If you are a business owner in California it is imperative that you understand state-mandated requirements for insurance to ensure that you don’t run afoul of the law and risk possible monetary fines and other penalties. To that end, there are two types of commercial insurance that are required by California – workers’ compensation insurance and commercial auto insurance. First, workers’ compensation insurance is needed for businesses with one or more full-time or part-time employees and helps pay for the medical bills and other costs associated with workplace injuries and illnesses. Second, any California business owned vehicles must have commercial auto insurance with at least the state minimums for liability coverage. It is important for business owners to understand that if you require your employees to drive their personal vehicles for work functions, then their personal auto policies are unlikely to cover any accidents. Thus, supplementing your employee’s personal auto insurance policies with hired and non-owned coverage is key.
In addition to the two required insurance policies in California, business owners may want to consider additional coverages such as cyber liability insurance or professional liability insurance with both examples offering additional benefits to businesses that are victims of cyber attacks or malfeasance. Given that no two situations are the same, we recommend that business owners contact the friendly and professional team at Neff & Associates Insurance Services Inc to learn about all your commercial insurance options. We will take the time to learn about your business so that we can make a personalized recommendation. Conveniently located in Pismo Beach, CA give us a call today to schedule your no-obligation consultation.