Count Your Employees Before Making Business Insurance Decisions

Business owners might ask themselves whether they have enough insurance to protect their company against a loss. Yet, how do you know when you have enough business insurance in Orange County? There can be several variables to consider, such as the size of a company, number of employees and sales per year. So before purchasing a policy, evaluate how certain factors could affect your insurance needs.

Under 50 Employees

Companies with 50 or fewer employees might qualify for a policy designed specifically for small businesses. Provided a company is not exposed to excessive risks, a standard policy could offer enough protection at an affordable rate and possibly save a business owner unnecessary expense. A home-based business might only need coverage for liability or property loss.

50 – 1,000 Employees

As a company grows, so could its insurance needs. Standardized coverage for a medium-sized business can be sufficient provided the company is not highly specialized. There could also be some additional issues to consider, such as employee liability coverage.

Over 1,000 Employees

Larger organizations could face more complex challenges and increased risks. Insurance might need to be customized and a risk management program added to mitigate loss. Sometimes companies decide to retain the services of a risk manager if the role cannot be handled in-house.

Business Insurance Advice

Professional advice on business insurance in Orange County could offer more detail. Whether a business is home-based or employs 50 to over 1,000 employees, loss, risk and liability issues can vary. Researching the variables and understanding their impact on your business is often helpful when assessing coverage needs.

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