Commercial Insurance

Business insurance is often a combination of several different types of coverage sold together as a single contract. Commonly, this is called a Businessowners Policy (BOP). This combines property and liability insurance as well as other additional coverages such as business income insurance. Specific coverages can be added for an additional premium. Learn about the major coverages and some of the more popular added coverages so you can work with your independent agent to put together a policy for your company.

Major Coverages

  1. Property Insurance – This compensates the business if the property utilized for the company is lost or damaged due to a common peril–this may include structures as well as furnishings, inventory, material, etc.
  2. Liability Insurance – This protects the business from a claim filed by a customer, visitor, or other person or business when the business is at-fault.
  3. Business Auto Insurance – This provides coverage for automobiles owned by a business
  4. Workers Compensation Insurance – This coverage pays for medical care and some lost wages of an employee who is injured during the course of employment.

Additional Types of Business Coverage

  1. Errors and Omissions Insurance (Professional Liability) – This insurance is needed for businesses that give advice, provide care or represent the needs of others. This protects the business if they are sued claiming that the business did not perform the job properly and as such caused an injury.
  2. Employment Practices Liability Insurance – Protects an employer if they are legally liable for violating an employee’s civil or other legal rights.
  3. Directors and Officers Liability Insurance – Protects directors and officers if there was a lawsuit claiming they mismanaged the business.
  4. Key Employee Insurance – A type of life or disability insurance that compensates a business if a key employee died or became disabled.
  5. Umbrella Policy – Provides coverage that is over and above other liability coverage–kicks in if there was a catastrophic event.

At Wissink Agency, we can cover all of your business insurance needs including commercial property, commercial vehicle, business owner policies, professional liability, general liability, workers compensation and more. No matter what you need for commercial or business insurance, ISU-Wissink Insurance is here for you. Servicing all of Los Angeles and Orange Counties, California– Call us today at 310-390-3318.

California License Number 652703