Commercial Insurance

The Facts about Texas Commercial Insurance

Commercial insurance is necessary whether your business is in New York, Flower Mound, Lewisville, Grapevine, Coppell, Irving, or anywhere else in Texas. You have worked too hard to make your business successful to risk a catastrophic loss due to natural causes, accident or employee negligence.

There are five basic components to commercial protection packages. You should compare quotes carefully because of the disparity of premium costs. Ask for quotes for identical commercial coverage to be sure you are comparing apples-to-apples.

Texas Commercial Auto Insurance

Insure any vehicles owned by your company, including vans, pickups or box trucks, used to transact company business. An employee using a private auto for company business may also need coverage to protect your company.

Texas Commercial General Liability (CGL)

This coverage protects your company located in Flower Mound, Lewisville, Grapevine, Coppell, Irving or other part of Texas against injuries suffered by visitors to your location(s). You can also protect against lawsuits for defamation of another's reputation through libel (written) or slander (vocal).

Commercial Property Coverage

You need hazard insurance that covers your real property, furniture, fixtures, machinery, equipment, and inventory against natural (e.g., fire) or other accidental loss. Be sure to include protection against natural disasters, often called "acts of God." Losses from lightning, tornado, wind driven rain, or other natural calamities are sometimes excluded from coverage.

Texas Workers Compensation Insurance

Should an employee suffer injury or illness on the job, an auto accident, or other work-related physical problem, preventing he/she from working, this coverage offers cash for medical payments and living necessities. Unlike CGL, this cost varies with your industry. Should you employ mostly office workers, your premium is reasonable. Insuring oil drilling staff will be more expensive, because of the risk of injury.

Business Owner Packages (BOP)

BOP coverage combines two or more business policies (e.g., CGL and property insurance) to offer cost savings and coordinated protection. Bundling coverage in a BOP can save 10 to 20 percent of the cost of multiple policies.