Starting your own business is a big step to make for many entrepreneurs, but with that big dream comes big responsibilities.
One of these major responsibilities is purchasing insurance. With all the different types of coverage out there, what does your small business need? Read on for helpful tips on choosing insurance coverage for your small business.
Property Insurance
One of the first things you should make sure is covered is your business property. Purchasing property insurance offers coverage in the case that your business property is damaged, stolen, or lost. Property insurance coverage can also cover personal property such as inventory, office furnishings, machinery, and other business operation items.
Business Auto Coverage
Business auto insurance policies offer coverage for vehicles that are owned and used by a business. This insurance helps businesses cover costs resulting from an accident if an employee using the business vehicle is found at fault.
Liability Insurance
General liability insurance is a broad commercial insurance policy. This type of coverage helps protect your business against property damage claims, bodily injury claims, or personal and advertising injury claims.
Workers Compensation
Texas is one of the few states that does not require employers to have workers compensation. However, not having workers compensation leaves your business open to personal injury lawsuits for employees injured on the job. Workers compensation pays a portion of lost wages, covers medical care, and in the event of a fatality, offers compensation to the deceased worker’s family.
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.
