The Facts About Commercial Insurance
You have worked too hard to establish your company for a frivolous lawsuit to take it all away. Such may be the case, however, if you do business in Texas without proper insurance coverage. Read on to learn more about commercial insurance. Contact the agents at Robert Fox Insurance Agency LLC today for a quote!
What is commercial insurance?
Commercial insurance is an indemnity policy that pays for damages and losses to your company. There of various types of commercial assurance. The type of plan your business may need depends on several factors.
First, you should consider the product that you are offering to residents in Texas. Companies that sell goods may want to consider adding coverage that guards them against lawsuits should a customer use a product and experience an allergic reaction. You may also want to consider such an assurance plan if you own a law firm or other type of company that renders expert advise. You want to ensure that you are protected in the event of seemingly good advice costing the clients hundreds of dollars or worse.
Is it required?
Commercial insurance is not necessarily required. You must acquire workers’ compensation assurance if you have an employee. Commercial auto insurance is necessary if your business operates by way of a fleet of cars and trucks.
Others than workers’ compensation and auto assurance, the other types of commercial insurance are not a necessity. You can technically operate a company in the state of Texas without property insurance and business interruption insurance to cover losses during power outages. The better question is, however, would you want to live on the edge by doing life as an uninsured entrepreneur? Probably not.
How much commercial insurance do you need?
The type and amount of commercial insurance you need depends on the type of business that you operate. You may want to acquire a policy with more liability if your company hosts customers on a daily basis. It may also be a good idea to purchase more assurance if you have assets that could be lost in the instance of a lawsuit.
Call Robert Fox Insurance Agency LLC
The agents at Robert Fox Insurance Agency LLC offer the following commercial insurance options:
- Professional Liability Insurance
- Property Insurance
- Workers’ Compensation Insurance
- Product Liability Insurance
- Business Interruption Insurance
- So much more!
Call them today to get started with a quote!