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.

How Much Home Insurance Do You Need?

Home insurance can be difficult to price out if you are not sure how to do it or unsure of how much you need. Not only that, it can be complicated to figure out because of conflicting strategies that people use. It is one of those things that people get easily confused about and a lot of people actually do not have the right amount of insurance for. It is a mistake that can be costly at the moment as you pay the bill for it or in the future if you ever need it in Santa Clarita, CA. Use this guide from WPL Insurance Services to make sure you get the right amount of coverage.

What to look for with home insurance 

There are two ways to look at home insurance: the cost to rebuild and the cost of the items you own. Those are the two things you want to take into consideration when thinking of coverage amounts. It may be hard to figure out the value of what you own but you should do a rough estimation and list out the most expensive items in the home. Next, when considering the amount to rebuild, you should not think of this as the same as the value of the home. The value can change over time from higher to lower depending on the market. Because of this, it is unreliable. Instead, you want to know how much it would cost to rebuild so you can rebuild if it is necessary for the situation.

Now that you know what amount of coverage you should be getting, the next step is to actually get the coverage. Be sure to reach out to us today at WPL Insurance Services, serving Santa Clarita, CA, to get your free quote and get coverage as soon as possible. 

Protect Your Transportation: Protect Your Car

Being in an accident can impact so many areas of your life that having good insurance is like carrying a safety net that catches you when you fall. When you insure your vehicle, you protect your ability to get back to work and move on with the rest of your life. You have fewer risks to face and more support getting back on your feet. Policies that offer full coverage will include collision, comprehensive, liability, medical, and much more. There are a full array of options available when choosing auto insurance. Being educated on these topics is the most important aspect. Knowing what events you are covered for and not can help you when the time comes to file a claim. Make sure that your vehicle has the proper protection so you will be covered, whether you are in LA or Santa Clarita, CA.

How to Protect Your Vehicle

Accidents happen; many of their long-term consequences can be reduced with wise planning ahead of time that softens the blow of the unexpected. This means taking a little time and discussing your auto insurance needs with experienced and knowledgeable agents like ours at WPL Insurance Services. We’ll show you the most up-to-date information on insurance policies available from companies you recognize, like The Hartford, Nationwide, Travelers, Progressive, MetLife, and many more.

We are a local company serving the Santa Clarita, CA area and we know California law. For instance, did you know that state law requires that good drivers who meet state requirements qualify for a respectable discount on their premiums? So your insurance planning will not only serve to protect you should the unfortunate ever occur in the future, but it will also reward you now for your driving record. This is great news that many drivers aren’t aware of, and we may have even more tips like that for you, so contact us today. The agents at WPL Insurance Services can work with you to help you build an auto insurance policy that fits your needs. Contact us for a quote.

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.

Will my home insurance cover my jewelry and collectibles?

At WPL Insurance Services, we help our clients in Santa Clarita, CA protect their homes against losses so that they can live their day-to-day lives knowing that if anything were to happen, their valuables would be protected. The protection covers losses that happen because of fire, burglary, and vandalism, generally, and can cover everything from clothing to your dining room set. Items like jewelry, artwork and other kinds of collectibles are considered unique and may not have enough coverage.

Many people may assume that their jewelry is automatically covered under their policies, as long as they make sure to keep an inventory and the receipts to prove the value of the jewelry. However, jewelry and other kinds of higher-end valuables often receive limited coverage under a basic homeowners insurance policy, which is meant to insure standard losses.

The limitations are usually spelled out in the contract, which has the basic policy limits and which also often details the limited coverage on extraordinary items like jewelry and artwork. It is essential to go over your contract with your insurance agent very carefully. You may also be better off having an appraisal on hand so that you have additional proof of the value of your items. If you need more coverage, you may be able to purchase a policy with higher limits, or you may find it easier to obtain coverage that specifically protects your most valuable items.

Some of the most important items to you may not have adequate coverage. If you would like to obtain more protection for your jewelry or other collectibles in Santa Clarita, CA, please call WPL Insurance Services today.

How to Choose the Right Auto Coverage

Choosing the right auto insurance in Santa Clarita, CA will help you save money and make sure you are covered in the event of an accident.

When choosing car insurance, look at your overall financial picture. You want to be able to afford your deductible and premiums comfortably, but if you are a homeowner or have a lot of financial assets, you may want to increase your liability coverage over what’s required. If you are financing your car, the loan or leasing company may require you to have both comprehensive and collision coverage on your policy. You may also want to add gap coverage if you are still paying off your car so you aren’t stuck paying for a car you can no longer drive.

There are some things you may not need to add to your coverage, depending on your situation. If you have health insurance, you may not need to add medical payments coverage. Check to see if your health coverage will pay for any accident-related medical expenses.

Other factors for determining car insurance include your driving ability. If you are a cautious driver, you can have a higher deductible. Your driving habits can also play a role. If you have a heavy commute, you may want more protection.

When you choose insurance, you will have to set the right deductible. A higher deductible means you will pay more out of pocket if you are in a car accident, but also that your premium will be lower.

Make sure to do an annual review of your car insurance with your agent at WPL Insurance Services. If you have changed jobs or work at home, you may be driving less and may qualify for a lower premium.

Contact an agent at WPL Insurance Services in Santa Clarita, CA to get a quote on auto insurance or try our online rating tool.


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.



Does Your Home Need an Umbrella Plan?

When it rains, it pours. Even if you’re a few years away from retirement, your home insurance might not hold up against disaster. Even if the house and car are fully paid off, you might still be in for a rude awakening. WPL Insurance Services wants to keep you informed about umbrella insurance plans. Your Santa Clarita, CA home might be safe—but is it safe enough?

What is Umbrella Insurance?

Umbrella insurance is a personal excess liability amount which protects you beyond your homeowner’s insurance plan, safeguarding your bank account from big disasters. Designed to give you extra liability protection during lawsuits, financial assistance after damages and asset protection, umbrella insurance is your go-to option for long-term, comprehensive support.

Why Do You Need an Umbrella Policy?

In essence: Umbrella insurance is a secondary form of insurance. You still need to have a primary homeowner’s insurance policy. You’ll also need to have an underlying liability policy. These policies pay out on claims when disaster strikes.

Sometimes, however, disasters can cost more than these plans can cover. If this happens, your umbrella insurance policy will “kick in,” safeguarding your finances from financial turmoil.

What Can an Umbrella Policy Protect Me From?

Umbrella insurance can protect you from litigation which spawns from property damage, injuries, and associated legal defense costs. If someone is hurt on your property, or if their personal property is damaged at your house, you may need additional legal protection.

It’s important to keep your Santa Clarita, CA home safe. WPL Insurance Services is here to help, and we’re ready to assist you with asset valuation to determine the best possible plan for your lifestyle. If you’re facing law difficulties, you might lose any assets you’ve acquired over the years. Protect your home, protect yourself and, above all, protect your family. Reach out to our agents to learn more.

What Can Happen if You Do Not Have Auto Insurance?

There are a lot of people who would prefer to not pay for auto insurance every month. Even though this may sound nice in theory, it is important that you have the right amount of auto insurance in the Santa Clarita, CA area. You can get into a lot of trouble without it. Here at WPL Insurance Services, this is not something that we want you to have to worry about.

What Can Happen if You Are Caught Without Auto Insurance in California?

When you are caught without auto insurance in California, you can be subject to fines. For the first offense, you can be fined anywhere from $100 to $200. For the second offense, you can be fined anywhere from $200 to $500. These fines do not include the penalty assessment fees so the fines will actually be a lot larger in the end. At the end of all the fines, if you have a first and second offense, you will actually pay almost the same amount for auto insurance in the first place. In addition to these fines, the court can order that your vehicle be impounded which means you will also no longer have access to your vehicle until you pay the impound fees. 

As you can see, this is a big hassle to deal with if it occurs. The only way to avoid these penalties and fines is by having the right amount of auto insurance. You will need to make sure that you at least have the minimum amount of coverage that is required by the state laws in place. If you are not sure how much you should have or if you have enough, be sure to reach out to WPL Insurance Services serving the Santa Clarita, CA area. 

What A Commercial Policy Covers In California

When you start a business in Santa Clarita, CA, there are a lot of insurance concerns to wrap your head around. Commercial insurance is only a starting point. Beyond that, you also might need to look at other forms of insurance relevant to your industry. Do you need professional liability? Additional auto policies? It depends on your field and the type and scale of your business.

What does commercial insurance cover? When you call WPL Insurance Services for a policy, what do they cover?

It covers three things: property, general liability, and your employees with things like workers’ compensation. For some businesses, maybe that’s all you need. For others, it’s more than you need, and you might need a full commercial coverage plan. But generally speaking, this is going to be the foundation for your insurance package.

Maybe the most important one is a general liability policy. When someone gets hurt on your property and decides to take the issue to court, their lawyer is going to look at your holdings and assets vs. your business’s holdings and assets, and chances are your business is a juicier target than you are. Without general liability, one slip and fall can completely sink your business.

If you call WPL Insurance Services in Santa Clarita, CA, we can advise you on exactly what kind of commercial insurance package you need, whether it’s basic liability policy or something more robust. You can’t do business without getting covered, so make sure your plan is sufficient enough to cover all of your assets and risks.