Should you get commercial insurance if you rent co-working space?

Co-working has taken off in the past five years for a number of reasons. Not only does the concept allow for better collaboration among fellow entrepreneurs, but co-working spaces also present a more cost-effective means of professional office spaces. Should you get commercial insurance if you rent a co-working space in Plano, TX, though? The agents at Paragon Independent Insurance Agency can help you determine if such an indemnity policy is right for your company.

What a co-working contract includes

When you subscribe to co-working, you agree to pay a set amount every month to use the provided facilities. Most co-working space owners also include general liability coverage that pays for injuries to members as well as their clients. 

What the contract leaves out

A co-working contract does not include intellectual property. You may also find yourself out of luck in the instance of theft as many co-working spaces in Plano, TX do not assume responsibility for items lost or stolen on the premises. You essentially leave your equipment at the space at your risk when you do not have your own commercial insurance plan. 

Why you should invest in a commercial insurance policy

You can craft your commercial indemnity plan to pay for lost or damaged equipment at a co-working space. You can also use the policy to protect you in the instance that you are sued for giving advice to a client that ultimately leads to financial loss. 

Let Paragon Independent Insurance Agency help

Using co-working space may be an effective way to save on the rent and other monthly expenses associated with running a business. The option is not, however, a way for you to avoid commercial insurance altogether. 

Paragon Independent Insurance Agency can help you find an indemnity policy for your unique business. Call them today to get started with a quote for coverage

Who needs auto insurance in Plano?

The Plano, TX area is a great place for anyone to work and live. If you are going to live in this area of Texas, you will undoubtedly need to have a car as it will make it a lot easier for you to get around. When you are looking for a car, you should also consider your insurance needs. There are many situations when you will need to have auto insurance in Plano.

When Taking out a Loan

One situation when you will need to have auto insurance is when you are going to take out a loan. Those that are purchasing a car may need to finance the purchase with a loan. No matter who provides the loan, there are bound to be insurance requirements. Most of the time, you will need to have a full collision and comprehensive policy as it will provide great protection for you and the lender’s collateral.

When Driving on a Public Road

You are also going to need to have auto insurance whenever you want to drive on a public road. Anyone in Texas will need to meet the minimum liability auto insurance levels in order to drive legally. This will help to ensure that you are able to pay for damages caused in an accident and it ultimately protects all drivers on the road. If you do not have this auto insurance coverage, you could be penalized.

There are many situations when someone will need to have auto insurance in the Plano, TX area. If you are shopping for auto insurance here, you should call the Paragon Independent Insurance Agency. The team at the Paragon Independent Insurance Agency can help you understand your needs and options. This will make it much easier for you to choose a policy.