If you have a personal business, protecting your assets should be your number one priority.
One thing your business needs is commercial insurance. But what is commercial insurance cover, and how important is it to have?
Commercial Insurance Coverage
There are a few different types of commercial insurance coverage.
- Business Liability Insurance
Business liability insurance, or commercial general business liability, covers you and your business in the event of a third party suing you.
This policy can help cover the costs of legal fees, settlements or awards. There are several types of liability insurance policies such as Errors & Omissions insurance, Employment practices liability, Directors & officers liability insurance, & Business identity theft insurance.
- Workers’ Compensation Insurance
In Texas, workers’ compensation is not required. However, it is an extremely valuable thing to have in the case of one of your employees getting hurt on the job. Without workers’ compensation, you will be liable for any medical or monetary compensation.
- Property Insurance
Property insurance covers physical disasters like fire, theft, and floods to your property.
- Business Auto Insurance
If you have vehicles used for business purposes, then you should consider business auto insurance. Business auto insurance helps cover any costs you or an employee would be liable for in the case of an accident.
- Umbrella Policies
Umbrella policies are an excellent source of protection for businesses at risk for major losses or suits. This policy is most used for multi-million dollar businesses.
There are many different policies that could help protect your business. Be sure to speak with your insurance agent to see which policy is the most beneficial to you.
Payne Insurance Group
Payne Insurance Group provides insurance for auto, home, commercial, and much more! Payne Insurance Group has partnered with over 13 businesses across the Rio Grande Valley, As a result, we have created a one-stop-shop for all your automotive needs.
