Business Insurance Tips to Obtain the Best Coverage
When reviewing your California workers compensation insurance, these are some things you may want to consider…
Missing Insured’s and Entities must be listed:
At the top of every business insurance policy is the named insured (you or your company). All your legal entities and properties should be listed. Sometimes it’s the name of a sole proprietor, and other times it’s the company’s name. You will need to have a separate operating company, an LLC that owns your real estate, maybe a separated company that employs your workers. In any event, all entities should be insured by all your insurance policies. List all your business entities and hand the list to your insurance agent as soon as possible. Have him confirm that they are all listed because you do not want to be under-insured.
Missing Locations on the policy:
Property insurance policies list the specific locations insured by the policy owner. Commercial general liability policies also schedule covered locations on each policy. Regularly review with your agent the locations included in your policies. We recommend doing this every few months in order to remain the most up to date. Don’t forget vacant land you own are also insurable.
Coverage Limits Too Low:
We rarely see a policy with too much coverage, but at Remland Insurance we will be sure to check if you are carrying the appropriate coverage. Review each location and the amount of property insurance you’re buying. Build a spreadsheet that shows each location, the amount of building coverage you have, business personal property (AKA contents), business income, and other special limits of coverage. Send the spreadsheet to your agent to keep on file so that you both know exactly what is covered on your policy.
There is no such thing as “overkill” when it comes to planning for your California business insurance needs. ”Not enough” can result in disaster and “too” much can put you in the poor house. Be wise and allow us at Remland Insurance to assess all your needs and together we can come up with a strategy that is appropriate for your specific needs. We offer coverage from many commercial insurance companies and promise to find the best coverage for your California business liability insurance.
636 E. Chapman Ave.
Orange CA 92866