Business Insurance In North Texas
Finding the Right Policy Just Got Easier!
Your Texas business might not be a multimillion dollar corporation with branch offices all over the United States or the world. However, your business still faces many of the same risk factors as big businesses and getting the right kind of Business Insurance is extremely important. If not, just one major claim that your policy doesn't cover could mean financial disaster for you and your family. Here is an example.
Len S worked for more than 20 years in the air conditioning and HVAC business. In fact, just a few years ago he decided to go into business for himself installing and repairing residential and commercial HVAC units. It took some time to build up a list of customers and a business portfolio but within two years, Len had all the business he could handle and 6 men working for him.
Len was a great HVAC technician and electrician but he was not experienced in business risk management. This is why he went to an insurance professional for his Commercial Insurance needs. Together, Len and his independent agent went over all his potential risks and talked about the best ways to cover them. The agent was able to provide Len with coverage customized to his line of business and once a year, they reviewed his covered to see if he needed to upgrade or make changes.
Last year, Len was the successful bidder on an apartment construction project. They needed HVAC units installed in 30 apartments and Len's crew did an excellent job. However, a couple of months later, a major problem developed. One of the units caught on fire and it spread to the entire building. An investigation proved that one HVAC unit was not properly wired and this is what caused the fire. This resulted in a large claim against Len's company.
Len contacted his insurance agent and he helped him with the claims process. Because Len had sufficient professional liability insurance for his business, he had no problems as the policy paid for the damages. However, if not for the foresight of his insurance agent, Len might have been facing a major lawsuit that could have been devastating to his company.
What Is Business Insurance?
When you run a local business you need to protect both your financial and legal interests and insurance is the best way to do this. It will cover many issues that you thought could not possibly happen but they do. This can give you financial security as well as peace of mind.
Who Needs Commercial Insurance?
Not all business owners may need special insurance. For example, if you work from your home and do not have large assets or employees, you have few risks to consider. However, these businesses both large and small should have sufficient insurance:
- Retails stores and shops
- Building contractors
- Welding contractors
- Product distribution services
- Roofing services
- Home improvement companies
- HVAC contractors
- Delivery services
- Food and beverage services
- Transportation services
Standard Insurance For Your Texas Business
There are many factors to consider when it comes to insurance for business. For example, do you rent or own your property? How many employees do you have? What type of business do you operate? Most businesses will need these common coverage options:
- General liability
- Commercial property insurance
- Commercial vehicle insurance
- Workman compensation for employees
Some companies offer special insurance packages which can include all of the above options
Specialized Business Insurance
You may need more specialized insurance options depending on what your business does. To find what you need, please fill out the Free Quote Request Form above or check the options below: