Biggest Risks Business Owners Face

Business owners know there are risks associated with operating a Plano, TX business. Because there are risks, it is essential to have proper insurance coverage to protect yourself against any risks your business faces, including losing the business. Continue reading to learn more about the different risks business owners face, and then reach out to Paragon Independent Insurance Agency agents for more information about protecting your business. 

Business Interruption

Some businesses suffer the loss of profits due to having to stop business operations. There are several reasons why a company may need to cease operations, including severe storms and federal emergencies/mandates.

Business Liability Insurance

There is always a possibility of someone getting injured at your business. The chance of injury to a customer puts your business at risk of being sued for medical bills and other damages. 

Commercial Property Insurance

Regardless if you own the building or rent for your business, you can significantly benefit from having commercial property insurance. The benefit of this is everything you need to run your business is at risk of getting damaged or stolen. 

Data Breaches

With advancements in technology, almost all businesses today rely on computer networks to store and retrieve business-related data. As a result, cybersecurity crimes are on the rise, and all companies working online risk data breaches. 

Worker’s Injuries

There is a risk that one of your employees will get injured at work. Workers’ compensation protects business owners by covering the employee’s lost wages, medical bills, and other financial needs while recovering from the injury. 

Plano, TX business owners understand there are risks when going into business. To ensure you and your business are fully protected, call the Paragon Independent Insurance Agency experts today for additional information.