Joseph Insurance BrokerWe Medi Care
If you own a small business, protecting it with the right insurance coverage is essential. Here's what every small business owner needs to understand.
The foundation of any business insurance program. Covers bodily injury and property damage claims made against your business by third parties. Also covers personal and advertising injury (libel, slander, copyright infringement).
Example: A customer slips and falls at your location and sues your business.
Covers your business property — building, equipment, inventory, furniture — against fire, theft, vandalism, and certain weather events.
Many small businesses purchase a Business Owners Policy, which bundles GL and commercial property into one affordable policy — often with additional endorsements available.
Required by California law for all businesses with employees. Covers medical costs and lost wages for employees injured on the job. Peter can shop rates across multiple carriers.
Essential for service-based businesses, consultants, agents, and professionals. Covers claims arising from professional mistakes, negligence, or failures.
Costs vary widely depending on industry, revenue, number of employees, and coverage limits. A basic GL policy for a small service business may start at $500–$1,500/year. Let Peter run the numbers for your specific situation.