Types of Business Insurance Every Entrepreneur Should Know

Starting and running a business comes with both challenges and rewards. At Bolt Insurance, we understand the importance of maintaining what entrepreneurs and small business owners have worked hard to build. Having business insurance can make a significant difference when your operations face disruptions. Here are some key types of coverage every California business owner should consider.

General Liability Insurance

General liability insurance is a foundational policy for most businesses. It may cover your company if someone claims you caused bodily injury, property damage or personal injury. This coverage can assist with legal costs and settlements for businesses with a physical location or those providing services at client sites.

Commercial Property Insurance

Your buildings, equipment, inventory, and furniture can face losses due to fire, theft, vandalism or natural disasters. Commercial property insurance may provide coverage for these events. Be sure to check your policy for exclusions, such as those related to wildfires and earthquakes, and consider extra options if needed.

Workers’ Compensation Insurance

Workers’ compensation insurance is generally required for most businesses with employees. It can cover medical costs and lost income if an employee has a work-related injury or illness. It may also help with legal claims arising from workplace incidents.

Professional Liability Insurance

Also known as errors and omissions insurance, professional liability insurance is crucial for businesses that offer advice or services. This policy can address claims of negligence, mistakes or failure to deliver promised services.

Business Interruption Insurance

If a covered event temporarily closes your business, this type of insurance may help replace lost income and cover expenses. This is often especially helpful for small businesses that rely on daily operations to maintain financial stability.

How Our Team Can Help

Bolt Insurance can review your business, discuss coverage options and find policies that fit your needs and budget. Contact us today to get started.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.