Commercial Umbrella Insurance California Coverage Plans

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California Commercial Umbrella Insurance

Though there are many reasons to consider a Commercial Insurance Umbrella policy for your business, there are two that stand out. One, it protects your business from the high cost of a catastrophic claim or lawsuit. Two, you may need to purchase a policy in order to meet the needs of a client, subcontractor, or vendor they are working with that requires you to carry extra coverage. In either case, protecting your business should be a high priority and we can make that easier and more affordable for you with our California Commercial Umbrella Insurance.
Commercial Umbrella Insurance in California can provide separate or combined extra coverage for General Liability, Commercial Auto, and Property policies. However, if desired, they can cover much more. If the excess coverage only covers one main policy, then it is considered an Excess Liability Policy. It’s typically very easy to obtain an umbrella policy for any business. JVRC Insurance can provide you with all the options California has to offer while narrowing them down to the policy that’s right for you.
Whether you choose $1,000,000, $5,000,000, or even $15,000,000 in extra coverage, your Commercial Insurance Umbrella policy will make sure to cover over your traditional policy limits to provide peace of mind in case of a catastrophic loss. An umbrella policy can also broaden your limits as well. Please see below for a list of potential protected policies:

Contact Us for Your California Commercial Umbrella Insurance

We can help determine what types of claims that are common in your industry and what type of awards that are generally given in a lawsuit. From there we can determine what kind of Commercial Insurance Umbrella policy you may need. Contact us today for your Commercial Umbrella Insurance in California. We are just a click or a call away!

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Frequently Asked Questions about Business Insurance

Are all California businesses required to carry Workers Compensation Insurance?

ALL California employers must provide coverage for their California employees

Why is California Workers Comp Insurance so expensive?

Largely because of claims that occur, experience modifications, fraud and payroll amounts statewide

Where do we get the information we post on our blog site?

The Department of Insurance website, The WCIRB, The Insurance Journal and many other trusted sources

What is an experience modification?

It’s a percentage that compares the payroll and loss history of your company to a similar-sized company within the same industry. For example, if a company has a better than average loss record, their experience modification would be less than 100%. If that is the case you would receive a credit on your Workers Comp rates. If that is not the case however it would result in the opposite, an increase in rates. The experience modification can be closely compared to an individual’s credit score.

Why is Workers Compensation Insurance a necessary requirement?

It is illegal in the state of California to not carry it. There will be penalties, fines and many other consequences if a worker is injured and you do not carry it. Furthermore if there is a claim and you do not have California Workers Compensation Insurance at the time the employer is still liable for all costs relating to the injury which can be devastating to any company.

How does your insurance carrier determine what your experience modification number is?

This is calculated based on your payroll, premium paid and by your reported losses for the last three consecutive years

Who regulates and makes California Workers Compensation laws?

The Department of Insurance regulates the laws and the State Senate makes them

What is a Classification or a class code?

It’s a component used determine the price an employer pays for their workers’ comp insurance premium. Classifications are established for each industry and typically include all jobs or operations within a particular business.