loss in accidents to the car, passenger, or delivery staff. You can also get coverage in case of theft or vandalism.

Property insurance

Commercial property insurance in California is another type that would provide you with all sorts of coverage for damages to your business property. You could cover losses incurred to the structure of the property or inventories. You can also get add-ons to this kind of insurance!

The cost of all these plans is different and would depend on the size of your business and many other factors!