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Don’t Skip These Types of Commercial Insurance in California

Protecting your company is a top priority as a business owner. You’ve likely invested a lot of time and money into building your business, so it’s essential to insure it is covered in an emergency. That’s where commercial insurance comes in. Commercial insurance protects businesses from potential liabilities and losses, and various types of coverage are available. Some types of commercial insurance are required by law, while others are optional but still highly recommended. Here are four types of commercial insurance that every business owner should consider:

1. Property Insurance

If you own or lease commercial property, you’ll need to purchase property insurance to protect your assets in the event of damage or theft. This type of insurance will reimburse you for the cost of repairs or replacement up to your policy’s limit. 

Contact THINK Insurance & Financial Services for a property insurance quote today.

2. Liability Insurance 

Liability insurance protects your business if someone is injured on your property or you are sued for damages. This type of coverage can help cover the cost of medical bills, legal fees, and more. 

3. Worker’s Compensation Insurance 

If you have employees, you are required by law to carry worker’s compensation insurance. This type of insurance will help cover the cost of medical bills and lost wages if an employee is injured on the job. 

4. Business Interruption Insurance 

If your business is interrupted because of a covered event such as a fire or severe weather, business interruption insurance can help reimburse you for lost income and expenses incurred. This coverage is often overlooked but can be crucial for small businesses. 

Purchasing commercial insurance is an essential part of being a business owner. To learn more, contact THINK Insurance & Financial Services. We can help you find the right coverage for your business.

Why Should You Consider Increasing Your Life Insurance Policy If Your Wages Have Significantly Increased?

THINK Insurance & Financial Services, serving the greater Pomona, CA area, offers life insurance policies for our clients. One of the questions we often get asked is when someone should consider increasing their life insurance policy. While many life events warrant an increase in life insurance policy amounts, one of the most overlooked is after someone’s wages have increased significantly. Read on to learn why it may be essential to increase your policy after this happens. 

Why Should You Consider Increasing Your Life Insurance Policy If Your Wages Have Significantly Increased?

You should consider increasing your life insurance policy if your wages have significantly increased because your current policy is likely based on your older, lower wages. A life insurance policy helps to cover your final expenses, but it also helps to provide for your family if you pass away unexpectedly or early in life. This allows your spouse to keep a roof over their head and helps to make up for the lost wages due to your death. If your wages have increased, your life insurance should increase to ensure your family can continue to live the quality of life they have become accustomed to should you unexpectedly pass away. 

You should consider increasing your life insurance policy after your life changes, including getting married, purchasing a home, having children, or even if your wages have increased significantly. If it has been a while since you last increased your life insurance policy and experienced significant life changes, now may be the perfect time to take a look at your policy and consider increasing it. Reach out to THINK Insurance & Financial Services, serving the greater Pomona, CA area, to learn more about increasing your life insurance policy.

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