A California Business Insurance Update
We don’t expect you to be experts in business insurance, but we thought it might be fun to test you on what you do know about your business insurance. Business insurance is designed to cover unexpected losses. We can offer a wide range of business insurance options, so please call our office today.
Business Insurance Quiz (answers at the end)
- Your deductible is the amount you are responsible for if a covered loss occurs.
- Flood and earthquake coverage are always part of your business property coverage.
- Cyber Insurance is protection against losses caused by hackers from businesses dealing strictly in e-commerce, but it does not exist.
- Business Interruption covers your lost income no matter what kind of loss closes your business.
- My employees are prohibited from suing me, as this would be a workers’ compensation claim.
Armstrong Timeshare Association (ATA) has been created exclusively for timeshare resorts and HOAs and to assist timeshare resort risk managers and brokers. Our products include comprehensive insurance programs designed specifically for the Timeshare and HOAs industries and the distinct insurance profile for which, often times, basic insurance does not adequately cover. The ATA program includes a property restoration component for major losses assuring minimal downtime and loss mitigation.
- False- You need to add this coverage under a separate policy
- False- Cyber insurance can be purchase by all business
- False- Business interruption only applies to covered losses under the policy
- False- Your employees have rights under federal and state laws to sue you if they feel they have been wronged. You would need employment practices liability insurance in order to protect you and your business from employee lawsuits.