Fresno Business Liability Insurance

Fresno business liability insurance policies come in two forms: occurrence or claims made. The type of policy you will want depends on the activity of your Fresno company. Both claims made and occurrence policies have advantages and disadvantages, and choosing which one is an important decision that may significantly impact your future costs and risk.

You will also have to make a number other decisions regarding your Fresno business liability insurance. For example, if you're opening a bar or liquor store, you need to consider liquor liability policy. Or, if you or your Fresno employees will be driving for work, you may need to consider commercial auto policy. Each of these decisions should be given appropriate consideration.

Claims Made or Occurrence Insurance?

The difference between a claims made policy and a occurrence policy sounds relatively simply, but it's actually quite complicated. Here's the basic difference: a claims made policy is active during the time that your business is actually insured, but it stops when you stop paying. An occurrence policy, on the other hand, remains active for events related to the time you are insured, and stays active long after you stop paying for active coverage.

Again, it sounds relatively simple: claims made only works when it's active, and occurrence is always active (for events related to the time you're insured). However, lawsuits aren't always immediate. For example, if you build a house and it falls down in 20 years due to faulty foundation, you may have a lawsuit brought about in 20 years. If you had claims made coverage at the time you built the house but you've stopped paying, you're in trouble.

Of course, getting an occurrence policy won't solve all your problems. The current policies are much more expensive, and they're not available for every type of industry. Also, coverage limits aren't adjusted in relation to your Fresno company growth, or inflation. So, in 20 years, your California business liability coverage may not be sufficient.

Another option is to purchase tail coverage on your claims made policy. However, tail coverage for your Fresno company is more expensive than you might expect. Also, remember: if you switch claims made insurers at any time, a new insurer has to have a prior acts endorsement.

Basically, if your work will last into the future, you need to have active Fresno business liability insurance as long as lawsuits are a possibility. It's expensive, and it's complicated, but it provides necessary protection. A Fresno business liability insurance agent can talk to you about the advantages and disadvantages of claims made versus occurrence policies, and that will make the decision a lot easier.

California Liquor Liability

If you're opening a bar or liquor store in Fresno, California, you need to have a liquor liability insurance policy. Although the dram shop laws are not as strict in California as in some states, you still need to have protection. You may be held financially liable, for example, if you serve liquor to a minor and face a lawsuit.

Imagine if the bartender you hire serves alcohol to a minor: you will be held financially liable for any damage caused. In this case, your Fresno business liability insurance will not cover you. In fact, your Fresno business liability insurance will cover you for any incidents related to alcohol. You need to have liquor liability policy.

Actually, you should know: all Fresno, CA liquor establishments are required by law to have the appropriate liability insurance. Also, here's a tip: intelligent operators to keep a breathalyzer on hand, to limit their exposure during a lawsuit. Hiring smart bartenders and keeping up their training helps, but it won't cover you in all cases. Get good insurance and take extra precautions.

Commercial Auto Liability Policy

If you or your employees will be driving on behalf of the company, you should consider commercial auto policy. Your personal auto policy will not cover you in a car accident if you're driving for work purposes. Furthermore, your Fresno business liability insurance will cover you, either. If you don't have extra coverage, you'll be on your own.

Your Fresno business liability insurance agent can help you understand whether or not a commercial auto policy is necessary for your CA business. Generally, if your business activity involves driving, you need a commercial policy. The last thing you want to spend time arguing with your business insurance as to whether or not it was personal driving or company activity.

Fresno business liability insurance includes many different possible plans for your specific industry. It's important that you have the appropriate coverage for all your business activity, and that you avoid unexpected gaps. A good business insurance agent can help you choose a great insurer with low rates, and the correct policies to cover all your needs.

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