A crucial part of operating a business is implementing and maintaining sufficient risk management and loss control practices. Regardless of size or industry, all businesses have certain risks and exposures that they must account for. Even the most careful companies may not be able to prevent various incidents from occurring. As such, a robust insurance portfolio could be an invaluable investment. 

The agents of Sanguinetti & Co. Insurance Brokers have over 50 years of experience providing ideal insurance solutions for businesses in Stockton, Lodi, Angels Camp and the surrounding areas.   

What Is Business Insurance? 
Business insurance provides a safety net for various risks and exposures that might otherwise lead to significant financial losses. These policies can be tailored to suit your company’s needs, at which point you will be quoted a premium. These regular payments will allow you to maintain your coverage and access critical financial assistance for incidents and events listed in the policy.  

What Does Business Insurance Cover? 
While no two businesses have the exact same insurance needs, several core coverages will likely be necessary for most companies. In general, most businesses should strongly consider acquiring the following coverages: 

• General liability—If your business is liable for an incident that resulted in bodily injury, property damage or personal and advertising injury, this coverage can help cover resulting medical expenses, repairs and court costs.
• Commercial property—If property you own or rent to operate your business is damaged, this coverage can help cover losses and damages. This could include your building, equipment, inventory, furniture, landscaping and signage.
• Business income—If your company is forced to cease operations temporarily, this coverage, also known as business interruption insurance, can render financial assistance for various expenses, such as rent, lost income, relocation and payroll.
• Professional liability—If a client alleges that services provided by your business were substandard or negligent, this coverage can help pay for their losses.
• Workers’ compensation—If an employee is injured on the job or develops a work-related illness, this coverage can help cover various resulting costs, including medical treatment, lost wages and disability benefits. It may also help cover legal fees if a lawsuit is filed against your business. 

Additional insurance may also be advisable depending on your organization’s specific operations. For example, a company that regularly utilizes technology and stores information electronically may find a cyber liability policy to be an invaluable investment. 

How Much Does Business Insurance Cost? 
Like most insurance, your premiums for various coverages for your business will vary based on certain circumstances. In general, insurance providers will consider the following factors: 

• Industry
• Number of employees
• Location
• Claims history
• Policy details (e.g., deductibles, endorsements, coverage limits) 

Get the Right Coverage 
Operating a business can be exciting, rewarding and lucrative, but it can also be volatile. Regardless of how safe your workplace may be, certain circumstances may be unavoidable. Without adequate insurance, even a single incident could have catastrophic consequences for your company’s finances and future.  

Sanguinetti & Co. Insurance Brokers are here to help. Our agents have the experience and knowledge to assess your company’s coverage needs accurately and will work with you to tailor an optimal insurance portfolio. Contact us today to get started.