When you own a Texas business, there are many different types of commercial insurance that can help you protect that business. There is one type that is required for certain businesses. Others are highly recommended because they can save a business from financial destruction. When you need to get any type of commercial insurance, you can call us at Insurance Over Texas in Houston, TX to find out more.
Commercial Auto Insurance
It’s required that you have commercial auto insurance if your business owns a vehicle. Every vehicle must be covered by these policies in order to stay legal. If you had a personal auto insurance policy on a work vehicle, they generally would not pay out for an accident. There are three amounts of coverage that have to be included in the policy. One is for bodily injury liability for a single person who is injured in an accident. Another is a per-accident amount for bodily injury liability. The last is for property damage liability. The required amounts in the state are average when compared to other states, and you may want to add more coverage in case of serious accidents. It’s generally recommended to get collision coverage as well. This pays for the damage to your work vehicle in an accident.
Other Commercial Insurance
While other states mandate that companies have workers’ compensation insurance, Texas does not. However, it’s a good idea to get this coverage if you have any employees. This is liability coverage that will pay for the medical bills and other costs associated with accidents that happen on the job. It’s important to have this insurance to keep your business protected against what could be huge medical bills. There are also other useful commercial policies you may need such as cyber insurance, professional liability, and more.
Get Commercial Insurance
To get the policies you need, call us at Insurance Over Texas in Houston, TX.
Being a business owner comes with risk. But you can prepare for some risks with commercial insurance. Here in Houston, TX, there are a few critical commercial insurance policies every business should have.
Commercial Property Insurance
Property insurance is a must. This policy protects your business’s physical property from damage or destruction. It can cover your business’s building and any equipment or inventory inside.
If your business is in an area prone to hurricanes or flooding, ensure your property insurance policy includes coverage for those types of disasters.
Commercial Auto Coverage
Similar to insurance for a personal vehicle, commercial auto insurance covers vehicles used for business purposes. This includes company cars, trucks, vans, and other vehicles.
You need commercial auto insurance if your business uses vehicles to transport goods or customers. This policy can cover repairs or replacement if your car is damaged in an accident. It can also provide liability coverage if your business is sued over an accident.
Liability insurance protects your business from claims of bodily injury or property damage caused by your business operations. If a customer slips and falls in your store, or if one of your products damages someone’s property, liability insurance can help cover the costs of any legal claims.
Product liability insurance is a type of liability insurance that explicitly covers claims arising from defective products. If you manufacture or sell products, this is essential coverage to have. Speak with an Insurance Over Texas representative to see how much coverage you need.
Workers’ Compensation Insurance
If you have employees, you are required by law to carry workers’ compensation insurance. This policy covers medical expenses and lost wages for injured employees who become ill because of their job.
Not all commercial insurance policies are required by law. But they can still be important for protecting your business. Talk to your insurance agent at Insurance Over Texas about the right coverage for your Houston, TX business.
Operating a thriving business in Houston, TX occasionally manifests itself with inherent risks. Sometimes it is challenging to operate a small business due to prevailing imminent perils. However, magnificent commercial insurance from Insurance Over Texas will simplify the running of your business and protect against losses emanating from things like damage to property or injury to employees. Commercial insurance is tailored to assist businesses to remain shielded against prevailing catastrophes that may disrupt their success.
Is commercial insurance mandatory in Texas?
Just like many states, commercial insurance is not legally required in Texas. Additionally, Texas doesn’t require a business to carry workers’ comp insurance. However, as a business owner, it’s paramount to consider workers’ comp insurance for the wellbeing of your business and employees. It caters to expenses related to employees who suffer injuries or get sick on their working premises. Acquiring, salient commercial insurance in Houston TX, your business accrues the following benefits, becoming a massive investment asset:
Protection of workers: If your workers suffer injuries or become sick while working on your business entity, workers’ comp can cushion them. This coverage assists in catering to your worker’s medical attention if they suffer a work-related injury or ailment. It also reimburses their lost wages and extends the deceased employee’s family with financial benefits.
Protection of assets: As a business owner, you are tasked to maintain your business operational. It’s pivotal to safeguard your business against calamities like vandalism and fire. Property insurance guards your inventory and office content no matter what transpires.
Liability protection: In today’s world, we live in a litigious society. General liability coverage covers various instances, including a client’s injuries while on your business property. It entails slander and copyright infringement lawsuits and other potentially devastating issues.
With outstanding commercial insurance, business owners can undoubtedly enjoy peace of mind and operate a productive and successful business for years to come. Feel free to call or visit us at Insurance Over Texas offices in Houston, TX to get detailed information about commercial insurance.
Every business no matter how big or how small has vulnerabilities. All companies are in business to make money and many things can stop the flow of cash to your business. Commercial insurance is designed to help lessen the impact of anything that happens and help you to stay viable no matter what. Having a trusted insurance agent like Insurance Over Texas in Houston, TX can guarantee you have the protection you need when you need it. As independent agents, they can offer the finest carrier in the business.
Structuring a policy that fits your business is important. Not every business needs every type of commercial insurance. Some types however can benefit most business and they are as follows.
General liability insurance
Liability is an important coverage. No one is exempt when it comes to being sued. Legal actions are expensive and even if there isn’t a judgment against you it can be very costly for the representation you require. Without coverage, you could be forced out of business.
The state of Texas does not require workers’ compensation insurance. But, not having it opens a business up to legal action which can be much more damaging to your business’s bottom line than having the coverage. It also helps retain employees when they know they have this protection.
Property insurance protects the building that houses your business if you own it. Even if you rent, you need property insurance to protect your raw material, your office equipment, inventory, and machinery to operate your business. Your business can’t operate without these things.
If you are ready to get commercial insurance or want your current policy reviewed at Insurance Over Texas in Houston, TX we are here for you. You can reach us on the phone or at our office and we are happy to give a no-obligation quote.
When the lights shut off and you lock up for the night, is your business safe? Are there ways someone could break in and burglarize the property, making off with your inventory, cash, or other valuable items? Preventing your business from being burglarized in Houston, TX should be a top priority as a business owner. That’s why Insurance Over Texas has put together these three short tips to help keep your business safe. Read on to learn more.
1. Install Alarms and Cameras
Security systems detect motion in and around your business. If they sense motion, they will immediately contact police who will be on the scene quickly. Alarms also protect your business from fire. Tip: Keep your documents locked up in a fire-proof safe. Cameras work as a good deterrent for thieves. But the boldest ones may still go for it. With cameras, the police will be better able to catch any would-be thieves.
2. Keep Track of Keys
Business keys should never be duplicated without permission and should never go lost. This includes keys to all doors, vehicles, and safes. To keep track of your keys, it’s important to have an effective system in place where all employees need to sign keys in and out. If a key were to go missing, the key log will determine who lost the key and when.
3. Always Do Background Checks on Potential Employees
Before you hire someone and trust them to be part of your business, conduct a background check to make sure they really are the person they claim to be. Many business crimes are done from the inside. This can be prevented by researching employee backgrounds.
To learn more about protecting your business in Houston, TX, including finding the right commercial insurance, contact Insurance Over Texas today. Our friendly agents will answer all your questions and concerns and find you the right policy for your needs.
As a Houston, TX business owner, one of the most damaging and costly mistakes is not protecting your business and assets with the right kind and amount of commercial insurance coverage. Thinking that you understand the ins and outs of business insurance, you may decide not to work with an experienced Insurance Over Texas agent and won’t be getting a correct picture of your business risks and needs, and fail to purchase adequate coverage. Unfortunately, making the following mistakes can not only cost you more money, but you could also end up losing your business.
Buying Inadequate Coverage
Many businesses don’t actually purchase enough insurance to cover their potential losses. Purchasing inadequate commercial insurance coverage is only slightly better than no a policy at all. Many business owners realize their mistake when it’s too late and are forced to pay for attorney fees and legal settlements out of pocket.
Carrying Low Deductibles
Carrying a low deductible on your commercial insurance policy may seem like a better decision because it offers more protection, but it may not actually be the best decision for your business. You can lower your costs while still protecting yourself by increasing the deductible on your insurance policies. A high deductible reduces your overall operating costs while still providing protection from the types of losses that could put your business at risk.
Not Buying Business Income Coverage
Commercial business income coverage, also known as business interruption insurance, will provide financial support in the event that something occurs that interrupts your ability to conduct business and make money. Going without business income coverage can endanger your company just as much as going without property or liability coverage. For example, if your business experiences a fire that damages or destroys all your merchandise, forcing you to close your doors for weeks, your business owner’s property insurance will cover the lost merchandise, but if you don’t have business income coverage, you’ll have no way to recover your lost income during the time you are shuttered.
The best way to ensure you have the coverage and protection you need for your Houston, TX business is to work with a qualified insurance professional at Insurance Over Texas. We can assess your specific needs and then help you find the best insurance package to meet them. Contact our offices for a quote.