essential commercial coverages for your business

Insurance Policies Your Small Business Cannot Overlook

Protect your small business with these must-have commercial coverages.

Part of your responsibilities as a small business owner is keeping your company safe. While implementing strict safety protocols and the most comprehensive safety training programs are great precautions to take, they aren’t always enough to protect your business from all the risks that it faces. The best way to safeguard your company is with the right business insurance in Plano, Texas. However, with all the coverage options out there, it can be difficult to determine which policies are right for you. To help, here are some of the most essential coverages that all businesses should carry.

Commercial General Liability

This type of coverage will offer financial protection in the event that your company is held liable for a third-party’s injuries, property damage, or other losses. General liability insurance will cover the costs of their medical treatment or repairs along with your legal fees if the affected party decides to sue.

Commercial Property

This type of insurance will cover your company’s physical building along with the equipment, supplies, inventory, and other property housed inside of it. Commercial property protects against the damages caused by extreme weather events, fire, theft, vandalism, and so on. Keep in mind that you will need specialty insurance to protect against the damages caused by earthquakes, floods, and other specific weather events.

Workers Compensation

Workers compensation insurance is one of the few commercial coverages that is actually state mandated. Almost every state requires businesses to carry some minimum level of this type of insurance. Not only will workers comp ensure that injured employees receive the medical care and financial aid that they require, but it can also help you cover your company’s legal expenses in the event that the injured employee decides to sue.

These are some of the essential commercial insurance policies that your small business should have in place.  Looking for assistance with your business insurance in Plano, Texas?  Then don’t hesitate to contact the experts at Tri-Star Insurance/HUB International.  We are ready to get you covered today.