How does umbrella insurance protect my business?

Every business in Pismo Beach, CA that plans on remaining competitive in any industry needs to have umbrella insurance. The policy offers extra protection from liabilities that could threaten the stability of your business. The policy extends over other policies such as general liability, professional liability, commercial auto insurance, etc. If you’re wondering whether you need to buy umbrella insurance for your business, Neff & Associates Insurance Services Inc will answer all the questions you might have.

Commercial property

While any business can benefit from umbrella insurance, businesses that run on commercial properties can benefit more from umbrella insurance. Commercial property means inviting other people into the business property. If someone gets injured on this property, you risk getting sued for medical expenses, lost income, and pain and suffering by the victim. Your general liability might not be adequate to cover all the medical expenses, and that’s where commercial umbrella insurance comes in.

Employees

If you or your employees work on people’s property, such as renovating homes or businesses, your business is at risk of getting sued for accidental property damage or injuries. Without adequate liability coverage, you might be forced to pay the funds out of pocket.

Government contracts

If you’re a contractor in Pismo Beach, CA, you might miss out on some government contracts if you do not have umbrella insurance. This policy helps provide assurance to your clients that you will be responsible for any damages or injuries that might result from your business operations.

Risky business

 You need umbrella insurance more if you run a risky business. Almost all businesses carry a form of risk unless it is a home-based sole proprietorship without direct contact with clients, employees, or subcontractors.  Even if this is your case, you can still be sued by your clients, and professional liability or general liability may not always be adequate to cover the legal fees.

To learn more about commercial umbrella insurance, contact Neff & Associates Insurance Services Inc, and we will be happy to answer any questions you might have.

Why is Auto Insurance Necessary when in California?

People that are in the Pismo Beach, CA area will likely want to own a car. With a vehicle, it will be much easier to get around the community and other areas. When you are shopping for a car, it is important that you assess your insurance needs. This coverage is necessary in the state of California for various reasons. 

Needed to Comply with Requirements

A reason that drivers in the state of California need to have auto insurance is that it is required to comply with requirements. Drivers that want to use any public road are going to be required to carry liability insurance whenever they are out driving. Also, if you have taken out a car loan, you will need a full collision and comprehensive plan until the loan is repaid. Having coverage will keep you in compliance.

Insurance Provides Helpful Coverage

You also will want to have an auto insurance plan because it can offer helpful protection. Those that are going to purchase a car will want to know that it is covered against risks that could result in a loss. Further, they will want to know they have support if they are found at fault in a vehicle accident. With auto coverage, you can have the coverage needed to have comfort that you and your car are protected.

People that are shopping for a car in Pismo Beach, CA will need to assess their insurance needs. If you are looking for an insurance plan here, calling Neff & Associates Insurance Services Inc can be beneficial. The team with Neff & Associates Insurance Services Inc will give you and support that is needed to build a plan that can protect you, your vehicle, and ensure you remain in compliance with various requirements.