Commercial Insurance FAQs

At Wai Cheng Insurance Inc., we usually receive many questions from our Bay Area, CA clients: Do I need commercial insurance? What does it cover? Is it mandatory? Business insurance can be a confusing topic, especially for startup business owners. As such, we have prepared a comprehensive FAQs section to answer most of the questions you might have. 

Please take a few minutes to browse through our FAQs section. The chances are that you might find an answer to a question that has been bothering you.

Is commercial insurance mandatory?

Commercial insurance is broad. It carries various options to ensure that businesses are well-covered. However, California law requires businesses to maintain the below mandatory commercial insurance.

  • Workers’ comp insurance: If you have an employee in your business, you must carry workers’ comp insurance to protect your employees against work-related injuries. Failure to carry this insurance may lead to civil and criminal charges.
  • Commercial auto insurance: It protects vehicles that carry out business operations. It covers vehicle damage and protects the drivers as well.

What does commercial insurance cover?

Business insurance protects businesses against various perils. Here are some examples.

  • Liability protection
  • Assets protection
  • Business income protection
  • Professional negligence protection
  • Cybercrimes protection

As you can see, commercial insurance is designed to protect businesses from various risks. Whether you are a startup or seasoned business owner, you need commercial insurance to protect your business.

Is there comprehensive commercial insurance that can take care of all my risks?

Not really. If commercial insurance were to be compressed into one policy, most organizations’ budgets would be out of reach. In light of this, commercial insurance is broken down into various categories to enable businesses to choose those that fit their needs.

Where can I buy commercial insurance?

Shopping for commercial insurance for your Bay Area, CA business shouldn’t be an arduous task. When you partner with Wai Cheng Insurance Inc., we shall ensure we protect your business from various risks at an affordable rate. Contact us today.