Thousand Oaks Insurance Agent Releases ‘Insurance Considerations for Small Businesses’
-The appropriate types of business insurance are critical for protecting personal and business assets and the business owner’s future, even for start-up businesses. Life insurance is an important component but it’s only part of the picture and Cary Runnells of Thousand Oaks State Farm Insurance Agency recently released the summary “Insurance Considerations for Small Businesses” to help business owners understand the best insurance solutions.
Insurance protects businesses on several levels from auto insurance for company vehicles, commercial and professional liability, loss, and protecting employees and key staff members. The types of business insurance include:
- Worker’s compensation, which is required by law in California, helps protect employees and the business from the high cost of workplace injuries.
- Disability insurance helps cover income when someone is unable to work due to injury or illness.
- Life insurance for business owners and other key employees. The Thousand Oaks insurance agent, Cary Runnells, said life insurance helps keep a business solvent in the event of the death of a key staff member.
- Auto insurance for business and commercial fleets protects from the risk of traffic accidents, property damage and personal injury
- Commercial liability and professional liability that helps businesses survive legal actions that claim the business has been negligent or made an error or omission.
- Loss control protection against some of the most common causes of business losses
- Employment practices liability protects a business from the legal costs resulting from allegations of discrimination, wrongful termination, or sexual harassment.
Other insurance coverage can include group life insurance and group medical insurance and Completed Operations Liability that protects against legal costs due to injury or property damage after a project has been completed.
Starting a business can be a big risk and an economic challenge. One of the first things on the list is to sit down with your insurance agent and analyze your business, including the type of business, growth projections and financial projections to be sure you are adequately protected every step of the way. It’s important to work with an agent who can help make sure you have the right insurance plans with the flexibility to scale with your business. Flexible insurance that is easily scaled from start-up through the various stages of growth is cost-effective.
The agents at the Cary Runnels State Farm Insurance Agency in Thousand Oaks can also help make sure you have a complete life insurance, auto and homeowner’s policies to reduce both business and personal risk. Depending on how the business is structured some solely-owned businesses or partnerships can leave the business owners personally liable. A consultation with your insurance agent helps make sure you are sufficiently insured and protected.
The Cary Runnells Insurance Agency in Thousand Oaks provides a wide selection of business insurance along with life, auto, renters, home, ranch and farm insurance. The experienced and licensed staff can help with long term financial planning. The agency serves Thousand Oaks and surrounding communities including Simi Valley, Westlake Village, Oak Park, Newbury Park, Agoura Hills, Moorpark, Camarillo and more.