Does Commercial Insurance Cover Off-Premises Business Possessions?

In Santa Clarita, CA, just about any home insurance policy is going to provide some protection for the off-premises property. That is, if your laptop is stolen from your car, it’s covered. But, your commercial property insurance might not offer that same protection, or it might offer very limited protection in that regard.

Every business insurance policy is different. Some insurance policies don’t cover any property at all. If your business is all online, for instance, you don’t really have any property to insure, you’re just covering for liability. So a commercial policy is not going to automatically provide protection for the off-premises property.

The only way to be sure is to read your policy, and if you’re not covered, call your agent and see what they can do for you.

You may find that you are offered some protection for off-premises property, but only up to half the limit of the on-premises property. This means that if a truck moving your whole business to a new location is totaled, along with everything in it, you’re only getting half of your investment back. So even if you have some protection, you want to make sure that you have enough.

If you’re shopping around for insurance for your Santa Clarita, CA business, whether it’s a new company or you’re just looking for a new provider, you can call us at WPL Insurance Services, stop by the WPL Insurance Services office, or get in touch through the website. You don’t want to run a business without adequate insurance protection, so get in touch as soon as you can and let’s see what we can do to protect you and your business.

4 Things To Look For In A Commercial Insurance Policy

At WPL Insurance Services in Santa Clarita, CA, we have seen many cases of business owners ending up with a commercial insurance policy that is not the best for their company. Some of them erroneously pick the wrong policy because they were not duly informed before they made the decision.

So, we want to discuss the things to consider before choosing any commercial insurance policy.

1. Limits of liability

This is the maximum amount an insurance company will pay for a single claim no matter what the situation is. The problem with this is that it may not be enough to fix the problem. So, if you feel the limit is too small, you have two options. Find out if you can increase the limit. If not, then you should look for another policy.

2. Deductible Vs Premium

The deductible is the amount of money you pay out of pocket to fix a covered issue before your insurance company pays the remaining part. For example, if you choose a policy that requires $20,000 deductible. When you make a $200,000 claim, you’ll have to pay $20,000 and your insurer will pay the remaining $180,000.

3. Does it cover all your risks?

You must confirm what the policy covers. For instance, if you run a website development company and you don’t need vehicles to carry out your business activities, you don’t need a commercial auto insurance policy. It is a mere waste of money.

4. The credibility of the insurance company

While we pay claims promptly, some insurance companies may delay your payment, hoping to find a hole in your situation so they can decline your claim. That is why you should purchase insurance from only a reputable insurance company.

To summarize this piece, the things to consider before purchasing any commercial insurance policy are:

  • Limits of liability
  • Deductible vs premium
  • Does it cover all your risks and do you need the coverage it provides?
  • Is the insurance company reputable?

For more information, contact us at WPL Insurance Services in Santa Clarita, CA.

Protect Your Business With Commercial Insurance

Your business represents a massive investment of time, hard work, and money. So if anything were to happen to it out of your control, it might set you so far back financially that you are not able to recover. Your business is your livelihood. It may also be the livelihood of employees as well. This is why you need to protect your business with the right commercial insurance. If you operate your business around Santa Clarita, CA, the staff at WPL Insurance Services wants to help connect you with the right coverage for your company.

Property Commercial Insurance

It doesn’t matter if you rent out your place of business, you need property commercial insurance. This goes beyond protecting the physical location. It protects the equipment you have inside. If you rely on computers, machines, or other hardware, it is essential to protect this. What would you do if the equipment went down for a few weeks? It might put you out of business. With the right property insurance, you’ll never be forced to deal with it. 

Worker’s Compensation

When you have employees, you will need to consider worker’s compensation. When injured on the job, you may be liable for their medical expenses and time off. Trying to pay this out of pocket is extremely expensive. Worker’s compensation can help.

It doesn’t matter what kind of business you run or the services you provide. It is essential to protect it with the right form of commercial insurance. Attempting to navigate the world of commercial insurance is not easy, though, which is why you need to turn to WPL Insurance Services for assistance. With experts specializing in commercial insurance, your Santa Clarita, CA business is in excellent hands. All you need to do is pick up your phone and give us a call. 

Commercial Insurance: Protect Your Business

A Santa Clarita, CA business must remain protected at all times. There is no shortage of issues that can come up on an everyday basis, and no company wants to be left playing catch up. Any business that is looking to avoid the usual pitfalls that are associated with a lack of protection will want to make sure that they are meeting with WPL Insurance Services agents. 

The advantages of a commercial insurance policy are numerous. The time has come for a closer look at the protections that they can offer to any business.

Protection of Assets

When a disaster strikes, a business may be left to its own devices for an extended period. This causes their available assets to dwindle. While misfortunes cannot be prevented in most instances, that does not mean that the business should decide to fend for themselves. A commercial insurance policy ensures continued protection of all assets. 

Specific Packages

No two places of business are ever going to be exactly alike, and this is something that the top business owners will always bear in mind. Commercial insurance policies are designed to meet the specific needs of each company and offer proper reassurance. Some may choose an all-encompassing policy. Others may decide on a policy that is a bit more specific. 

Protection From Weather-Related Disasters

These disasters are impossible to avoid and will leave a business without the ability to operate as usual. A commercial insurance policy that protects against fires and earthquakes is pivotal for any California business that is looking to thrive over the short term and the long haul. 

To find out more about the benefits of commercial insurance for a business in Santa Clarita, CA, be sure to contact WPL Insurance Services as soon as possible. Contact our agents for further information and learn how you can get a quote. 

Commercial Insurance is Just Good Business

Owning a business in Santa Clarita, CA for some people might merely be a vocation they chose. For others, it could be about leaving a family legacy but for everyone, it requires a commitment and an investment. Protecting that investment and making a smart commitment to your business is what commercial insurance is all about.

Protecting Your Business

While there are many benefits to business ownership a big concern is the increased risk that is inherent with ownership. Criminals and those will ill intentions now have an even bigger target and one way to dissuade such would-be threats is with commercial insurance from WPL Insurance Services.

When evaluating your business needs, we will sit down with you and discuss your operations and your concerns in detail. Where are your risks, where is your business most vulnerable? Getting the right commercial insurance will mean a policy that covers your assets and your business while offering you peace of mind. Having commercial insurance isn’t merely good business but it is also smart.

It’s Just Smart Business

If you are looking for commercial insurance in the Santa Clarita, CA area or would like to discuss your business insurance needs, we would like to talk to you. Our professional and experienced agents will work with you and your business to find a plan that keeps you protected and your business safe. 

Call or stop by today to find out how WPL Insurance Services can help or to get more information about commercial insurance. It doesn’t matter if you have a family business, a franchise, or work as an independent contractor, commercial insurance is just smart business.

Understanding Renters Insurance in Santa Clarita, CA

When you rent an apartment or home for the first time, you may not be thinking about how to protect your belongings from theft, fire and other events. However, it’s one of the first things you should look into. You can buy renter’s insurance as soon as you move in and may want to compare the cost of insurance before making a final decision on an apartment. Feel free to call your WPL insurance Services agent with any questions you have. In the meantime, here are the basics on renter’s insurance.

What Is Renter’s Insurance?

Renters’ insurance, also called tenants’ insurance, provides some of the same benefits as homeowners’ insurance. However, it doesn’t cover the dwelling structure except for small alterations made by the insured tenant.

What Is Covered by Renter’s Insurance?

One benefit of renters insurance is that it covers you if your apartment becomes damaged by water or fire, as well as any covered peril–you even get temporary living expenses. Similar to many homeowner’s policies, renters insurance includes liability coverage. Liability insurance protects you if someone is hurt while working on your apartment or visiting you. It even pays for legal expenses if you have to go to court.

Damage due to flooding and earthquakes require special policies. They are not covered under renter’s insurance. Ask you WPL Insurances agent about flood and earthquake insurance if you live in an area prone to those hazards.  For flood insurance, check out the National Flood Insurance Program and research whether your apartment lies in a flood zone.

Always review your policy carefully. If a hazard isn’t listed, it’s not covered–don’t assume something is included. For example, If your policy doesn’t say it covers water damage from bad plumbing, you aren’t covered for it.

Who Needs Renter’s Insurance?

You may need personal property coverage to reimburse you if something happens to your belongings or to someone else’s property. It depends on how much your belongings are worth and whether you have enough money to replace everything out-of-pocket. Ask your WPL Insurance Services agent to set up an appointment for your renter’s and other insurance needs in Santa Clarita, CA.

Why Commercial Insurance Protects Your Small Business

If you have a small business in the Santa Clarita, CA area or are looking to begin operation on one, you should consider purchasing commercial insurance. Many small businesses have found this insurance to be beneficial when protecting their dream. WPL Insurance Services has a commercial insurance policy to fit your needed coverage. 

Liability

Every year, thousands of small businesses succumb to the financial strains of liability and lack of insurance. Commercial insurance protects your business by providing liability coverage. Generally, these claims are for the unforeseen accident where a client has suffered some form of bodily injury while on the business property or during services.

Take your liability coverage one step further and include cyber liability. With electronic databases being available and stored through online servers, protecting client data requires coverage from hackers who illegally access your sensitive information for malicious reasons. 

Property Coverage

Damages to your business property can also be covered with a commercial insurance coverage policy. In this portion of your plan, all of your furniture, equipment, and any other property associated with your business is covered if damaged during an unforeseen incident. Whether the damage is the result of theft or something else like fire or vandalism, your property is covered under this policy. Attempting to refurbish property without commercial insurance can be an expense that can change the financial stability of your business.

If your business property includes the use of vehicles, including auto coverage on the policy is essential, as your liability and potential for damage can increase with the use of automobiles. 

Get Covered

Protect your small business investment and your dream by purchasing commercial insurance. WPL Insurance Services proudly serves the Santa Clarita, CA area, providing small businesses commercial insurance that gives them security and peace of mind. 

Who will require me to have commercial insurance?

If you are a small business owner, you likely know that many important decisions need to be made regularly concerning the operations of your business. One important decision that you will need to make is when you are deciding on a new commercial insurance policy. Commercial insurance policies are typically required by a variety of different organizations and choosing the right type of policy is essential.

State Requirements 

If you own a business in which you have an employee, you will be required by the state to carry some level of commercial insurance. The state of California will require that you have a worker’s compensation insurance in place. This type of insurance will ensure that your employees have access to the coverage they need if they are injured while at work.

Bank Requirements 

Another situation in which you will be required to have commercial insurance is if you have a lender or a bank loan. Most small businesses today do try to take advantage of working capital lines of credit and other types of loans. If you do take out a loan, there are certain requirements that need to be met. One requirement you have to meet is to maintain commercial insurance. This will typically include having a full liability policy in place. It will also require having property insurance in place if you take out a business loan to purchase the building.

Even if you do not have any employees or have any other obligations to carry commercial insurance, having insurance for your business is always a good idea. If you have a business in the Santa Clarita, CA area, one great company to speak to would be WPL Insurance Services. When you meet with WPL Insurance Services, the team of professionals can help any Santa Clarita, CA area business owner better understand their insurance needs.

5 Things to Know About Commercial Insurance

Understanding commercial insurance is very important for your Santa Clarita, CA area business. Whether you require this type of insurance, need help determining what level of coverage you should have, or are just looking for protection for your new business, you can get the right policy and the information you need at WPL Insurance Services. Our agents are dedicated to helping you get the right coverage for your business, so you can protect yourself and also have peace of mind. Here are five things you should know about commercial insurance before you get your policy.

  1. Not all businesses need commercial insurance but don’t just assume yours doesn’t.
  2. The type of coverage you need can be very different, depending on the kind of business you have.
  3. Your policy needs will change over time, and you should review and update your policy periodically.
  4. You may need supplemental policies to protect your business and customers fully.
  5. Working with the right agency for your policy can make a big difference in feeling secure.

No matter what kind of company you have or how long you’ve been operating, reach out to WPL Insurance Services for your Santa Clarita, CA area business. We can help you find the right policy for your needs. By working with a number of different companies, we can offer you options to consider. Then you’ll have the knowledge you need and want to make sure you’re choosing the best coverage. Your commercial business will be protected, and so will your customers. It’s a great way to have peace of mind and security, and we want to be a part of that. Get in touch with us today to get started on finding the commercial policy that truly meets the needs and goals of your business.

Types of Commercial Insurance

From the day you start a business as an entrepreneur, you expose yourself to specific risks. A firm is at risk even before the first member of staff is hired. Therefore, the right insurance is needed to protect your company from these risks.

Professional insurers like WPL Insurance Services located in Santa Clarita, CA offer a wide range of commercial insurance coverages that can protect you from different dangers. Listed below are some insurance types your company should acquire as soon as possible.

Property insurance

Whether you own or lease your business working space, you need property insurance to cover your inventory, furniture, signage, and equipment against theft, storm, or fire. Massive destruction events such as earthquakes are not covered in this policy.

Professional liability insurance

This plan protects the business against negligence claims as a result of performance mistakes. There isn’t a one-size-fits-all plan for this coverage. All industries have their own concerns usually considered when making a custom policy.

Workers’ compensation insurance

A workers compensation insurance coverage is designed to cover the disability, medical treatment, and death benefits in case an employee gets injured or dies due to their work. Even if you provide low-risk work, problems like slip-and-fall injuries can result in a pricey claim.

Product liability insurance

In case your company manufactures products for selling on the general market, it’s a must to have product liability insurance. Your company will be protected against damages caused by your products when someone files a lawsuit and is claiming compensation.

Business interruption insurance

When a catastrophic event occurs, business operations can be interrupted. Your business suffers from income loss because the staff wouldn’t be able to work in the office, make sales calls, or manufacture products. The policy compensates your company for its lost income due to these events.

By having suitable insurance in place, your company can avoid financial loss due to catastrophic events or lawsuits. Contact WPL Insurance Services, your Santa Clarita, CA insurer, today for more information. You can also visit our office or reach out to us by phone.