Uncovering Gaps in Your Business Insurance With a Commercial Insurance Review

At Murvay Insurance, we understand. Business owners in the Newport Beach, CA, area are busy. There are customers to take care of, employees to manage, and bills to pay. It can be a challenge to keep up with day-to-day tasks, let alone add in a special project.

However, scheduling a business insurance review is one added task you should get on your list.

Businesses change over time, and the commercial policy you originally purchased may be inadequate. You may now have gaps. Here are some examples:

Lack of Flood Insurance

Flood insurance is not provided under a general commercial policy. A review can verify whether you have coverage for flooding.

Not Sufficient Liability Coverage

We live in a litigious society, and a slip and fall that causes an injury can be costly. What may once have seemed like enough liability protection may no longer be adequate.

Protection Against Cyber Crime

Cybercrime, identity theft, and security breaches are becoming more common and costly. If your commercial insurance is inadequate, a commercial insurance review can uncover problems.

Income Replacement Coverage

Even if your business is covered for damage due to weather or a fire, could it survive without income while it is being repaired? Income replacement coverage may be the answer.

Schedule Your Business Insurance Review Today

Contact us at Murvay Insurance for a no-cost, no-obligation commercial insurance review for your Newport Beach, CA, area business. We can even provide a price quote. Don’t have business insurance? We can get you started. Reach out to us today!

Five Benefits of Securing Your Newport Beach Business with Commercial Insurance

Newport Beach, CA, business owners can protect their operations, equipment, and employees from the unforeseen challenges and risks of running a business by investing in comprehensive commercial insurance. 

Licensed insurance experts at Murvay Insurance can help you understand the benefits of commercial insurance and walk you through the process of securing your local business step-by-step. 

Benefits of Securing Your Newport Beach, CA Business

Benefit #1. – Property Protection 

Newport Beach is susceptible to unpredictable events, including weather-related disasters, fires, flooding, and theft. Comprehensive business insurance can protect your property, equipment, and inventory during shutdowns and disaster-related financial losses. 

Benefit #2. – Accident and Liability Protection

If your business is open to customers and employees, accidents or injuries like slip and falls can happen on your premises. Financially smart California business owners use commercial insurance as a shield to protect themselves against legal and financial liability claims. 

Benefit #3. – Business Interruption Protection 

Some unexpected perils can cause your business to suddenly shutdown without warning. Talk to a trusted insurance agent to learn how to get coverage for lost income and business-related expenses incurred during shutdowns. 

Benefit #4. – Protect Your Employees

Commercial insurance policies offer workers compensation for employees when they are unable to work because of an injury on the job. Protect your employees with comprehensive commercial insurance to foster stronger bonds and loyal relationships. 

Benefit #5. Peace of Mind 

A commercial insurance policy can act like a security blanket, offering policyholders peace of mind when they know their property, employees, assets, and equipment are fully protected from a variety of possible perils.

Contact a knowledgeable agent at Murvay Insurance in Newport Beach to learn about your options for coverage and get a free quote today! 

Four commercial insurance benefits that might surprise you

Business owners in Newport Beach, CA need to realize how important it is to carry commercial insurance. At Murvay Insurance, we provide commercial insurance coverage to area business owners.

Business owners can benefit from investing in commercial insurance in numerous ways. Here are four commercial insurance benefits that might surprise you. 

Commercial insurance can cover the costs of hiring legal representation.

If your company is sued, you will need to hire a legal defense. Business owners shouldn’t underestimate how expensive legal representation can be.

With commercial insurance, the costs of legal representation for your company should be covered. 

Commercial insurance can keep a company afloat during a business interruption. 

Business interruptions can make it hard for companies to survive. With a commercial insurance policy that includes business interruption coverage, you can enjoy healthy cash flow even if business operations at your company can’t go on for a certain period. 

Commercial insurance can make it easier for business owners to get financing.

Most business loan lenders require companies to have insurance before they will provide them with capital. This makes commercial insurance especially important if you want to seek out a business loan in the near future. 

Commercial insurance can cover overseas operations.

If your company operates internationally, you’ll be happy to know that many commercial insurance policies are in effect worldwide. Don’t stress out about overseas operations. Purchase commercial insurance, and you won’t face severe financial setbacks due to incidents in other countries. 

Call Murvay Insurance today to get a commercial insurance policy quote. We offer commercial insurance coverage to business owners in Newport Beach, CA.

How will commercial insurance protect my Newport Beach business?

The Newport Beach, CA area is a popular area to visit and live in. This can also make it a great place to start a small business. For those looking to build a business in this part of California, having insurance for it is very important. A commercial insurance plan is helpful when you want to cover and protect your business. There are a lot of benefits that come when you do get commercial insurance for your business.

Coverage for Assets

A good reason to have a commercial insurance plan is to get coverage for your assets. A business must invest in many assets to keep the company up and running. Losing these assets to theft, fire, or other forms of damage could be very detrimental to the organization. When you have the right commercial insurance plan in place, it will offer the support you need. 

Liability Insurance

A liability insurance plan is also an important part of commercial insurance policies. There is always a risk that your company can be named liable for an accident, and commercial insurance is the best way to reduce this risk. If you do get this coverage, it will provide the support that is necessary to offset this risk, which can protect the viability of your organization. 

If you own a business in the Newport Beach, CA area, it would be wise to speak with an insurance professional you can trust. When looking for a new plan in this area, it can be a great idea to call our professionals with Murvay Insurance. Our insurance team at Murvay Insurance can offer any support you need to build a new plan to protect you and your business. 

What commercial insurance covers in California

Commercial insurance covers several risks associated with running a business, including liability, property damage and loss, equipment damage or breakdowns, cyber hacks and data breaches, employee injuries or illness, workers’ compensation claims, and more. Commercial insurance can also protect businesses from financial losses due to natural disasters or unexpected legal issues that could disrupt operations.

Depending on the type of business you have and the policies you choose to purchase, you may be able to get coverage for specific areas like product liability or professional services errors and omissions. Depending on your particular needs, you can add other coverages to your policy. For example, most commercial insurance policies include general liability coverage designed to protect businesses from third-party claims and lawsuits related to bodily injury or property damage, advertising injury, medical payments, and personal & advertising injury. Other types of coverage that may be included in a commercial insurance policy are business interruption, equipment breakdown, cyber liability, employment practices liability, and more.

Commercial insurance policies are tailored to meet the needs of each individual business based on their operations, customer risks, and more. Business owners need to understand all the different coverages available to ensure they have the best protection for their business. Working with an experienced independent agent or broker will help ensure that your policy is up-to-date with all the protection you need. Commercial insurance gives businesses peace of mind knowing they’re covered if an incident shuts operations down.

If you have any questions about your commercial insurance needs, call us at Murvay Insurance today. We proudly serve the Newport Beach, CA area.  

What kind of commercial insurance do you need?

More than 20 commercial policy types exist. Which do you need?

At Murvay Insurance, we offer a wide array of commercial insurance to help you protect your Newport Beach, CA business. Commercial insurance sounds misleadingly like a single policy when it refers to a category of policies. More than 20 types of small businesses exist, but your business won’t require every kind of policy.

  • Business owner’s policy (BOP): nearly every business acquires this bundle of four common policies that costs less than the policies would separately.
  • Business interruption: reimburses a business’ lost income when a named peril causes temporary closure.
  • Commercial auto: the business version of auto insurance.
  • Builder’s risk/Construction: used when you need to renovate or remodel an existing business structure or construct a new one.
  • Crime policy: protection from loss due to burglary, theft, or robbery.
  • Debris removal: covers debris removal costs post-peril.
  • Directors’ & officers’ liability: covers a business’ legal costs and settlement if a party sues the board of directors or C-level officers.
  • Boiler & Machinery/Equipment Breakdown: covers equipment repair or replacement and the losses from business interruption.
  • Errors & omissions (E & O): covers court costs and settlements arising from mistakes in product manufacturing.
  • Glass: replaces plate glass and broken windows.
  • Inland Marine: protects third-party items transported by your business.
  • Liability: covers court costs and lawsuits from those injured at your business.
  • Malpractice/Professional Liability: covers court costs and lawsuits when an individual incurs an injury because a medical professional does not meet the "proper standard of care."
  • Law/Ordinance: covers the cost of a company to reconstruct a damaged property to meet building code standards after a peril caused irreparable damage.
  • Property insurance: pays for real property damage by a named peril.
  • Tenant’s insurance: pays for building repair when the leasee made building improvements, but the landlord’s employees damaged it.
  • Workers’ compensation: every state requires this medical insurance that protects employees when injured on the job.

Contact Murvay Insurance serving Newport Beach, CA to purchase the commercial insurance you need to protect your California business.

Required Commercial Insurance in California

Certain commercial insurance policies are required when you own a business in California. There are two types in the state that many companies are required to have to stay legal. If you have a California business, it’s essential to know what these are and whether your business needs them. Call us at Murvay Insurance in Newport Beach, CA to get your commercial insurance.

Workers’ Compensation Insurance

If your business has any employees at all, even just one, you are required to have workers’ compensation insurance for them. This is true whether the employees are part-time or full-time. This insurance gives your business coverage in case an employee has an accident at work and gets injured or develops a work-related illness. When this happens, this insurance will pay for their medical bills and other costs like lost wages so that your business won’t have to. It’s effective protection for your business, and it protects your employees as well. 

Commercial Auto Insurance

When you have a business that owns a vehicle, you are required to have commercial auto insurance. This policy must have different amounts of coverage to give you different kinds of protection. A specific minimum amount is required for one person who becomes injured in an accident for your bodily injury liability. There is another amount required for bodily injury liability for all injured people in an accident you caused. There is also an amount required to pay for the damage done to the other party’s property for property damage liability. All of these minimum amounts are very low when compared to other states. Getting a higher amount than the state’s minimum is generally recommended. 

Get Your Business Covered

When you need commercial insurance, we’re here to help. Call us at Murvay Insurance in Newport Beach, CA.


Benefits of Commercial Insurance In Newport Beach, CA

It is more important than ever to have commercial insurance in today’s world. All sized businesses can benefit from the coverage that commercial insurance provides.

Here’s a look at some advantages commercial insurance can provide for companies in Newport Beach, CA:

1. Protect Your Business Investment

The first and most apparent benefit of commercial insurance is that it protects your business investment. No matter what type of business you have, your equipment, inventory, and property are valuable investments. If something happens to them, commercial insurance can help you recover the cost of repairs or replacement.

2. Safeguard Your Business from Liability

Another significant benefit of commercial insurance is safeguarding your business from liability. If someone sustains an injury on your property or one of your products, they could hold you liable. This means you will pay any medical bills or other damages incurred by the injured party. Commercial insurance can help cover these costs, protecting your business from financial ruin.

A Murvay Insurance agent can help you find the right commercial insurance policy for your business. Contact us today to learn more about commercial insurance and how it can benefit your business.

3. Peace of Mind

Finally, commercial insurance can reduce stress. When you know your business is protected from the risks mentioned above, you can relax and focus on growing your business. Commercial insurance gives you peace of mind, knowing that you are covered in case of a disaster.

These are just a few benefits that commercial insurance can provide for businesses in Newport Beach, CA. If you’re looking for reliable coverage for your business, contact Murvay Insurance today. We’ll work with you to find the policy that fits your needs.

Commercial Insurance To Consider When Starting A Business

If you are thinking about starting a business, one of your top priorities is to purchase the commercial insurance that you need to protect your assets. Today, it seems like new businesses are popping up everywhere. People are discovering untapped markets, profiting from their talents, skills, and knowledge on every level.

As a new business owner, there are several things to consider before you open your doors. One of those is decided on the types and amounts of commercial insurance you need in Newport Beach, CA. Fortunately, you do not have to embark on this journey alone. The professionals at Murvay Insurance are here to guide you through the entire process.

Why You Need Commercial Insurance

As a business owner, you have personal and business assets that you need to protect, such as your savings and your property. For some businesses, to obtain proper licensing to conduct business legally, you will need specific coverage in place. You must learn about all of these requirements before announcing that you are open for business.

Additionally, commercial insurance can help with covering the expenses relating to any property damage or lawsuits that you may face. When you own your own business, you are financially responsible for all accidents and mishaps, including attorney fees, settlements, court costs, and replacement or repair costs.

Types of Commercial Insurance to Consider

There are five main types of commercial insurance that you will want to focus on when starting a business, including:

  • Business owner’s policy
  • Professional liability insurance
  • Cyber liability insurance
  • Commercial auto insurance, if you or your employees use automobiles to perform work duties
  • Workers’ compensation, if you have employees

If you are starting a business in the Newport Beach, CA area and have questions about the type of insurance coverage you need, contact the experts at Murvay Insurance. Call today.

Commercial Insurance & Employee Protection

Commercial insurance is an important component involved in running any kind of business. When you have the right insurance, you protect not only yourself but also your employees.

Are you unsure about your commercial insurance needs? Murvay Insurance, which serves Newport Beach, CA, can help you determine ways you can protect your employees.

Commercial Insurance Provides Business Coverage

When you operate a business, you may rely on commercial insurance to protect your company if there is a major disaster or you have some sort of liability for an injury. If you have employees at your business, your coverage does extend to them in some ways as well.

For example, if you have commercial coverage for your company’s cars, any employee driving them may be covered by your policy if they are involved in an accident. Your employees may not be held responsible separately, and your personal assets are not at risk either.

Your Plan May Include Health Insurance

Many commercial insurance plans also provide health coverage. You can add commercial health to your plan to provide for medical expenses and disability claims by your employees. If you are a small business, you can work with an insurance agent to determine what kind of coverage your state requires or recommends.

Your Plan May Include Workers Comp

Any business owner has concerns about what happens when an employee becomes injured or ill at work. With a commercial insurance plan, you may be able to secure workers comp insurance, which protects you if an employee is injured, ill, or disabled because of an incident that occurs at work. You are protected from financial loss, and your employee is protected too.

Get an Insurance Quote

Are you unsure how to provide the most commercial and employee protection? There are many ways to protect everybody involved. Contact Murvay Insurance if you are in Newport Beach, CA to learn more.