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I don’t have employees: Do I still need commercial insurance?

If you are familiar with how insurance works in San Diego, CA, the chances are that you already figured that you need commercial insurance for your business. Whether it is a small startup or a large company, the Insurance Pros of California recommend having a form of coverage that will protect your business. To answer our title question–Yes, you still need commercial insurance even if you don’t have employees. The only protection you may not need is worker’s compensation insurance.

The importance of commercial insurance.

Starting a business means exposing yourself to unknown risks, including natural perils. While you cannot prevent accidents from happening, you can prepare financially to handle the outcomes of any catastrophic event. That is where commercial insurance comes in. If your business involves having clients, partners, and other customers coming to the premises, you may need adequate coverage to protect them in case of accidents that may quickly result in lawsuits.

Commercial insurance in California

The California law requires you to have a worker’s compensation insurance if you have one or more employees. Depending on your business location, you may also need to get disability insurance. Even if your business does not require employees, having various coverages like vehicle insurance and business owners policy (BOP) can help you have sound financial security for your business. For instance, BOP covers property damage, business income, and general liability. Such coverage will help provide you with peace of mind so you can focus on other critical masters of the business.

If you just opened your business or intend to open one, we recommend buying commercial insurance to avoid significant financial losses. Anything can happen to your new business. Therefore, consider protecting it as early as possible. To help you choose some of the coverages that you may need, contact the Insurance Pros of California today. 

What happens to my home insurance policy after divorce or separation?

Recent studies found that more couples are going to divorce or separate in San Diego, CA, and across America. While it is sometimes inevitable, a divorce raises many questions, especially with regards to home insurance. In most cases, divorce only results in the creation of two households, which is a good thing if both parties agree on what to do about the previous homeowner’s insurance. At the Insurance Pros of California, we are here to help you understand the effects of divorce on your home insurance policy.

The insured property

 When it comes to divorce or mutual separation, the house possessions can be split between both parties. Therefore, you may need to review your home insurance policy to make sure that it covers the contents and structure of the home. Keep in mind that the primary property owner can only insure a property, but if ownership changes due to divorce, then the home insurance policy will need to be adjusted to reflect the new owner.

The name of the policy

Proper home insurance should have both names of the husband and wife. Unfortunately, this is not always the case, which leads to many problems. If the policy only reads one name, then this person is solely responsible for making any policy amendments. If the separation forced the policy owner to vacate the home, there is nothing the insurance company nor the partner can do to the policy. If the person wants to buy insurance for another residence, they are permitted to do so. In simple terms, only the parties listed on the policy are eligible to make any policy changes.

A divorce affects every aspect of the couple’s life from family, work, address, and many other significant lifestyle changes. However, fixing what is most crucial for both parties–home insurance policy– is the best way to have a successful and peaceful separation. If you are still concerned about home insurance after divorce, you can always contact us at the Insurance Pros of California in San Diego, CA, and our insurance experts can answer all your questions.

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