For small to medium-sized business owners, purchasing a few commercial insurance policies feels like preemptive thinking. You can purchase San Diego business property insurance if you have a certain property that is critical to your business. However, you might need an additional policy that protects your business if your operations require you to travel far from your primary location. Here are a few commercial policies you may need to consider.
1. Inland Marine Insurance
Property insurance often ties you to the physical location of your business and property, which is a fine policy for some businesses. However, it leaves gaps for businesses like:
- Construction companies
- Wedding photographers
An inland marine insurance policy can be acquired to supplement property coverage for those professionals because of its floater policy. This is because it can pay for the property it covers even when said property is moving from one location to another.
This policy also covers:
- Mobile equipment
- Valuable documents
- Expensive artwork
2. Non-Owned and Hired Auto Insurance (NOHA)
If an opportunity has arisen to meet a client you’ve been hoping to meet for a long time and you’re sending one of your employees to the meeting, any accident that occurs involving the employee’s car outside of work is his or her responsibility. However, when on the clock, the driver is your employee. For this reason, you can be held responsible for accidents that occur during and after the business errands. However, an NOHA insurance policy covers you and your employees from accidents occurring during the normal working hours.
This policy can be handy if you:
- Leave cars for VIP visitors
- Have a sales team that drives to clients
- Ask your employees to run errands in their personal vehicles
- Rent cars on business trips
3. Commercial Auto Insurance
Imagine your basic work is to offer consultation policies, and you get a client in another city. You decide to drive to the next city in the company car, but you get into a small accident on the way. The worst part of this issue is that most personal automobile insurance policies don’t cover work-related driving that encompasses business trips and errands. For this reason, you need commercial auto insurance in San Diego.
4. Special Event Insurance
When your business starts growing, you could find it hosting outside events such as:
- Golf outings
- Trade shows
- Holiday parties
These events can be fun and great for your business until someone gets hurt. Your general liability insurance won’t cover this unless the events are part of your normal business operations. This is where special event insurance comes in.
5. Special Property Insurance
For the cleaning business, a property insurance gap can be a problem. Most of these operations take place at the client’s location. For this reason, many opt for special property insurance coverage because it offers:
- Coverage for alteration, forgery, securities, money, and theft
- Coverage for lost income in the event of loss of a job
- Coverage for property in transit
You can get your questions answered concerning the best insurance policy for your business by seeking an insurance expert from American Tri-Star. In addition to commercial insurance, we also offer affordable health, home, bond, and auto insurance. San Diego residents can rely on us for their insurance needs. Call 619-272-2100 today to speak with one of our friendly representatives and receive a free quote.