I’M STARTING A SMALL BUSINESS, WHAT INSURANCE DO I NEED?

There is nothing more exciting than stepping out on your own. You’ve worked for others for years and now it’s time for you to build your dream. Part of building a dream is working to protect it. We think a lot about things like how we will get customers, find affordable and consistent suppliers, and how to ensure our product quality is high so customers return. However, many times we don’t think about things outside of our control. That is what business insurance is all about. It’s about protecting your small business from unexpected perils.

Primary coverages every Northridge California small business owner should consider:

1. General Liability: 

General liability is a type of coverage that protects your small business against financial liability. This is really important for small businesses because they don’t always have the resources to pay for damages. General liability covers you against claims for things like bodily injury, property damage, and copyright infringement. It’s a great starting coverage for every business. Even the smallest businesses like Etsy creators can benefit from general liability. Don’t worry, it’s also very affordable.

2. Property Damage: 

Entrepreneurs that plan to have a large inventory. It’s also a great option if you are investing in expensive equipment or machinery. This is especially true if your business relies on any of these things to produce an income. Property damage insurance will help you replace these necessities. In turn that will help reduce disruption to your business processes after a loss.

3. Professional Liability

On the other hand, if you plan to provide a service with your small business you may want the professional liability. Professional liability insurance is a type of insurance that protects you if your services cause harm. Think of professional liability as similar to medical malpractice insurance but for other professionals like lawyers, architects, and business consultants. 

Contact us

If you are starting a small business in Northridge, CA. Contact our team at Panorama Insurance Agency, Inc. We understand that small businesses are on tight budgets but still need great coverage. We work with a number of national and local insurance providers to help you find an insurance policy that protects your fledgling business. We also have the experience to scale as your business grows and flourishes. We hope we can support your dream, but nevertheless wish you success in your new endeavor!