Does Your Home Bakery Require Commercial Insurance?

You love baking, and you’ve decided to start a business making baked goods in your community. In order to protect your efforts, it’s important that you have the right kind of insurance coverage. At Wai Cheng Insurance Inc., serving the Bay Area, CA our team is here to help you rest assured that your hard work and business are protected if the unexpected occurs. 

What is Commercial Insurance?

Also known as business insurance, commercial insurance refers to policies that protect businesses instead of individuals. If you have an official business (beyond baking occasionally for family and friends), it’s important that you work with a qualified agent to find a commercial insurance policy that provides the right amount of coverage for your needs. 

What Does Commercial Insurance Cover?

The specific coverage limits of your commercial insurance policy are individual. Many people with commercial insurance use their policy in the event that their business experiences a lawsuit, an accident, or is affected by a natural disaster that causes them to lose physical property or business opportunities. If you experience one of these events, it’s important that you reach out to your commercial insurance agent to learn whether it makes sense to file a claim. Remember, providing your insurance agent with information does not necessarily mean you have to file a claim–it simply provides you with more information to decide how to move forward.

Call Today To Discuss Your Options

As a small business owner, you know that it’s important to protect your hard work, and we’re here to help. At Wai Cheng Insurance Inc., our Bay Area, CA team is here to work with you to help you find the policies that are right for your business. Stop by or reach out to us today to talk with an agent and learn more.

Do Rideshare Operators Need Commercial Insurance?

Wai Cheng Insurance Inc. is dedicated to providing the residents of Bay Area, CA with top-quality insurance products for commercial needs. If you would like to learn about the range of products and services we offer, don’t hesitate to reach out to us, and we will provide you with the information and assistance you need to get Reliable Insurance protection.

Commercial Insurance Protection 

Freelance operators and rideshare contractors must carry a specific level of commercial auto insurance if they work for major companies such as Uber and Lyft. If you’re a rideshare provider or considering this line of work, you’ll need assistance choosing the right type of insurance coverage to meet company specifications.

Having the right Insurance not only protects you but protects your riders too. If you want to learn more about commercial auto insurance or any of the products or services we offer, you can count on our experienced team of professionals to give you the information and support you need.

If you want a commercial insurance policy, we can outline the terms and conditions, so you can be an informed consumer. We assist with obtaining the insurance policy and provide you with support for any future changes during the lifetime of the policy and claim submissions.

Reach Out Today 

If you would like assistance learning more about commercial auto insurance or any commercial policies we provide, we will be happy to help. Please feel free to call or stop by the Wai Cheng Insurance Inc. office, proudly serving the residents in and around the Bay Area, CA region. Get the insurance protection you need to feel confident while participating in a rideshare driver program.

The Top 4 Risks Your Business Needs Commercial Insurance Coverage For

Our team at Wai Cheng Insurance Inc understands that running a business in the Bay Area, CA is hard enough – the last thing you need to worry about are potential risks. That’s why commercial insurance coverage is essential for protecting your business from unexpected and costly damages, losses, or lawsuits. 

Let’s take a look at the top four risks your business needs commercial insurance coverage for: 

Risk #1: Property Damage and Losses 

From natural disasters like wildfires and floods to theft or vandalism, property damage can be devastating for any business. A comprehensive commercial policy will cover physical assets such as buildings, furniture, inventory, and equipment in the event of an accident or disaster. Without it, your company could be left to shoulder the entire cost of repairs or replacements. 

Risk #2: Liability Claims and Lawsuits 

Accidents can happen anytime, anywhere – and if someone is injured on your property, you will be liable for medical costs, damages, or other expenses. A commercial insurance policy provides the financial protection needed to cover these claims and lawsuits, so you won’t have to worry about a costly legal battle. 

Risk #3: Business Interruption and Loss of Income 

If an accident or disaster forces your business to close its doors temporarily, income will be put on hold while you rebuild. Thankfully, some commercial policies provide coverage for lost income during this downtime period, allowing companies to get back on their feet faster after difficult times.  

Risk #4: Cyber Attacks and Data Breaches 

Given the rise of cyber attacks, data breaches are becoming more and more common. This means that sensitive information like customer records, financial data, or employee information can be exposed to malicious actors who use it for their own purposes. A commercial policy with cybersecurity coverage will help protect your business by providing funds for recovery efforts in the event of a breach. 

We Can Help!

At Wai Cheng Insurance Inc, serving the Bay Area, CA, we understand how important it is to have protection against potential risks. Our experienced insurance agents will work with you to find a commercial policy that fits your business needs. With our help, you can rest easy knowing that your company is covered in case of any unexpected damages, losses, or lawsuits. Contact us today to get started! 

Preventing Slip and Falls at Your Business

At Wai Cheng Insurance Inc., we serve Bay Area, CA companies with commercial insurance to fit their needs. We also take pride in helping businesses maintain lower rates by assisting them in managing risks. One of the significant risks businesses face is liability claims from slips and falls.

Here are some tips for preventing slips and falls at your business:

Addressing Known Issues is Key

It is important to note that businesses are more likely to be found liable for injuries sustained in a slip and fall if it can be shown they were aware of the cause of the slip and fall and failed to respond by addressing it promptly. This is why it is critical to fix a potential area of danger when it is noticed.

Have Appropriate Materials to Address Leaks

Make sure you have signage to identify areas that may become temporarily wet. These can include mini-sandwich boards, bright-colored pylons, and caution tape.

Highlight Level Changes

Use yellow paint to identify curbs and step edges. Stripes can help identify ramps. This makes these hazards easier to see for vision-impaired visitors.

Train Staff

Make sure your staff knows the significance of slips and falls, and knows how to address potential issues. They also should note if they also should note whether the fall occurred in a restricted area, if the person was running, or wearing inappropriate footwear.

As a business owner, it is your responsibility to provide a safe environment for visitors and customers. Preventing slips and falls is a good place to start.

Get Insurance Coverage To Protect Your Business

Wai Cheng Insurance Inc. offers Bay Area, CA businesses property and liability insurance to protect their investment. Business and commercial insurance can protect income, vehicles, real estate, inventory, and more. Contact us for your commercial insurance review and price quote today.

Don’t Be Left Out In The Rain Without Umbrella Insurance For Your Business.

If you already have a commercial insurance policy you may assume that you are protected from anything that can come your way. However, commercial insurance is only for specific instances and while important, it is also more generic than some businesses need.  Wai Cheng Insurance Inc. serves the Bay Area, CA with quality insurance services. We can provide the exact umbrella policy for your unique needs. 

Why Should You Consider an Umbrella Policy for Your Business?

Umbrella insurance can provide specialty coverage for businesses that have unique assets or risks that are not covered under broader insurance policies. For example, a general use would be if your current policy covers X amount of loss, but you know your product is worth more than that. The umbrella could make up the number difference and reduce your risk if something goes wrong. 

Another example of umbrella insurance is to cover a specific risk that may not be covered in your current policy. If you work in a field that has high public interaction then a level of coverage for lawsuits is wise. If you run a finical business then an umbrella policy to insure the large amounts of money that moves with risk is a good idea. 

Contact Us Today

Wai Cheng Insurance Inc. serves the Bay Area, CA and the surrounding community with quality insurance services. If you worry that your current commercial policy does not cover all the aspects of your business or is not enough then give us a call, and we will be happy to answer any questions you have about umbrella insurance for your company. 

What Are Some Common Exclusions In Commercial Insurance Policies?

Commercial insurance policies often have exclusions that limit the coverage available to a company or business. Exclusions may apply to a certain risk, such as fire or earthquakes, or they may apply to a certain industry, such as manufacturing or construction. 

In most cases, it’s best to talk with your agent or broker about the details of your company’s current coverage to determine what might be excluded and what might be added. For issues in Bay Area, CA and surrounding cities, visit Wai Cheng Insurance Inc. 

Exclusions in Commercial Insurance 

Most commercial insurance policies will have a list of exclusions that won’t be covered under the policy. These exclusions can include items such as: property damage from lightning, wind, or hail, or from earthquakes, floods, or other natural disasters. 

Also, usually not covered are:

  • Damage from certain animals or insects, such as bees, fleas, rats, or termites
  • Damage from certain types of weather and climate conditions, such as hailstorms or tornadoes
  • Damage from acts of terrorism

Exclusions are often based on the type of business and the risk involved, so they will vary greatly depending on the policy. Many policies include specific exclusions for things like accidental death and dismemberment, intentional acts, travel, and many other scenarios. 

Certain types of assets, such as inventory, are typically excluded in commercial insurance policies. An inventory might be worth thousands of dollars, but when it’s written on paper and stored in a warehouse, it has no value. 

Another common exclusion is equipment. Most businesses have some type of equipment, from computers to coffee makers, that can be worth a lot of money. 

Most businesses insure these items, but if you want to make sure your policy covers them, you can ask your insurance agent about equipment exclusions. Another common exclusion is business interruption. 

Contact Us Today

Most commercial insurance policies have a list of things that are typically excluded. In some cases, these exclusions may be related to certain events that are deemed to be of low risk. 

In other cases, there may be legal or moral reasons for why certain things are not covered. Wai Cheng Insurance Inc. will handle your inquiries in Bay Area, CA.

Commercial Insurance Myths To Watch Out For

Wai Cheng Insurance Inc. serves the Bay Area, CA community. We are committed to helping our clients find the coverage they need to live life comfortably. We provide our clients with multiple coverage options so that they can make the best decision possible.

Commercial Insurance Myths To Watch Out For

The Bay Area, CA community is a competitive marketplace for businesses that are looking to move forward. As a business owner, you have to manage multiple responsibilities at one time. Commercial insurance policies can help take some pressure off. The policy covers your assets during emergencies. You are covered if your equipment or inventory is vandalized or stolen. You are also covered if your property is damaged in a fire or natural disaster. Liability coverage protects you if a guest is injured while visiting your property. You are also covered if you accidentally damage someone’s property or if a customer alleges that your products caused them harm. While looking over your commercial insurance policy, pay attention to these common myths.

Commercial Insurance Only Benefits Large Businesses

Opening a small business is a significant investment. That makes obtaining commercial insurance even more important. As a small business, you’re unlikely to have enough capital to survive a serious emergency. One liability dispute could put your entire business at risk. Commercial insurance can help small businesses stay afloat during troubling times.

Coverage Isn’t Necessary For Remote Businesses

If you are operating a home-based business, you still need commercial insurance. Commercial insurance can help cover you if something happens to your home based equipment. Also, you can add cyber liability coverage to protect the network that you’re working on against the threat of computer hackers.

Wai Cheng Insurance Inc. Will Help You Protect Your Investment

Contact us today to learn more information about commercial insurance.

Why California Businesses Need Commercial Insurance

Wai Cheng Insurance Inc. serves the Bay Area, CA community. For over 15 years, we have helped our clients find the coverage they need to protect their assets. We offer multiple types of coverage to ensure that our clients are secure regardless what life throws their way. We look forward to helping you protect what matters most.

Why California Businesses Need Commercial Insurance

Bay Area CA is a thriving marketplace. Many businesses are looking for ways to distance themselves from competitors. While brainstorming ways to increase sales, you also have to prepare for the worst. Imagine one of your employees forgets to mop the wet spot on the floor and one of your customer’s slips and falls, suffering a serious injury. Your entire business could be at risk if you don’t have the necessary insurance coverage. Commercial insurance protects your business if you are held responsible for an accidental injury. Your business is also covered if a fraudulent product causes property damage. These are common situations where your assets are at risk if you don’t have insurance.

Perhaps an accidental fire totals your property. All of your equipment and inventory are ruined in the fire. Without commercial insurance, starting over may be impossible. All the hard work and sacrifices you’ve made to establish your business, and it’s gone in a few minutes. Commercial insurance can prevent you from losing everything. All of your repairs are covered, and you can add business interruption coverage to your policy. This allows your business to continue functioning until your original property is restored. You can also adjust your commercial insurance policy to fit the unique needs of your business.

Wai Cheng Insurance Inc. Will Help You Cover Your Assets

Visit our website to learn more information about commercial insurance.  

What Kind of Insurance Does Your Startup Need?

When you are starting a brand-new business in Bay Area, CA, you probably have a lot on your plate. However, the one thing that you don’t want to forget about is business insurance. Having the right coverage for your business is just as important as having the lights on in your building and having a sign-up outside that will attract customers.

Of course, there are numerous types of commercial insurance options available, potentially leaving you incredibly overwhelmed. For this reason, the team at Wai Cheng Insurance Inc. wants to share some of the basic types of insurance that your startup needs.

General Liability

When a legal claim is made against your company, a general liability policy helps to cover any medical or legal fees associated with said claim. This type of commercial insurance coverage pertains to property damage, physical injuries, libel, or slander. In the event your business handles any kind of personal information or data, it may be a good idea to consider adding a rider in the event of a data breach.

Professional Liability

If your business offers services, you will also need to invest in professional liability insurance coverage. This type of insurance policy is also referred to as Errors and Omissions (E&O). This coverage will provide protection for you and your business when a customer makes a claim against you for unsatisfactory, incomplete, or late work that has potentially negatively impacted them. In the event that you are taken to court, E&O coverage covers the legal fees and assists your business in keeping its doors open.

Commercial Property

Commercial property insurance coverage will insure your business property and assets in the event they are damaged or lost as a result of a covered event, such as theft, fire, or natural disaster. However, some events, such as a flood, will require separate insurance coverage.

Workers’ Compensation

If you employ individuals, you will need to invest in workers’ compensation coverage. This type of commercial insurance will protect you in the event that an employee suffers an illness or injury while at work. The coverage will pay for the medical care for the employee as well as their lost wages if they’re unable to work. If a fatal accident occurs, workers’ compensation will provide the family with financial benefits.

If you are thinking about starting a business or have a startup in Bay Area, CA, make sure to invest in commercial insurance with a company like Wai Cheng Insurance Inc. Contact our team today to learn more about the commercial insurance options available to you.

How commercial insurance can protect you in the event of a cyberattack

Cyberattacks are on the rise for small businesses. According to recent reporting, over the past year, 47% of small businesses experienced a cyber-attack over the past year alone. Of those, 44% were hit more than once.

If you are a small business, you must be just as concerned about your online security as you are your physical and financial security. If you don’t, you will not only potentially lose the trust of customers, but you could also end up spending as much as $200,000 to recover.

One way you can protect yourself is to invest in the right commercial insurance. Small business insurance options often include cyber liability insurance.

This option covers costs associated with a breach involved intangible assets, such as customer data. It will also cover the cost of legal fees, technical investigations, loss of revenue and damage to electronic damage should your business be the business of a cyberattack.

In addition, when you have this insurance, you may also receive help with notifying clients of the attack and hiring a public relations firm to help you manage communication-related to the problem. This policy may even help with you the cost of legal fees and regulatory penalties.

Cyber liability is not the only insurance option that could be key in the event of an online attack. You should also consider business interruption insurance. This type of small business insurance will cover the income you lose should you need to close your business to help manage the ramifications of a cyberattack.

If you are a small business owner, having the proper cyberattack coverage could make the difference between staying in business and going bankrupt.

Are you interested in cyberattack coverage for your Bay Area, CA small business?

The team at Wai Cheng Insurance Inc. in Bay Area, CA can help build the perfect plan to protect your dream.