Business insurance, or sometimes called commercial business insurance, protects your small business from an accident or mistakes that involve your business property, your customers or your employees. The idea behind business insurance is simple; you pay a certain insurance premium, so in return, you do not have to pay large amounts after a mistake or an accident. Here at H&M Insurance Agency, we provide the most affordable small business insurance in San Diego. Let our team tailor small business insurance policy based on the specific needs of your business.
H&M Insurance is here to guard your interests and advise you on how to get complete insurance coverage at a lower price. Suppose you want additional coverage for property, liability, perils, or conditions otherwise excluded. In that case, you can purchase them as endorsements to a standard policy or as separate policies.
Business Insurance Coverage Options by H&M Insurance Agency
We offer insurance solutions for many small businesses like retail stores, restaurants, motels and hotels, supermarkets/grocery stores, barber/beauty salons, bakeries, garage operations, car washes, etc. Depending on what you want to cover, choose the package that will not leave anything out.
Choosing the right business insurance plan for your business can be very confusing, so we have created many different options and programs to meet your insurance needs. Insurance for small businesses in San Diego is designed to provide business owners with a package of coverage with options necessary to meet various insurance needs. We offer several types of business insurance:
GENERAL LIABILITY INSURANCE
It is usually the first policy purchased by business owners. It offers financial protection if you are held responsible for some of the most common accidents that can occur, like customer injury, property damage, and libel or slander.
BUSINESS OWNER’S POLICY (BOP)
BOP usually combines the two most common types of insurance for business – general liability coverage, commercial property insurance, and includes all the coverage available in those two types of insurance, plus you can save by bundling two policies into one.
COMMERCIAL AUTO INSURANCE
If you use your vehicle for work, commercial auto insurance is very important to protect your business from unexpected expenses if you or your employee is involved in a work-related auto accident.
BUSINESS INTERRUPTION INSURANCE
Also known as business income insurance, will help your small business after some unfortunate event while its facility is either closed because of the disaster or in the process of being rebuilt after it.
BUSINESS PROPERTY INSURANCE
Commercial property insurance will help you pay for repairs, construction, and related expenses for the building, goods, gear, inventory, or other items. You have an option to add business income coverage and equipment breakdown.
PROFESSIONAL LIABILITY INSURANCE
Also known as errors and omissions insurance, will help you defend your business against a negligence claim made by the client and damages awarded in such a civil lawsuit. It will protect you even if the claim proves to be groundless.
This form of insurance will protect your business from generally all the risks related to the information technology infrastructure, information governance liability, information privacy, and all activities related to them. Also known as data breach insurance.
It is coverage for loss of money, securities, or other assets resulting from employee theft, certain types of fraud (like forgery), theft of property from the premises, and impersonation fraud.
TOOLS AND EQUIPMENT INSURANCE
If your equipment is essential to your business, then this type of policy is just right for you. If your costly equipment is stolen from your job site, from a trailer, or someone damaged your equipment, having this type of insurance is helpful.
EQUIPMENT BREAKDOWN INSURANCE
Machinery malfunction can really be devastating, especially if your business depends on properly functioning equipment. This insurance will help pay for the repair or replacement of the damaged equipment, lost income, and spoiled inventory during that time.
Most states require workers’ comp, so it serves to protect you and your employees after a workplace injury. It can help cover medical treatments, lost wages, death benefits, and employer liability.
INLAND MARINE COVERAGE
This coverage protects businesses that travel or complete work away from the office. It covers property you transport from one location to another, property stored off-site at a warehouse or storage facility, or properties stored in moveable vehicles.
EMPLOYMENT PRACTICES LIABILITY (EPL)
In case your employee sues your business for reasons such as discrimination, wrongful termination, or harassment, the EPL will cover the cost of the lawsuit, even if you are not at fault.
LIQUOR LIABILITY INSURANCE
This is a coverage of the businesses that generate a profit from alcohol. It can be added as an endorsement to a general liability policy or purchased as a separate policy.
COMMERCIAL UMBRELLA INSURANCE
It is extra coverage that helps you pay for the costs that exceed liability policy limits. These costs usually include legal expenses or medical bills. It is an extra layer of liability protection on top of your other insurance policies.
SURETY AND FIDELITY BONDS
These are the forms of insurance policies issued by licensed insurance companies and are used to protect against losses and damages and manage risk in commercial business transactions. They serve as a guarantee of future work performance.
We Offer Business Insurance Tailored to Industry Specifics
Reasons to Hire Herriott & Mijaolovic as Business Insurance Provider
We understand that every business is unique, which translates into the need for a unique insurance solution. You can always add different coverage depending on the specific risks associated with your company. H&M Insurance will create a solution for you based on the size of your company and the number of employees. We can be your reliable and trustworthy partners for years.
- Our company has more than 50 years of experience;
- We offer the best possible rates and affordable prices;
- We are the partners with some of the most prominent insurance companies;
- We minimize risks, reduce costs, and deliver quality coverage based on your individual insurance needs;
- We are a family-owned company;
- We are specialized in San Diego and California markets;
- Requesting our quotes is fast, easy, and free.
Do I Need a Small Business Insurance?
The vast majority of small businesses suffer from financial losses, so having minimum insurance is the business-saver. General liability and property insurance is good place to start. If your company uses cars, commercial auto insurance is mandatory. Also, if you have employees, workers’ comp is mandatory.
How Much is Business Insurance in California?
Business insurance cost depends on various factors:
- Type of assets
- Number of employees
- Property owned
- Payroll size
- Types of coverage(s)
- History of claims
Depending on the area where your business is located and the risks you want to cover, you need to select the type of insurance that would be the best solution for you – and the price depends on it. You can pick up a particular one or combine several to ensure that you are fully covered from all the potential financial losses. The best way to get the information on the prices is to call the H&M Insurance agency for a free quote at (619) 296-0005.
How Much Liability Insurance for Business is Enough?
Starting a business requires great investments. As a business owner, you are aware that you need to protect your business against great financial losses and unforeseen circumstances. Success comes from balancing risks and losses. When you keep those risks to a minimum, your business is safe. This is the time when business liability insurance comes to play to cover your company adequately.
When a business is growing, the coverage should be greater, too. Any important event such as entering a new market or relocating should make you reevaluate your liability policy. It is not easy to evaluate the level of risk because there are so many factors involved, and you also need to think about the future.
How to Lower Small Business Insurance Cost?
Apart from minimizing the risks, there are some additional ways of lowering the premiums for the small business:
- Bundle insurance policies – Saving the money on the business insurance by bundling essential coverages into one policy – for example, BOP combines business liability insurance and commercial property insurance.
- Pay your entire premium upfront – Of course that you can pay your premium monthly, but if you pay it entirely at once, you could get a discount.
- Make your business safe – Managing your risks will reduce the likelihood of accidents at your work location and on the road.
Do I Need a Business Insurance for LLC?
Whereas the LLC protects your personal assets in the event of a suit, you must know that your business’s assets are still at risk. So, the answer is: Yes. The right type of business insurance will protect your business’s assets.
What Type of Insurance Do I Need for a Rental Company in California?
Insurance for rental businesses in California only requires third-party liability coverage. However, many rental company owners choose to add some other coverages or policies over and above what is required by law.
What is the Difference Between General Liability and Professional Liability Insurance?
General liability insurance is insurance where your business is covered in case of third-party claims. For example, suppose your clients get hurt or damage their property at your place of business. In that case, you do not have to worry because your insurance will pay for damages and injuries.
With professional liability insurance, you are covered in cases you did something that you should not have (an error) or something you should have done but did not (an omission). The defense costs of the claim are covered, even in cases when the claim is groundless.
Searching “Business Insurance Near Me?” Get Expert Advice at Herriott & Mijaolovic Agency
Herriott & Mijaolovic independent insurance agency is dedicated to finding you the best possible policy according to your business needs. We are partners with some of the most prominent insurance providers like Hartford, Next, Progressive, Hiscox, Nationwide, Geico, and many more. Let us take care of your business and help you narrow down the search. Fill out the online quote form and discover how we could save you money. You can email us or just call (619) 296-0005 for more information on the best insurance for your company.