Business Insurance in Roseville, CA

Regardless of sector or size, a business’s operations, finances and mission can be abruptly derailed by accidents or errors. Even if you take all the necessary steps to mitigate risks and exposures to keep your workplace safe, a single mistake or lapse in attention can have dire consequences. All businesses need to assess potential hazards and minimize risk levels by maintaining a sufficient insurance portfolio.

How Does Business Insurance Work?

In general, business insurance does not refer to a single specific policy. Most companies combine several types of coverage to form a robust and diverse safety net that can provide financial protection from many common risks. After compiling this insurance package, businesses must ensure their coverage remains active by paying regular premiums (e.g., monthly, annually).

What Business Insurance Do I Need?

Although many businesses may have unique risks and exposures, several types of coverage are advisable for most companies. For an adequate insurance portfolio, it’s a good idea to begin by purchasing the following core coverages:

• General liability insurance—This coverage focuses on financially protecting a business if it is found liable for third-party losses arising from the following incidents:
  • Bodily injury
• • Property damage
• • Personal and advertising injury (e.g., slander, libel, copyright infringement, false advertising)

• Commercial property insurance—This coverage can help policyholders recoup losses sustained by a company’s physical property, such as the following:
  • Structures
  • Equipment
  • Inventory
  • Furniture
  • Signage
  • Landscaping

• Business interruption insurance—This coverage may provide financial assistance for costs arising from a temporary pause in a business’s regular operations, including the following:
  • Rent/mortgage payments
• • Lost income
• • Employee payroll
• • Tax and loan payments
• • Temporary relocation

• Workers’ compensation insurance—This coverage is required by law for most employers and can help pay for the following expenses resulting from work-related illnesses and injuries:
  • Medical treatment
• • Lost or reduced wages
• • Disability benefits
• • Death benefits
• • Legal costs (e.g., representation, judgments, settlements)

In addition to the aforementioned policies, it’s also essential for employers to analyze their operations and determine if additional insurance may be necessary to fill any coverage gaps. Common enhancements for a business’s insurance portfolio may include the following:

How Much Business Insurance Do I Need?

A business’s insurance needs may vary significantly. Company leaders should take time to assess risks and exposures and ensure that a business insurance portfolio satisfies the following potential needs:

• Commercial auto insurance protects a business financially if vehicles used for company operations are involved in accidents or otherwise sustain damage.

• Cyber liability insurance can provide crucial financial resources in response to a data breach or other cyber incident.

• Errors and omissions insurance may help pay for losses if a policyholder is accused of making a professional error, such as providing goods or services that were inadequate, incomplete or late.

• Employment practices liability insurance may insulate an employer from losses if a current, former or prospective employee files a lawsuit alleging improper workplace etiquette, such as discrimination, harassment or wrongful termination.
• Commercial umbrella insurance can provide secondary coverage if the liability limits of other policies, such as general liability and commercial auto, are exhausted.

How to Get Business Insurance

At S & G Mitchell Insurance Agency, our experts are well-equipped to help your business assess its coverage needs and address them with optimal policies. We will thoroughly analyze your company’s risks and exposures, and ensure that you are protected with optimal insurance solutions. Contact us today to get started.