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Types of business insurance
Bodily Injury
Property Damage
Harassment
Discrimination
Directors & Officers Liability
Errors and Omissions (E&O)
Advertising Injury
Personal Injury
Workers Compensation
A comprehensive general liability insurance policy should help keep you in business with -
Legal expenses
Medical expenses
Settlement expenses
Our business insurance experts have helped many businesses in the San Diego, CA and surrounding areas. Get in touch, we can help you too.
What does it cost?
It’s difficult to come up with any tangible estimate as it varies greatly based on the coverage you need, type of business, revenue earned, exposure profile of the business; what other additional policies you have, etc.
But, by way of example - let's take a small marketing services firm (office workers), that has 5 employees (including one owner - 100%).
All the employees work indoors, do not use their cars for work purposes, no goods to move, has a company informational website (but no real cyber liability exposure), has clients than typically pay about $20,000 per year in fees to the firm. The firm needs $1M million in coverage and $2 million in aggregate coverage. A firm such as this can expect to pay somewhere between $500 and $2,500 a year in general liability insurance coverage. This is an example only - actual costs will vary.
Your state, local county regulations and rule could affect the costs of insurance. To learn more from our experts in the San Diego, CA and surrounding areas, get in touch with us.
What coverage do you need?
The coverage you will need depends on:
The type of business you are in
The perceived risk associated with it
Your business location is also another factor that is taken into consideration. As an example, some states tend to award more in damages to plaintiffs claiming personal injury than others. It’s best to speak with a licensed insurance broker to determine the best coverage for your business.
A licensed insurance broker can discuss with you if you fall into the lower risk category. If so, you may want to consider a Business Owner’s Policy (BOP). This policy would combine both your general liability and property insurance (and possibly other coverages) at a multiple policy, cost-effective rate.
To learn more from our experts in the San Diego, CA and surrounding areas, get in touch with us.
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