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If you are looking for cheap business liability insurance in California, it is important to remember what kind of insurance fits your business needs. What sorts of lawsuits do you need to protect yourself from? How big is your business, and just how much of a risk does your business stand to take? Who is the best insurance provider?
First, what sort of business are you operating? The type of business that you run is a key determinant in the type of insurance you need to buy, and how much. Chances are, you will need at least one of the following four kinds of business insurance: general (which covers property damage, false advertising, and bodily injury), professional (which protects doctors from malpractice and lawyers, architects, engineers, accounts and real estate professionals from errors and omissions), product (which insures manufacturers from suits against malfunctioning products) and EPLI (or Employment Practices Liability Insurance, which provides protection from discrimination suits as well as wrongful termination and sexual harassment). Note that you may need to buy more than one kind of insurance, in which case it might be wise to bundle and purchase umbrella insurance. (You can also use umbrella insurance to include personal insurance costs as well…it’s a great way to save money and run a cheap business)
Liability insurance in California varies in cost from location to location. Obviously businesses in Los Angeles are going to be more expensive to insure than businesses in rural California; there are more people, more expensive properties, and more opportunities for something to go wrong. In this case, it is absolutely essential that you consult a business insurance calculator and figure out how much you need to be insured for so that you know how much to buy. You can merely abide by state minimums if you only want cheap liability insurance; in California, though, because it is so well networked, it is unwise to make foolish gambles. You definitely want to be covered.
