California is a beautiful state and many businesses have chosen to call it home. Like all states, some types of commercial insurance are required by most businesses. Having an independent insurance agent who helps you to make sure your business is in compliance is important for keeping your business free from fines and legal issues. At T.D. McNeil Insurance Services in Folsom, CA we focus on our customers. We believe in providing personal service. Our customer’s needs come first, and we will make sure you have the coverage that is mandated and what you actually need.
In California, two types of business insurance are required commercial auto insurance and workers’ compensation.
Commercial auto insurance
If your business owns any vehicles you need to cover them with commercial auto insurance. In California, the required liability coverage is 15/30/5. You must have $15,000 for one person who gets hurt in an accident with a total per accident of $30,000. The property damage amount is $5,000 which is painfully low.
California requires employers to cover their workers with workers’ compensation insurance. Even if your business only has one employee and even if your main office is not in the state, if you have people working in California, they must be covered.
It is good to be in compliance with the law and have the required coverages, but there are other types of commercial insurance that most businesses should have to be protected.
- Commercial building insurance protects a lot more than just the building your business occupies. It is something that even a renter should have. It protects your machinery, inventory, raw materials, records, and office equipment.
- Commercial liability insurance protects your assets from legal actions. Businesses are particularly vulnerable to being sued, and you really need this protection.
If you have commercial insurance questions or needs, contact T.D. McNeil Insurance Service in Folsom, CA.