Commercial insurance is vital for any business venture in Santa Clarita, CA. It safeguards business entities against liabilities culminating in their daily activities like an injury at the workplace, property damage, and prevailing damage to reputation. Generally, commercial insurance covers mishaps and accidents which can transpire during ongoing business operations. Nonetheless, it’s also prudent to understand what commercial insurance excludes. With this in mind, QuoteBroker Insurance Services is here to share standard commercial insurance exclusions.

Liquor liability

When a given business entity engages in manufacturing, selling, and serving alcohol, it’s exempted from getting protection as there is no liquor liability. Therefore, a company must obtain a separate policy underwritten explicitly for the liquor risk.

Expected or intended damage

This risk is excluded when a given action is undertaken intentionally, and there is a high expectation of damage or injury from the activity. Commercial insurance won’t cushion you when you consciously engage in an action that is susceptible to a claim. For example, when you try to maneuver a forklift through a parking lot to load materials, you accidentally damage a motorcycle blocking your path.

Breach of contract

Your insurer is likely to dishonor any claim arising from a breach of contract. So, honor your contracts to avoid financial losses.

Pollution

When a given company releases contaminants due to its operations, there will be no compensation against such a claim. This exclusion stands irrespective of whether the pollutants get emitted gradually or abruptly.

Flood damage

Flooding isn’t covered by typical commercial insurance. However, you can purchase stand-alone insurance from private carriers or the National Flood Insurance Program (NFIP).

Are you a business owner in Santa Clarita, CA searching for commercial insurance? Please get in touch with QuoteBroker Insurance Services. We will help you navigate commercial insurance by educating you on what it covers and excludes.

QuoteBroker Insurance Services is here to help businesses in the greater Santa Clarita, CA area with all of their insurance needs. If you have questions about commercial insurance or issues with worker’s comp protection, give us a call today.

Make sure you have the appropriate worker’s comp insurance in place

When an employee gets injured on the job there will likely be some financial impact on your company. Even if you are not at fault, a worker’s comp case may determine that you must bear some of the financial impacts. In most cases, your insurance will kick in and you will have some protection from the financial implications.

Because every situation is different, it can be difficult to determine the exact level of coverage that you should have in place. This amount can be determined in a number of different ways. Because of the variability of the amount you will need, along with the importance of this protection, it is a decision worth a lot of consideration.

Meeting with an insurance agent who understands the complexities of commercial insurance is advisable. By turning to a professional, local agent, you will be able to discuss your unique needs. If you find out that your company does not have adequate protection and needs to increase the amount of worker’s comp insurance that your firm carries, they will be able to help. 

Finding the right policy with the appropriate levels of coverage is very important. 

Don’t overlook this important part of protecting your business

Having the right amount of worker’s comp protection is an important part of business insurance. QuoteBroker Insurance Services is here to help business owners in the greater Santa Clarita, CA community with all of their insurance needs. Call today!

When you are running a business in California, you will have a number of worries on your mind on any given day. At the same time, you will be updating and upgrading your business on a regular basis in an effort to increase your revenue stream. When you are doing this, you’ll want to think about updating your California commercial insurance policy.

But when?

At QuoteBroker Insurance Services, we help Santa Clarita, CA business owners keep their commercial insurance policies up to date, and thorough. Here’s when you need to update yours.

Upgrades to Locations or Property

If you are making any updates at all to your space or building, you will need to make sure that those changes will be insured. Your existing commercial policy is covering a certain amount of space and buildings, and any changes will need to be covered as well.

When you are renovating, changing address, downsizing or upsizing in any way, or even adding a new computer system or network, you need insurance. 

You’ll need to update your commercial insurance policy when you update anything in your building or contents because you’ll want them covered. If you own the property, your insurance company may require it.

You Change the Plan of your Business

When you change the entire scope of your business, you’ll need to update your policy. Your California commercial insurance policy covers certain things. When those things change, you need to update the policy, or at least update your insurance broker.

If you are selling new products or doing something entirely different from what you started out with, you’ll need a new commercial insurance policy. Should you change management, add a board of directions, or alter the function of the business in any way, you should update your policy or purchase more insurance.

Get a Quote

When you are making changes to your business, you’ll need changes to your California commercial insurance. At QuoteBroker Insurance Services, we want Santa Clarita, CA business owners to feel secure with thorough commercial insurance policies. Call us for a quote to update your plans today.