When you’re starting a business, you have many things to think about, including commercial space, licenses, employment policies, owner agreements and state filings, and more. One important issue you cannot overlook is that of insurance coverage. Different types of companies need different types of insurance, and it can be beneficial to have a business lawyer in San Francisco review how to best protect your startup from liability.
This protects your business should it be the subject of lawsuits, settlements, or other legal claims. Such claims can involve injuries on the business premises, breach of contract, and more.
If you lease or own a commercial space for your business, it is essential to have proper insurance coverage for the property. This can cover damage from fire, theft, vandalism, and natural disasters. If you are in a flood or hurricane zone, it is wise to purchase separate flood insurance.
Some people make errors in judgment and fail to perform as they should for clients, which can be considered malpractice in many situations. Professional liability insurance covers malpractice and related claims against your business.
2020 has demonstrated that business can be disrupted for many different reasons. If you have to suspend operations due to physical damage to your business premises or related reasons, business interruption insurance can help cover your losses.
If you plan to have employees, you will need to carry workers’ compensation coverage in case someone gets injured in the course of their employment.
At Primum Law Group, we advise startups on a wide range of issues, including business insurance coverage and other important bases to cover. Call 415.293.8042 or contact us online to consult with a San Francisco business attorney today.