Do I Need a Full Auto Insurance Policy?

When you drive a car in the Plano, TX area, you will find that you will need to carry auto insurance coverage on your vehicle at all times. However, the state generally only requires that you carry liability coverage on your vehicle. While Plano TX car owners will only be required by law to carry liability coverage, many would still benefit greatly from carrying a full policy that includes both collision and comprehensive coverage. In fact, there are several situations in which you will need to have a full auto insurance policy in place.

When You Have an Expensive Car

One situation in which you will want to have an auto insurance policy that provides full coverage is when you have an expensive car. Buying a car is always a very big purchase that needs to be properly insured. If you have a car that was expensive and difficult to replace in cash, you need to make sure that you have coverage necessary to do so. 

Auto Loan

Most drivers today obtain financing when they buy a new or used car. If you do have a loan on your car, you will be required under the loan documents to properly insure the vehicle. This will assure the lender that they can be paid off if the car is stolen or damaged.

When you are evaluating your auto insurance needs, you should reach out to the Paragon Independent Insurance Agency. When you meet with the Paragon Independent Insurance Agency, you will receive far more insight into what type of insurance options are out there, which ones might be right for you, and what your requirements are. For those that are in the Plano, TX area, this can be very helpful when it comes time to pick your next policy. 

What Kind of Commercial Insurance Do You Need for an Online Business?

Online businesses in Plano, TX still need commercial insurance, but these types of businesses operate differently than others. This is why the needs are a bit different for online businesses. An agent at Paragon Independent Insurance Agency can help you determine your insurance needs.

Every business should have general liability insurance, which will protect them from a number of different damages and defenses. However, this won’t cover everything.

The type of insurance that you need will be dependent on what your online business does. If you sell products, you need liability insurance in case someone gets injured while using your product. This can cover someone that has an allergic reaction to the material used, or if someone chokes on a toy.

For eCommerce businesses that sell physical products and have fulfillment warehouses, consider transit or inland marine insurance. This will help protect inventory when it is shipped in large batches. Not every business needs this, it just depends on how you operate with your product.

Your online business may be run at home and you will need a policy that protects the equipment needed to operate your business. You will need to be protected for what is not covered under your homeowner’s insurance.

If your online business doesn’t sell any products and instead if based off of services you provide, consider professional liability insurance or errors and omissions insurance, which will provide defense and damages if you fail to provide those services. General liability will not provide this type of coverage.

For a business that stores any sensitive information on client’s, data breach insurance will provide protection against this type of loss. This is useful for online businesses that likely have credit card information stored from purchases.

Even online businesses will still need workers compensation insurance if they have employees. This will cover wage replacement and medical benefits if employees are injured on the job. Even if they aren’t likely to be injured on the job, it can provide a lot of protection.

Contact Paragon Independent Insurance Agency serving Plano, TX to get a quote on commercial insurance.