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Why You Need Business Insurance

Sep 10, 2020

When you formed your business, you probably decided to make the entity a Limited Liability Corporation (LLC) or Corporation to protect your personal assets. Forming a corporation is a wall between corporate and personal assets. But, be aware, this wall is imperfect and can be challenged or broken through.

Call Nick Heimlich, San Jose corporate attorney today for a free case review.

Business insurance protects you regardless of your corporate status (although if you have a corporation, make sure it is in the corporate name). Business insurance also helps to pay (after any deductible) for many types of loss you can experience as an owner. Another point to consider is that insurance may differ between different types of corporate entities.

Let’s look at a hypothetical business example to see how insurance could be helpful.

A widget store in San Jose just opened inside Santana Row. The widget store sells high-tech phones, electronics, computers, and accessories. It also provides computer service on and offsite for homes and businesses.

  • A new customer falls in the widget store and breaks her artificial hip. She is hospitalized and must have a new hip inserted and can’t work for six months.
    • What type of coverage is needed? Premises liability insurance.
  • A small fire breaks out in the widget store and causes minimal damage but destroys sections of the mall’s common area.
    • What type of coverage is needed? Premises liability insurance alongside the mall owners as an additional insured.
  • An employee who has worked too diligently gets carpal tunnel from repetitive movement.
    • What type of coverage is needed? Workers’ compensation, either through the State Compensation Insurance Fund or a private carrier. In addition, corporate insurance may vary by state. If the injury is legitimate, we encourage you to pressure your carrier to provide medical treatment promptly. Slow treatment can often lead to worse injuries and a much larger claim, which will affect your insurance premiums.
  • Max, a widget store team member, is in a hurry to get to his scheduled appointment on time and fails to stop and rear-ends a motorcycle. The motorcyclist is in bad shape and won’t ever be the same.
    • What type of coverage is needed? Auto insurance and possibly workers’ compensation. And is the policy big enough? Many people have a minimum policy of $30k-$50k or $100k-$300k. A serious incident could be a multi-million dollar liability. The widget store should have a larger policy for its vehicles.

Generally, there is insurance for most things you can think of, such as:

  • Business Income
  • General Commercial
  • Health, Dental, Vision
  • Job Injuries (Work Compensation) for employees
  • Premises Liability
  • Director and Officer Insurance
  • Credit Insurance
  • Disability
  • Property Insurance
  • Title Insurance
  • Liability Insurance
  • Employment Practices Liability Insurance

Make sure your insurance policy covers not only paying for any settlement but also the full cost of providing an attorney. Many do, but you should check your policy for deductibles or other expenses.

Contact Nick Heimlich Law Today

Hire an experienced attorney to protect your business. We can advise you on how to ensure that you are not personally liable for unforeseen accidents and can address many other legal issues your business may face.

Call Today To Schedule Your Appointment

C O Lee Boyce Jr
C O Lee Boyce Jr
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Nick provided me sage advice with my issue. He was efficient, thoughtful, and good natured about the whole process.
David Duckworth
David Duckworth
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I recently received legal advice from Nick and he was very professional and easy to talk to. He gave us great advice and I would definitely use him again if needed. Thank you Nick!
Rebecca Bauer
Rebecca Bauer
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Nick was excellent! Very knowledgeable, asks great questions, and quickly understood the situation and was able to give great advice. I so appreciated his time, insight, and expertise in assisting with our situation. Highly recommend!
Charles Chen
Charles Chen
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Mr. Heimlich has been very responsive to my case and provided extraordinarily useful advice. Thank you!
Mario Cassara
Mario Cassara
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Nick Heimlich was very professional and knowledgeable in my case. He left a lot of the worrisome I had in my case to the expert and was very good at what he does. I will recommend Nick to anyone who needs council!Much appreciative,Mario
Taryn Harada
Taryn Harada
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This was the first time ever needing a lawyer for something, I was a bit frantic and overwhelmed with everything going on, but Nick and his team were very professional and honest, and made me feel at ease about my case. They were even professional and cool with the opposing attorney even though she was being unprofessional at times. In the end, they were able to settle my case and bring me a satisfying outcome. If you're ever in a bind and need a business lawyer, I highly recommend Nick and his team.
Jay Kamdar
Jay Kamdar
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I am an officer at a company that provides B2B Demand Generation services to marketing and sales. Over a number of years, I've worked with Nick Heimlich for legal services. He has advised me well and helped to represent the company in multiple legal disputes including in Court. I am very satisfied with his work and highly recommend him.
Rami Gideoni
Rami Gideoni
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I needed some legal consultation and per recommendation I received, I have approached Nicholas. He got back to me quickly and provided great service, he was patient, professional and knowledgeable. His advise is much appreciated, it cleared the situation, draw the next steps to follow and placed my mind to peace .I would definitely recommend his service.
I A
I A
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Nick answered all of my questions with direct and concise answers to my situation. Thank you!
Abe Honest
Abe Honest
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Mr Heimlich was very professional kind and knowledgeable when I give him a call. I was calling to hire an attorney for an tenant and landlord dispute. I had a particular issue that Mr Heimlich took time to completely listen to me. unfortunately the area I needed help was not an area that Mr Nick practiced. but he was not hesitant to give me some leads and direct me to the right place. he's a man of character and cares about what he does, I can only imagine his level of excellence in his area of expertise. he's a man of great character and I would recommend him for anyone to give him a call and talk to him. thank you very much Nick. thank you for caring .
Tilo S
Tilo S
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Nick was very helpful when I needed legal advice.Thank you!
Bay Small Moves
Bay Small Moves
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Andyn79 Nguyen
Andyn79 Nguyen
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He wasn't able to take me as a client but had about 10 mins so he told me tell me and just from that i was able to be clear and did win from really dishonest people. So i am thank you telling the truth gets it's own reward
M C
M C
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I entered into a membership contract that had unreasonable cancellation requirements. I went to Nick through my company’s employee assistance program. Nick did thorough research and found that the contract term exceeded term limits allowed by California law. As a result, I was able to cancel the contract without any penalty. I was very satisfied with the outcome.
Mark Brown
Mark Brown
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Nick was very helpful when I needed assistance dissolving an LLC. Not only did he create the appropriate documentation, but he educated me on the process. His guidance was invaluable, and everything resolved smoothly. I would certainly use his services again in the future.
Bonnie Nevitt
Bonnie Nevitt
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My family cannot thank Nick enough. We needed a business litigation attorney for a lawsuit that was going to trial, he not only took the time to understand the complexities of the case but was able to convey that to the judge. He was able to get us amazing results. Hands down the best attorney we have ever worked with.
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