Northern California Property Insurance

Northern California property insurance can cover many different components of a business. Electronics, files, furniture and product inventory are all protected with a Northern California property insurance policy. Property insurance often makes people think of large objects like buildings and infrastructure. Yet it’s often the smallest physical components of a business that are most critical. Thus the importance of a comprehensive Northern California property insurance policy. With it, your company will be protected from the replacement cost of all of your vital property. As always, regional and local laws can make a difference, so make sure your policy is tailored to your area of operation: San Francisco property insurance, Sacramento property insurance, or Napa property insurance. Cost is always a concern. Fortunately, Northern California property insurance is scalable to the extent of property you want to cover so it can easily be controlled to fit needs and budgets. Northern California property insurance is available to business owners with property to insure. Even those who lease space will want to consider the value of furniture, equipment, inventory and files.

Facets of Commercial Auto Insurance

There are numerous types of California Business Insurance. Some are optional, some are extraneous. Few are as fundamental as commercial auto coverage. It provides protection for business-owned or leased commercial cars and passenger trucks. Policies typically include collision, damage, and property coverage and personal damage to others. These policies apply to companies of all sizes. With new CSA regulations, this has never been more relevant.

Just as a driver needs auto insurance to operate a personal vehicle, commercial auto insurance is crucial to protecting your business-owned or leased vehicles. If you, or any of your employees, have an accident in your business’s car, you may be liable for bodily injuries, lost wages or any damage caused.

Typical California commercial auto insurance coverage includes:

Bodily Injury - Coverage for damages that involve bodily injury to others for which you become responsible under law.

Property Damage - Coverage for damage to property of others for which you become responsible under law.

Medical Payments – Coverage for reasonable and necessary medical expenses and funeral services for those who are accidentally injured while in your automobile or while getting into or out of your automobile.

Other obtainable coverages:

Comprehensive – Protection for the loss of or damage to your vehicle and its equipment from all causes except collision, subject to the deductible on the policy.

Collision – Protection for the collision damage to your automobile and its equipment, subject to the deductible on the policy.

Uninsured Motorist – Coverage allows you to recover bodily injury damages due to an accident where the other party does not have insurance, and is found legally liable.

Underinsured Motorist – Coverage allows you to recover bodily injury damages due to an accident where the other party is found legally liable and does not have adequate liability limits.

Hired Auto Liability - Covers liability for automobiles hired under contract on behalf of or loaned to the named insured.

Hired Auto Physical Damage – Coverage for an automobile of any type, hired, borrowed or leased on a short term basis for use in the insured’s business.

Employer’s Non-Ownership Liability – Coverage for a private-passenger automobile used in the business of the named insured by any person, or the occasional and infrequent use of a commercial automobile in the business by any of your employees.

There are many aspects to commercial auto insurance, and consulting with a professional is crucial to achieve the optimal results for business owners and employees.

7 Steps to Managing Risk of California Workers Comp

There are 7 key steps to safeguarding employees and managing your risk of California workers comp.

1. Screen Well Before Hiring
2. Keep Safety a Priority Through Training Programs
3. Give Employees More Benefits
4. Take Care of Your Employees
5. Investigate Thoroughly
6. Manage Claims to Closure
7. Keep your Ex-Mod Low

For more, read the full article!

 

Business Income & Extra Expense Insurance

Business income and extra expense insurance coverage identifies risks that could disrupt the operation of your business and provides a plan to respond to those risks. If you’re like many California small business owners, you may only think “liability and property damage” when you think about California business insurance. But have you considered the consequences of a major fire, beyond rebuilding and restocking your business? For example, if your business were shut down for months while you rebuilt, where would your customers go? Will they come back when you’re ready for them? Does your insurance cover temporary relocation elsewhere so you can keep your customers?
Consult your insurance professional to create a continuity plan for your business.

Differences between “Occurrence” Policies and “Claims Made” Policies

Some policies are offered in two forms: occurrence and claims made. The differences are few, yet important A claims made policy has the following attributes:

• Covers incidents on or after the policy effective date, so long as they are reported during the policy term.
• The policy may retroactively cover incidents occurring before the policy effective date.
• The cost of this type of coverage increases incidentally over the first 5 years of the policy, and may continue to increase, depending on the clams made against the insured.

An occurrence policy covers incidents during the policy effective period, even if the claims regarding an incident are made against the insured after the policy is in force. For this reason, Occurrence Coverage can be expensive.

Bay Area Retirement Plans as Corporate Growth Stimulus

Supremely relevant to a tumultuous economic period, Northern California retirement plans show your employees that you value their future while encouraging responsible saving. The most popular type of employer-sponsored retirement plan is the 401k, which allows employees to save for their retirement by having a certain percentage of their paycheck withheld by their employer and deposited into the company’s plan. Some employers match part or all of their employees’ deposits. Making this kind of investment in human capital can often result in marked impacts on employee retention rates and satisfaction. All Bay Area employers should consider retirement plans and evaluate their usefulness for both retention and as a stimulus to attract new and talented help.

Northern California Professional Liability Insurance

What is PLI? Professional Liability Insurance is a Northern California insurance service that should be carried by any Bay Area professional performing in the service industry, such as a doctor, attorney, or accountant. It’s an insurance policy that will respond to a loss that covers the insured for perceived or real “negligence” and “errors or omissions” that injure their clients. If you are a Bay Area architect or structural engineer working on designing multi-million dollar homes or other structures, you need to have this type of insurance in the event structural defects are detected. Consultants, sub-contractors, and all professionals performing services should consider this type of Northern California insurance.