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Evaluating Business Liability Insurance

2017 September 7 by

Business Liability Insurance – A Wise Choice For Businesses Big and Small

 

No matter what the size of your business, business liability insurance is a wise choice to protect your enterprise from potential liabilities. Business liability insurance offers a wide variety  of coverage options  Evaluating Business Liability Insurancewhich you can tailor to meet the specific needs of your company and its assets. Additionally, business insurance is cost effective and provides financial security and peace of mind for a nominal cost to your business budget.

Examples of coverages you can anticipate having the option to receive with business liability insurance include protection for your corporate offices or retail location in case of damage to the property itself caused by weather, building wear and tear, or even a robbery situation. Business liability insurance also provides protection in cases where claims are brought against you by a customer or associate in cases of errors of omission or perceived negligence. Business liability insurance can even be expanded to include coverage for company vehicles or items such as surety bonds to insure that your local or state taxes are paid in the event of a financial hardship on your company.

Evaluating Business Liability Insurance

 

The evaluation of business liability insurance should be handled just as you would any of your other business decisions – with thoughtful evaluation of your options, their cost benefit analysis, and the consult of trusted advisors. It is a sound move to include a licensed insurance professional as part of your strategic advisory team when choosing the right business liability insurance for your company. An insurance agent will have the expertise, resources, and access to multiple insurance providers necessary to achieve the optimal coverage options and levels of protection at the best possible price.

Profession’s That Need Professional Liability Insurance*

  • Technology Insurance: IT Consulting; Development-Website, Software; Designers-Project, Systems; Support-Security, Hardware/Software Install, Medical Devices.
  • Consulting Insurance: Business, Management, Education, Life Coaches, Event Planners, Marketing, Research, Public Relations, and Labs.
  • Real Estate Insurance: Agent, Broker, Property Management, Auctioneer’s, Consultants, Project Managers, and Appraisers.
  • Creative Insurance: Graphics, Photography, Design, Advertising, Branding, Authors, Producers, and Promoters.
  • Profession’s: Architects, Engineers, Lawyers, Tax Preparers, Interior Design, Inspectors, Transportation, Instructors, and Financial, Agents.
    *Partial List

To learn more about business liability insurance and to receive a free quote, contact us today at 714-258-2800 or 888-725-7776.

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What Are The Benefits of Cyber-security Insurance

2017 August 24 by

Data – Your Company’s Greatest Asset

 

In today’s digital world, businesses, both large and small, are only as strong as their data. From sales reports, financial statements, and inventory lists, to customer records, marketing materials, and future projections – the key operational assets of your business are online and imperative to the operational security and success of your enterprise.California Cyber Website Crime

As digital business assets present such great value in today’s economy, it also opens them up to great risk as online security breaches and data threats become ever-more commonplace. According to analyst firm Cybersecurity Ventures, cyber security breaches are estimated to cost businesses globally $6 trillion annually by 2021. Insuring your business against such a breach and securing its protection against liability is most assuredly a wise decision for today’s business owner.

What is Cybersecurity Insurance?

 

Cybersecurity insurance is a specialized insurance policy purchased by a business owner to protect their company’s digital assets in case of an online security breach. Cybersecurity insurance policies offer a business coverage when financial losses are caused by compromised digital data and network system outages. Certain policies may also protect a company against financial losses incurred by customer liabilities, or reimburse a company for public relations expenses in the event business image repair is required due to a publicized cybersecurity breach.

Benefits of Cybersecurity Insurance

 

The benefits of cybersecurity insurance extend beyond the financial as today’s consumer is very aware of online data threats and in many cases will seek out services and products from businesses which afford the greatest protection of their digital assets. Learning as much as you can about the cybersecurity insurance policy options for your business, the coverage and protections they provide, and their impact on your organization’s long term success is a solid next step for your company’s strategic planning initiatives.

Cyber Insurance Coverage

  • Privacy and Security Liability: If you maintain private employee or customer data like credit card numbers, you are liable if the information slips out because of faults in your systems or theft by hackers or malicious employees. Privacy and security liability coverage also protects you from costly corporate claims from businesses like banks and credit card issuers, who can sue even if the losses don’t occur inside your shop.
  • Crisis Management: Covers costs for restoring lost or corrupted data, and getting your systems back up and running. Some carriers include public relations coverage to help defray the costs of consultants and advertising to rebuild your reputation after an incident.
  • Business Interruption: Denial-of-service attack and lost income coverage kicks in if you lose revenue after an attack or when a service provider, such as a web host, is shut down by a cyber attack, has a glitch or goes out of business. It also helps defray costs of restoring valuable data and repairing systems.
  • Cyber extortion: People threaten your computer systems or web site, then demand money or goods to call off the threat. Extortionists increasingly target small businesses because of their perceived inability to fight back, says Economidis. Cyber extortion policies often cover the settlement and the cost of hiring a security firm to track down the perpetrators

 

To speak with us about your cybersecurity concerns and receive a free consultation and no obligation quote, call 714-258-2800 or 888-725-7776.

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How To Protect Yourself From Uninsured Drivers

2017 August 17 by

Did you know: Uninsured drivers account for 12.6% of all drivers on the road, or approximately 1 in 8 drivers.  Next time you are on the road look around & count the uninsured within eye sight and in the rear view mirror.

 

 

 

 

You have always considered yourself a responsible driver and are proud of the fact that you have never caused a car accident. However, sometimes no matter how careful a driver you are, your path will cross with an irresponsible driver and you will be in an automobile accident that you had no part in creating. What’s even more troubling is that an accident can sometimes occur with an uninsured driver, leaving you potentially exposed to cost of any repairs or medical expense liability arising from the accident.Auto Insurance Comparison

The likelihood of encountering an uninsured is not as small as you might think. According to the Insurance Information Institute, uninsured drivers account for 12.6% of all drivers on the road, or approximately 1 in 8 drivers. This fact means it makes sense to be sure you are protected not only in the event of an accident, but also in the event that the accident is caused by uninsured motorist.

Understanding Your Auto Insurance Protection

 

Auto insurance policies commonly offer comprehensive, collision, theft, and bodily injury coverage as standard policy items. Uninsured coverage may also be a standard provision, depending on your insurance company, or may need to be purchased as an additional rider on an existing policy. It is important to evaluate whether your policy includes coverage protection for uninsured motorists. Be confident that you will be reimbursed for costs incurred if you were to be in an accident with an uninsured driver by having uninsured coverage limits sufficient to cover your vehicle replacement and potential medical expenses for you and others who may be driving with you.

Taking the Next Steps in Evaluating Your Auto Insurance Policy

 

Choosing to work with a trusted knowledgeable insurance professional can be beneficial when evaluating an existing auto insurance policy or considering policy changes as an insurance professional will have access to the insurance policy packages of multiple providers and be able to determine whether under-insured or uninsured motorist coverage is available to you, at what cost, and at what impact to your deductible.

Let us provide you with fresh look at your needs,  free quote and guidance for California auto insurance .  Call 888-725-7776 or 714-258-2800.

 

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Evaluating Your Homeowner’s Policy

2017 August 10 by

The Homeowner and Homeowner’s Insurance

If you are a homeowner, then most likely you have homeowner’s insurance. You know that homeowners insurance protects your home in the case of home damage or some other sort of liability claim made against your property. However, if asked about the basic information found in your policy would you be able to answer the question. Most individuals do not look at their policy information until it is time to make a claim, and instead focus on the monthly cost of their policy and their deductible amount. Knowing a few basics about your insurance policy will not only give you peace of mind, but will also make you an educated consumer if the need for a claim were to arise. Understanding what is not covered is as important as knowing what is covered. Read the exclusions in your insurance policy, when issued the policy is a contract between you and your insurance company

Homeowner’s Insurance Basics

If you own a home and carry a mortgage, then it is a requirement by law that you have a homeowner’s insurance policy to protect the value of the home. Even if you have paid off your mortgage, homeowner’s insurance makes sense as it limits your risk in the case of a liability against your property or damage to your home. According to the Insurance Information Institute, homeowner’s insurance in its most basic policy homeowner's insurance orange county californiaform covers the structure of your home, personal belongings, liability protection, and living expense coverage if you were unable to live in your home due to an insured disaster.

Evaluating Your Policy

Although homeowner’s insurance basics may seem simple, understanding what coverage you have and where gaps in coverage may need to be addressed is important to the financial well-being of you and your family. Meeting with an insurance agent to discuss your policy and its protections can lend great clarity as to what you can expect in the event you need to make a claim. An insurance agent can assist in the evaluation of your policy, determine whether any additional protections are needed, and help you make informed decisions that provide you the greatest protections at the price you can afford.

Additional Homeowner’s Coverage Options:

Need more protection than the basic homeowners insurance policy provides?
You can add additional riders for:

  • High Value Item Coverage

    – a good idea if you own jewelry, artwork, antiques, collectibles or firearms with a total value that exceeds your policy’s maximum pay out for such items.

  • Earthquake or Flood Coverage

    – a must-have if you live in an area prone to such conditions. A standard renter’s insurance policy does not include coverage for a flood or earthquake.

  • Sewer and Drain Back Up Coverage

    – back-ups happen more often than you would think, and they cause a lot of damage when they do.

  • Replacement Value Coverage

    – If you make a claim, you’ll be reimbursed for the full replacement cost of your items – rather than the depreciated cash value of your items.

  • Home Business Coverage

    – Most insurance policies offer very little coverage for business equipment. If you work from home, consider adding a home business rider to boost your equipment and liability coverage.

  • Business Merchandise Coverage

    – If you store your business’ inventory at home, an additional rider will be needed to insure it properly.

Call us at 714-258-2800 or 888-725-7776 to get your homeowner’s insurance questions answered and to receive a no obligation quote today.

 

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Understanding Professional Liability Insurance

2017 August 2 by

Business owners have at their disposal multiple insurance coverage options to protect their company in the case of a liability or claim made against them. For those businesses which provide professional services and strategic advice as their commodity to their customer, professional liability insurance is a sound insurance option. Also called errors and omissions insurance, professional liability insurance provides protection when a customer brings a claim for perceived lack of performance or negligence. Such business types which benefit from professional liability insurance include independent contractors, financial advisories, technology companies, consulting firms, and legal offices, among others

Protections Offered by Professional Liability Insurance

 

Protections offered under professional liability insurance include Small Business Insurance Coveragesfinancial protection and reimbursement for claims resulting from libel or slander, negligence, copyright infringement, and other areas of perceived professional misconduct. Financial protections of a professional liability insurance policy may extend to cover legal costs, reputation repair, and operational loss due to a filed claim. Additionally, professional liability insurance may cover damages that arise from erroneous or misinformation supplied to a customer which result in a financial damages claim.

Professional liability insurance is not meant to protect the fraudulent business; however, and does not offer protection when extreme negligence, dishonest acts, false advertising, and other illegal business practices are committed.

Do You Need Professional Liability Insurance?

 

Understanding the specific benefits of professional liability insurance for your business and how a policy can protect your company’s future is best achieved by enlisting the assistance of an insurance industry professional with expertise in the particulars of professional liability insurance. An insurance industry professional can explain what coverages you will receive, which claims are not protected, and the financial impacts as it relates to your specific business needs.

To receive a professional liability insurance consultation and no-obligation policy quote, call us today at 714-258-2800 or 888-725-7776.

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