Insurance policies may seem unnecessary and expensive for a small business. However, these policies can be very beneficial if situations arise where the insurance coverage is necessary. To ensure that the insurance policy will be a benefit to your business, you should ensure that it has adequate coverage limits and covers events that may affect your particular business. An Orange County CA business attorney can review a policy and provide advice about how it applies to your business.
What should a small business insurance policy include?
What should be included in a small business insurance policy depends upon the type of business in which you are engaged and the extent of assets utilized by the business. In general, the insurance policy should cover anything that could cause liability for the business. Examples include:
- Property damage
- Errors and negligent acts of employees
- Injuries to customers and visitors
- Damage caused by weather and acts of God
If you lack insurance coverage or your policy does not address issues that arise in your business, then it could be financially difficult for your business if you are liable for certain expenses and losses. Insurance is especially important in the increasingly litigious world that we live in.
How can an attorney help?
An Orange County CA business attorney can review a policy to help you understand how the policy protects your business and whether there are any limitations. An attorney can work with your insurer to develop policy terms that are beneficial for your business. This will give you added peace of mind to know that the threat to your business is reduced.
An attorney can also help you enforce terms of your policy and require your insurer to provide the coverage they are supposed to provide.