Business owners should carefully consider the range of vital protections available in a Commercial Insurance. Also called Business Insurance it can be sold in a variety of ways, for example it may be package as a Commercial Policy Package or a Business Owner’s Policy or through individual coverages purchased separately. The coverages listed below describe the protections available to your business, for example Business Auto , Commercial Property Insurance and Workman’s Compensation.
Commercial Auto
When you use a vehicle for your business you need commercial auto, sometimes referred to as business auto. There are limitation in a personal auto policy that will not cover you or your employees should an accident occur, for example coverage for trailers and cargo.
Commercial General Liability Insurance (CGL)
An CGL policy is needed to protect your business from liability. This coverage includes coverage for bodily injury, property damage, personal injury, and advertising injury.
Commercial Property Insurance
Your commercial property policy protects your business’ physical location. You will find covered items, such as fire, theft, and natural disasters that pertain to the business property. A standard commercial property policy covers the building, its contents and nearby items that are outside. For example office furniture, product inventory and machinery.
Workers Compensation
Your Workers compensation–sometimes called workman’s comp–insurance protects you and your workers. When an employee suffers an injury or a work-related illness, your workman’s comp insurance will cover medical costs and lost income.
Business Owner Package (BOP)
The BOP packages many of the coverages needed by small business owners. For eligible businesses, often you can find greater value in selecting the BOP over a larger commercial package policy.
By using an independent agency like Legacy Insurance you can shop multiple top-tiered carriers with one call. This saves you time and money! For anditional information regarding commercial insurance you can refer to the Commercial Property Insurance Guide found on the Texas Department of Insurance website.