Business Insurance

The first line of defense against threats.

Contact us for a FREE business quote today!

Contact us for a FREE business quote today!

BUSINESS INSURANCE

Proper protection for you, your family, and the assets you work so hard to earn are the reason our agency exists. In many cases, we do not provide instant quoting for several important reasons. People rely on our knowledge and expertise to coordinate their insurance program. Without this professional assistance, many people find they may have dangerous gaps in their coverage and may be personally liable for losses which were unknowingly omitted.

Types of insurance we can help you with:

Business Liability & Property

If you’re a business owner in Murrieta or anywhere in California, you understand the need to protect everything you’ve worked so hard to build.

In today’s litigious society, you need the right people on your team to advise and guide you to make sure that your business is properly covered. Your business is your livelihood, and it’s what pays the bills and feeds your family. Protecting you, your business and your family is a serious matter.

Business can be challenging and frustrating at times. We are in business too and understand what you face daily. We pride ourselves in making your life easier by removing the guesswork from your insurance. You can trust our knowledge gained over 79 years of combined experience to help you make the right coverage decisions.

There are many parts that can make up a Murrieta, CA Business Insurance policy. Too vast to mention here, but would love to discuss with you.

Knowing which coverages you need, and which ones you don’t, is critical to finding the right balance between protection and price. As a business owner, you want to find ways to save money and cut costs wherever you can, but you also want to make sure you have the right amounts and types of insurance so there are no gaps.

It’s imperative to work with a seasoned team of insurance professionals that understand commercial insurance completely and can put together a package that makes sense and fits your unique business needs.

As your premier, local independent Murrieta Business Insurance Agency, we have access to over 61 top rated companies, so we can search the entire market to find the best combination of coverage and price.

Every business is different, so we don’t take a “one size fits all” approach. By listening to your needs, and then custom tailoring a comprehensive plan, you’ll why so many people trust the Stromsoe Insurance Agency Total Protection team to insure their business and everything they work so hard to build.

You’ll feel comfortable with your decision to work with us. All of your questions will be answered, and you’ll understand what you are buying and why you need it. You will sleep easier at night knowing that you have the best protection for your business, from the right agency.

Let the professional protection coaches at Stromsoe Insurance Agency handle your insurance, so you can focus on building and taking care of your business.

If you’re looking for business insurance in Murrieta or anywhere is California, Contact one of our friendly, helpful agents to help you learn more about your various coverage options, decide what is best for you and your family and receive your complete coverage review, as well as your free California business insurance quote today!

Workers Compensation

If you own a business in Murrieta, having a workplace that is protected gives you extra security. As an employer, you have an obligation to ensure a safe work place and the law requires a business to have Murrieta Work Comp Insurance.

As the only “Certified Work Comp Advisor” agency locally, we created the CorrectComp system so every employer can be educated about the 7 Dirty Secrets of Workers Compensation insurance. Take a peek below:

Dirty Secret #1

Insurance companies don’t pay for your employee injuries – they just finance them for you at usury interest rates. Do you realize that you pay $2 to $3 back to the insurance company for every dollar they pay out for your employee injuries? Each claim results in the most expensive financing contract you have in your business.

You pay outrageous premiums. Then you have to pay for almost all of your claims. You pay:

  • For employee injuries through lost dividends and return of premium
  • Increased costs because your Experience Modification skyrockets
  • Lost productivity
  • Reduced morale for the unhurt employees who fill in for the injured employee
  • Increased stress for management and staff

You have Workers Compensation for only two reasons:

  • The law requires it.
  • Workers comp spreads the true cost of employee injuries out over time.

Work Comp does not pay for employee injuries. You do!

Dirty Secret #2

Claims Management Services are usually dreadful. Now that you know you write the checks for your employee’s injuries (you can have more proof if you want it) you should realize how critical it is for you to demand “two thumbs up” claims management service.

Claims adjusters are snowed under with too many cases. Your injured employee doesn’t get the attention he or she deserves. In spite of this, insurance companies continue to downsize as they strive to increase profits.

Add Managed Care to the mix and your employee’s claim is often outsourced to a case management company. The adjuster doesn’t even know what is happening or how your injured employee is being treated. You just can’t notify the insurance company your employee was injured and expect them to “do their job.” You must have a proven process in place to minimize the cost of the injury and expedite your injured employee’s return to work.

Dirty Secret #3

You are penalized and overpay when the “Audit Police” make a mistake on an audit.

Because your real insurance cost is determined after your policy expires, it is essential the audit is correct.

You’re at a disadvantage from the start. The insurance company auditor knows the rules, you don’t. The auditor is not compelled by law to explain the rules, especially if applying a rule that would cause you to pay a lower premium.

Here’s how the auditor works against you:

  • Your entire payroll is put into the highest classification
  • Then, the “standard class exceptions” are put into the correct cost classification. When someone is not properly moved to the lower cost classification, you pay at the highest rate.

Misclassifications are common and the system is designed for you to pay for all mistakes. There are many other errors or omissions that are made in addition to misclassifications.

Would you allow an IRS agent to conduct an audit without an expert on your side?

Of course not. Then, why allow an insurance company auditor to conduct an audit without an expert at your side? A workers comp audit may actually cost you more money than an IRS audit. A workers comp audit is every year. You may go years without an IRS audit.

Dirty Secret #4

Experience modification factors are often wrong or mismanaged
Most insurance buyers accept on “good faith” that their experience modification factor is correct? Why?

You need to know, because most of the time it may be wrong and the insurance company benefits. Even correct, there are simple strategies to lower it Do you know those strategies?

Dirty Secret #5

Your “Net Rate” may not be what it appears to be

Did you just buy your workers comp based on that fancy proposal your agent presented or did you really read the contract that states the terms of your program?

If you don’t understand the contract, you’re in for a big surprise that could cost you thousands.

Dirty Secret #6

Your money will fly away unless your agent pays closer attention to your Workers Comp than any other insurance buy.

Here’s what your agent must do to insure you have the best value for your workers comp insurance:

  • Claims need to be monitored
  • Premium audits must be managed and verified
  • Experience modifications must be double checked for accuracy
  • Contract must be analyzed
  • Sub-contractor’s insurance must be controlled

Many actions are time sensitive. If you don’t know why 6 months after your policy expires is such a critical date, you may be overpaying your insurance.

If you need a specialist in any one area of your insurance program, it is in the management of your insurance that affects your employees the most- workers compensations, medical and disability benefits.

Dirty Secret #7

You can drastically slash your costs – if you install the right system.

Correct Comp only works with employers, like you, on insurance that affects your employees – typically 20 to 25% of your payroll costs. Wow!

Through implementation of Stromsoe Insurance Agency’s exclusive Correct Comp System you can drive your employee related insurance costs down 20% or more.

Contact the Correct Comp team at Stromsoe Insurance Agency at 877-99406787 and challenge them to help you fatten your bottom line. After all, that’s where each dollar you save goes.

How much more do you have to sell to add another 10% of payroll to your bottom line?

Work Comp insurance can provide the coverage to protect you from those unpredictable occurrences.

We take a proactive approach to our clients’ Workers’ Compensation challenges. We will work to reduce your insurance costs, thereby saving you money this year and years to come.

Coverage and benefits can be obtained for the worker no matter who is at fault.

For those workers injured in the workplace, medical expenses, and income replacement may be necessary. With our network of companies, we’ll help you find the right policy that meets all your needs.

By contacting us today, we can assist and guide you through these complicated steps.

How does this benefit the business owner?

  • Reduced injuries and losses
  • Reduced medical and disability costs
  • Reduced policy adjustments
  • Reduced premium costs

Rates for these policies are dependent on the degree of hazard that each occupation carries. Each occupation is coded and defined by state laws. Premiums are determined by the amount of payroll in each occupation code and is subject to annual audit for verification.

Business Cars & Trucks

As your premier local independent business insurance agency partner, we are dedicated to securing the best business auto insurance protection for you and your business. Driving has become a necessary part of operating a business and is something many of us truly cannot live without. Whether your business vehicles are driving to Los Angeles, Orange County, San Diego or beyond—every time your drivers get behind the wheel, your business is at risk.

The Stromsoe Insurance Agency team is here to serve and protect you and to provide top-notch business auto insurance protection to business owners all across CA. We realize there is no “one size fits all” policy, so we take a different approach. We have the ability to provide you with competitive auto insurance quotes from 17+ companies, allowing you to secure your policy with us from the comfort of your own home! The shopping is done for you

Our mission is to passionately serve you in a manner that consistently exceeds your expectations. We promise to work together as a unified team, with genuine honesty, integrity, transparency and a caring, fun attitude that makes our relationship dynamic. Our promise is: At Stromsoe Insurance Agency “going the extra mile is part of your experience with our Total Protection Team”

It’s important to remember that your partners at Stromsoe Insurance Agency in Murrieta, can protect you from loss in the event of an unfortunate accident, making the policy all the more critical.

At Stromsoe Insurance our goal is to give you as many options as possible.  Our comprehensive insurance solutions provide you with the opportunity to custom build a policy that meets all of your car insurance needs. Whether you or your drivers, have a perfect driving record or have a ticket or accidents, we have the experience, expertise and represent all of the companies to find you the right protection at the best rate while providing the most insurance value for your dollar.

We offer the following options and more for your California business auto insurance needs:

Bodily Injury Liability – Coverage for damages that involve bodily injury to others for which you become responsible under law.

Property Damage Liability – Coverage for damage to property of others for which you become responsible under law.

Medical Payments – Coverage for reasonable and necessary medical expenses and funeral services for those who are accidentally injured while in your automobile or while getting into or out of your automobile.

Personal Injury Protection – Coverage for medical, hospital, rehabilitation, loss of wages or loss of services costs resulting from injury to you or any resident family member. In case of death to the insured or a resident family member, death benefits and survivor benefits, if applicable, will be provided.

Other coverage that may be obtained include:

Comprehensive – Protection for the loss of or damage to your vehicle and its equipment from all causes except collision, subject to the deductible on the policy.

Collision – Protection for the collision damage to your automobile and its equipment, subject to the deductible on the policy.

Uninsured Motorist – Coverage allows you to recover bodily injury damages due to an accident where the other party does not have insurance, and is found legally liable.

Underinsured Motorist – Coverage allows you to recover bodily injury damages due to an accident where the other party is found legally liable and does not have adequate liability limits.

Additional Expense – Coverage for necessary additional expenses incurred as a result of a loss for which you are protected under comprehensive or collision coverage. These expenses include rental cars, food, lodging and other incidental expenses.

Hired Auto Liability Coverage – Covers liability for automobiles hired under contract on behalf of or loaned to the named insured.

Hired Auto Physical Damage – Coverage for an automobile of any type, hired, borrowed or leased on a short term basis for use in the insured’s business.

Employer’s Non-Ownership Liability – Coverage for a private-passenger automobile used in the business of the named insured by any person, or the occasional and infrequent use of a commercial automobile in the business by any of your employees

And more….

Every business is different, so we don’t take a “one size fits all” approach. By listening to your needs, and then custom tailoring a comprehensive plan, you’ll understand why so many people trust the Stromsoe Insurance Agency Total Protection team to insure their business and everything they work so hard to build…

You’ll feel comfortable with your decision to work with us. All of your questions will be answered, and you’ll understand what you are buying and why you need it. You will sleep easier at night knowing that you have the best protection for your business, from the right agency.

Contact one of our friendly, helpful agents to help you learn more about your various coverage options, decide what is best for you and your business and receive your complete coverage review, as well as your free California business auto insurance quote today!

Group Health & Benefits

Health Insurance is one of your most expensive insurance purchases you make today. And for your employee team members, one of the most in-demand benefits. Because of its expense and changes in the health care laws, many people decided to go without coverage. This decision increases the cost of health insurance for everyone.

But before explaining how complex health insurance products are, let’s talk about price. It’s pretty complex, too.

What’s going on out there? Why are the prices going up so fast?

Note. While there are a number of different answers to this question, please keep in mind that some of the different variables effect prices more than others for example your age and health to name just a few, and different states and regions in the country will experience slightly different trends in healthcare increases.

Mandates. A politician’s favorite, they attempt to legislate “body part by body part”. While not individually expensive, can add up to substantial increases in premium. They vary from mandates of conditions that many insurers already cover like chiropractic care and often require coverage without limitations, to mandates that have limitations on the riders that Insurance companies can place on existing health conditions.

Patient Protections. Many new “patient protection” provisions are expected to receive attention this year. For example the right to sue an HMO or the right to an independent external review of claims for any grievance by a dissatisfied customer.

Managed care. Many states are reviewing laws related to managed care plans and creating new rules to address network adequacy, doctor qualifications, and specialist availability. These bills lump PPO and HMO carriers together as managed care. Additionally, doctor groups are promoting anti-trust bills that will allow them to “unionize” and collectively bargain their contracts.

Prescription Drug Costs. The costs for prescription drugs have been escalating faster than a rocket shooting to the moon. Part of it is greed by the pharmaceutical companies. Everywhere you go you’ll see an advertisement for the newest, latest and greatest drug. This certainly contributes a great majority to the cost. To the drug companies’ credit, R&D adds a great amount to the cost of medicine. A lot of medicines never make it to market.

Increased Demand & Utilization. We are increasingly becoming a society of little or no patience. If little Johnny has a nose sniffle, many people will run to the Emergency room with little Johnny. Also, the nation’s appetite for better more costly procedures is increasing rapidly. If little Johnny has a dire disease and there is a newer and better treatment, albeit probably much more expensive, we certainly want the best for our little Johnny.

Too Many uninsured. Today there are close to 38 million uninsured people in this country. Many medical providers today including but not limited to hospitals and medical clinics today will treat people that don’t have insurance. When the medical providers don’t receive money for their services they have to pay for it somehow. They raise overall prices for everyone thereby shifting healthcare costs disproportionately onto the folks that actually pay their bills. Somehow the 38 million uninsured need to get into the system.

What is employer group health insurance coverage?

Group health insurance coverage is a policy that is purchased by an employer and is offered to eligible employees of the company (and often to the employees’ family members) as a benefit of working for that company. The majority of Americans have group health insurance coverage through their employer or the employer of a family member.

Are all employer group health insurance policies the same?

Many people don’t realize that health insurance is issued differently for different types of employers and because insurance is regulated at the state level of government, the laws regarding health insurance offered by the different types of employers can vary significantly from state to state.

Millions of Americans work for small employers, which for health insurance purposes are generally those with 50 employees or less. Millions of other Americans get their health insurance coverage through large employers. Generally, those are Millions of other Americans get their health insurance coverage through large employers. Generally, those are

Generally, those are business with more than 50 employees. The laws about how coverage can be issued to large groups are different than those for small groups, and the way that premium rates are determined is also different. The requirements for sole proprietors purchasing health insurance coverage also vary on a state-by-state basis.

What are the coverage requirements for small employer plans?

Federal law mandates that no matter what pre-existing health conditions small employer group members may have, no small employer or an individual employee can be turned down by an insurance company for group coverage. This requirement is known in the insurance industry as “guaranteed issue.”

In addition, each insurance company must renew its small employer health plan contracts every year, at the employer’s discretion, unless there is non-payment of premium, the employer has committed fraud or intentional misrepresentation, or the employer has not complied with the terms of the health insurance contract.

What kind of policy should I buy and how to get the most bang for your health insurance dollar:

  1. Get something started as soon as possible. It may sound basic, but some coverage is better than no coverage at all. Even if you start with a policy that pays for basic care like (doctors office visits) for example. Your doctor may be able to see the warning signs or symptoms of something more serious in nature that could save yours or one of your loved ones life.
  2. Raise Your Deductible – The deductible is the amount you pay before insurance kicks in when you have a claim. For example, if you have a $500 deductible and you have medical expenses in which your claims totals around $1,000, you pay the first $500 and your insurer pays the balance at the coinsurance percentage. The lower the deductible you choose, the more you pay. If you have assets, you can probably afford to absorb at least $500 and probably $1000 if you have a claim. You’ll need to figure the difference in premiums to see what’s in your best interest. Most generally the insurance companies price the premiums for different deductibles far enough apart that you’ll be able to save the difference in premium compared to your deductible.
  3. Shop around for medical care before you commit to a certain doctor or hospital. Even though it’s medical care, it can still pay to shop around. It’s surprising how doctors and hospitals can be so far apart on their prices. Also some doctors and hospitals will take whatever the insurance pays. If we as a society just keep blindly paying whatever the doctor or hospital charges us, medical bankruptcy is not far away. If it’s a medical emergency, obviously you need to get care right away. Never sacrifice your health!
  4. Compare Insurance policies and prices no company has the lowest price all the time. Also with newer medical breakthroughs being brought to the market on a regular basis, some companies change their acceptability guidelines and even though you may not have been medically accepted before to an insurance company, you may be now. Also be sure to check out the potential insurance company financial ratings, so that you’re dealing a financially solid company.

Be a smart consumer…but don’t try to be your “own agent.” Protection for you and your business requires constant vigilance….and a partnership between you and your professional, local, independent insurance agent.

If you’re looking for group health insurance in Murrieta or anywhere is California, Contact one of our friendly, helpful agents to help you learn more about your various coverage options, decide what is best for you and your family and receive your complete coverage review, as well as your free California group benefits insurance quote today!

Cyber & Privacy Liability

If you’re a business owner in Murrieta or anywhere in California, you understand the need to protect everything you’ve worked so hard to build.

In today’s tech-driven society, you need the right people on your business insurance team to advise and guide you to make sure that your business is properly covered. Your business is your livelihood, and it’s what pays the bills and feeds your family. Protecting you, your business and your family is a serious matter.

Business can be challenging and frustrating at times. We are in business too and understand what you face daily. We pride ourselves in making your life easier by removing the guesswork from your insurance. You can trust our knowledge gained over 79 years of combined experience to help you make the right coverage decisions.

There are many parts that can make up a Murrieta, CA Business Insurance policy. One of the most important, and misunderstood, is Cyber and Privacy Liability…

What is Cyber and Privacy Insurance?

Simply put – It’s a type of insurance designed to cover people who use technology services or products. In today’s world, that is everyone. More specifically, the policies are intended to cover a variety of both liability and property losses that may result when a business engages in various electronic activities, such as selling on the Internet or collecting data within its internal electronic network.

Most notably, but not exclusively, cyber and privacy policies cover a business’ liability for a data breach in which the firm’s customers’ personal information, such as Social Security or credit card numbers, are exposed or stolen by a hacker or other criminal who has gained access to the firm’s electronic network. The policies cover a variety of expenses associated with data breaches, including: notification costs, credit monitoring, costs to defend claims by state regulators, fines and penalties, and loss resulting from identity theft.

What are the stakes in who is most at risk?

The potential consequence of a data, privacy and/or network security breach to a small business is significant. According to the Ponemon Institute’s 2014 Cost of a Data Breach Study, data breaches now cost 3.5 million on average, which is 15% increase over 2013. The same study also found the cost per lost or stolen record is on average $145, a 9% increase over the previous year.

Yet according to the insurance industry 2014 small business success study, 31% of small businesses owners think there will be no impact to their business whatsoever if it experienced a data breach. But in reality, for many small businesses, sustaining a loss at these levels would severely cripple them, or even put them out of business.

Costs arising from the data breach can include forensic IT expenses, fines, credit monitoring and identity restoration, crisis management activities and attorney’s fees. One significant cost is notifying affected people of the breach. Presently 47 States, the District of Columbia, Guam, Puerto Rico, and Virgin Islands have an active data breach notification laws.

The logistics around notifying victims alone can be costly. According to the Ponemon Institute, US organizations on average spend $565,020 on breach notification. The cost and complexity of notification increases with the number of states in which a small business does business since they are subject to the laws of each state where the customers are located. Complying with the regulatory requirements of various states requires a tremendous amount of coordination, time, and resources, of which many small businesses simply do not have.

The threat of a lawsuit by consumers or other affected parties is also a risk. Although victims typically must prove they have sustained demonstrable losses in order to prevail in a suit, in a few significant cases judges have denied motions to dismiss if there was a possibility of future damages. In 2014 a data breach class action with no claim of financial harm was settled, suggesting some companies may be more vulnerable to lawsuits than was previously believed.

Firms that collect valuable information such as payment card or healthcare information are not only ones at risk. The intentions of cybercriminals vary. Some may seek trade secrets or other intellectual property, others may want access to a larger and potentially more profitable corporate partner, and yet others may want to use compromised small businesses computers as part of a platform to launch other attacks.

It was reported that on average 30,000 new websites per day – the majority which belong to legitimate small businesses – are infected and unknowingly distribute malicious code for cyber criminals. Inadvertent transmissions such as these reinforce the importance of network security and the risk of third-party liability if an organization’s negligence and network security leads to malicious code being transmitted to someone else.

Again no one is immune from the threat of an attack.

Knowing which coverages you need, and which ones you don’t, is critical to finding the right balance between protection and price. As a business owner, you want to find ways to save money and cut costs wherever you can, but you also want to make sure you have the right amounts and types of insurance so there are no gaps.

It’s imperative to work with a seasoned team of insurance professionals that understand commercial insurance completely and can put together a package that makes sense and fits your unique business needs.

As your premier, local independent Murrieta Business Insurance Agency, we have access to every top company, so we can search the entire market to find the best combination of coverage and price.

Every business is different, so we don’t take a “one size fits all” approach. By listening to your needs, and then custom tailoring a comprehensive plan, you’ll why so many people trust the Stromsoe Insurance Agency Total Protection team to insure their business and everything they work so hard to build…

If you’re looking for business insurance in Murrieta or anywhere is California, Contact one of our friendly, helpful agents to help you learn more about your various coverage options, decide what is best for you and your family and receive your complete coverage review, as well as your free California cyber and privacy insurance quote today!

Employment Practices Liability (EPLI)

Why You Should Think About Carrying Employment Practices Liability Insurance(EPLI)!

We don’t know about you, but it’s been our experience that being a business owner is a humongous challenge. It’s particularly difficult when you are unexpectedly forced to respond to actions of disgruntled employees.

What if, despite your best efforts and those of your company, an employee:

  • Feels that he/she was treated in a grossly unfair manner and decides to complain to the Equal Employment Opportunity Commission?
  • Another employee feels they were passed over for a promotion they believed they had earned and decided to pursue legal redress
  • A merger forces layoffs of some long time employees who all sue the employer

For today’s business owner, the field of employment practices is more aptly called a minefield, from the fortune 500 companies right down to the mom and pop establishments, every business owner is open to the possibility of costly litigation at the very least and costly settlements and/or jury awards at the outside. Employers face enormous risks in hiring and firing staff.

Wrongful termination claims have grown to rival the number of harassment charges. More than half of all federal employment charges involve claims of wrongful termination. Employees win an alarming 51% of those lawsuits. Allegations from current, former, prospective employees can range from termination to the infliction of emotional distress created by a hostile environment. Fortunately, there is something you can do.

It’s called “Employment Practices Liability Insurance, (EPLI for short). EPLI was developed in response to the increasing number of claims and suits filed against employers. EPLI coverage focuses primarily on protecting against financial loss from claims of wrongful termination, discrimination, and harassment, but can also cover a host of other employment related actions. Business owners can no longer afford to ignore the threat posed by employee lawsuits. EPLI has rapidly become an essential part of the corporate insurance portfolio.

If you want to make sure you are properly protected, Contact and talk to someone on our business insurance team about Employment Practices Liability Insurance so you can learn more about your various coverage options, decide what is best for you and your business and receive your complete coverage review, as well as your free California EPLI insurance quote today.

PS Most standard insurance policies provide absolutely no protection against employment practices liability insurance. If you think you are covered for claims of wrongful termination, discrimination, and harassment, you’re probably wrong. You likely don’t have any coverage.

Get Your Special Report For Businessowners

certificate-request-v1

Business Insurance: Certificates

Certificates and bonds are a very important part of your insurance program. We recognize the importance of working on your schedule, not ours. Place your requests instantly 24 hours a day, 7 days a week. Your requests will be processed, and you will receive a confirmation within 24 business hours. To make certain your requests are correctly and promptly processed, there are several simple things you can do.

  1. Be sure to send us your request at least 24 business hours prior to your deadline.
  2. Make certain we always have either an email address or fax number for the Certificate Holder.
  3. Provide all special requirements or endorsements required. If you have any question on the requirements, please email or fax us a copy of applicable contracts pertaining to the certificate requirements and we will review them for you.
  4. Make certain we have your contact information in the event we need to reach you.

Printable Certificate Request Form