Types of Business Insurance

Types of Business Insurance

An entrepreneur can be quiet realizing that his or her business resources are securely ensured by a quality protection strategy. Beside ascertaining costs, benefit, and extreme dangers, securing exhaustive business protection can be a reinforcement or wellbeing net to an organization’s future. There are a lot of insurance options you can choose for your endeavor. However, here at the Troy Dunn Insurance Group, we make sure that all our clients, especially blossoming entrepreneurs, get the best insurance packages that they need. This is why we advise people to check first if their business needs this kind of insurance or not. Below are plans that you might need now or in the future.

  • Property Insurance — This insurance covers the business property after it was damaged by unforeseeable instances such as natural hazards, burglary, or fire. Depending on the plan that you will decide, this can potentially cover the business establishment’s assets such as office equipment, furniture, and even transitory assets like raw materials and inventory.
  • Commercial General Liability Insurance — There are rare cases when your business gets sued for a claim. If that happens, the commercial general liability insurance covers the attorney fees incurred when you are up against a lawsuit. Though this may be rare to happen, but this type of insurance is recommended for currently growing businesses, which have a potential to trigger a lot of competition.
  • Professional Liability Insurance — In case you or your employee makes a mistake, which will directly cause your business and/or clients’ financial or physical distress, this will surely help. For instance, a doctor’s malpractice is covered with this. This is highly recommended for businesses with specialist employees like doctors, architects, and accountants who can potentially cost someone else’s money.
  • Commercial Car Insurance — A person who uses commercial vehicles in operating a small business using is recommended to apply for this insurance. This is similar to personal car insurance, but just a business version. It comes in handy when a registered business vehicle gets into an accident, whether because of an employee or an outside party.

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  • Workers’ Compensation Insurance — In Texas, a small business owner is required to have workers’ compensation insurance which is of course based on the number of workforce currently employed. This insurance will cover your business and employees in case there will accidents during working hours or in the job. It will cover medical expenses for employees affected by workplace accidents.

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