Protect Your Assets with Commercial Insurance in Plano, TX

Do you own a business in Plano, TX? If so, good for you. This is a great place to be a small business owner. However, have you taken the necessary steps to ensure your business is protected? The fact is, there are many issues and tragedies that could occur, which is why having commercial insurance is so important.

Do you own a business, but have yet to purchase this coverage? If so, now is the time to consider it. You can utilize the services at Paragon Independent Insurance Agency, and the tips here, to get the protection you need for a price you can afford.

1. What to Consider When Buying Commercial Insurance?

When you are ready to purchase commercial insurance, you need to figure out what you need and how much you need. There are many different types of commercial insurance to purchase. For example, general liability insurance and workman’s compensation insurance are two types that all business owners need. However, if your workers use a fleet of company vehicles, for instance, you may also need to purchase a commercial auto insurance policy. Be sure to review all of your assets to determine the type of commercial coverage that you need.

2. Buy Smart

When it is time to purchase one or more commercial insurance policies, be sure to be smart about it. Compare prices and policies and work with a reputable agent. This will help ensure you get the coverage you need for a price you can afford.

If you are ready to purchase commercial insurance coverage in Plano, TX, reach out to the professionals at Paragon Independent Insurance Agency. They will help you determine the exact coverage you need and help you stick within your budget.

Keeping Your Dryer Vent Clean and Safe

Your dryer is an important appliance in your home, but it does need to be maintained properly in order to keep working efficiently and safely. Here are some tips on that from Paragon Independent Insurance Agency serving the Plano, TX area.

Cleaning the lint tray

Remove all lint from the dryer’s lint area every time you run the dryer, even if there is just a small amount of lint in there. It only takes a moment but makes a big difference. There will likely be more lint when you are washing certain items, such as new towels and blankets. Also make sure you clean around the dryer area, such as on the floor, because dust and lint can accumulate there and become a safety hazard.

Cleaning the dryer vent

Periodically do a more thorough cleaning of your dryer vent using specifically designed tools that can get further into the dryer vent. It will not take much time to do this and will be a worthwhile task.

Maintaining the dryer vent

Occasionally hire a professional who can perform a cleaning of your dryer vent. You will not have to do that very often, but it will be worth it as you make the effort to keep your dryer vent clean and safe. It is definitely an affordable investment in keeping your dryer running smoothly and safely.

Properly maintaining and cleaning the dryer vent provides numerous benefits, including improving home safety and helping an important appliance to function at its full potential. Write these tasks on your "to do" list or calendar, and make sure to do them as needed. If you need more tips about home safety or need assistance with home insurance, feel free to contact Paragon Independent Insurance Agency serving the Plano, TX area.

Why You Need Commercial Property Insurance

Commercial property insurance in Plano, TX will protect your company’s physical assets from fire, burst pipes, theft, vandalism, storms, and explosions. Typically, earthquakes and floods are not covered.

Commercial property insurance in Plano, TX does more than just protect your building, so it’s important insurance to have. Some of the things this insurance protects include computers, furniture and equipment, landscaping, important documents, inventory, exterior signs, and others’ property. Just think about how expensive it can be to have to replace all your business equipment and your inventory. This shows how important this insurance is for any business. In order to determine how much coverage you need, keep an inventory of your business assets and get enough coverage to protect them. Keeping this list of business assets will help you in the event you do need to file a claim.

Depending on your policy, there may also be covered for business assets when they are being used at off-premise locations. This can include an employee taking a company computer on a trip and the device is stolen. Speak with an agent at Paragon Independent Insurance Agency to determine if you have this type of coverage.

One of the other important aspects of a property policy is protection against loss of income or revenue for property loss. There are provisions that will provide net income and continued expenses during the period where you are rebuilding after a loss. For example, if your business has to shut down for two weeks while you rebuild because of a fire, your policy could reimburse you for some of the lost earnings for those weeks.

Even though commercial property insurance covers a lot of things, it does not cover any liability and you will still need liability coverage in addition to this policy.

Contact an agent Paragon Independent Insurance Agency to get a quote on commercial property insurance.

 

How to Be a Smart Business Owner

Owning your own business can be one of the most exciting things you ever do. Not only do you get to be your own boss, but you get to take advantage of doing something you have a passion for while making money from it. Take for example you are a chef and you open your own restaurant. Getting paid to cook is something that will bring a lot of delight to your life. As a business owner, though, it is imperative that you take certain steps to make sure you are doing everything you can to protect your company. For now, the Paragon Independent Insurance Agency serving Plano, TX would like to share two tips with you about being a smart business owner. 

Invest in Commercial Insurance

One of the smartest things you can do as a business owner is to invest in commercial insurance. This type of insurance provides various forms of coverages that will protect you from libel, slander, property damage, and more. The best way to customize your commercial insurance policy to best meet your needs is to speak with a qualified insurance agent who has experience in selling commercial insurance policies. 

Set a Budget and Stick to It

It will also help you to be a smart business owner by creating a budget and sticking to it. As part of the budget, you will want to devote a certain percentage of your profits to go to a savings account. This savings account can be used to dip into on an as-needed basis during the months that you don’t churn much of a profit and you need to purchase supplies or provide monies for labor and wages to your employees.

To learn more about the benefits of commercial insurance, contact the Paragon Independent Insurance Agency serving Plano, TX today.

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.

Types of Commercial Insurance That You Need

Owning your own small business is a very important responsibility that needs to be taken seriously.  One factor that needs to be carefully considered is what type of insurance coverage you should have in place.  For small business owners, there are a variety of types of commercial insurance coverage that you should have that will provide adequate protection. 

Workers Compensation

For business owners in the Plano, TX area, having workers compensation coverage is very important.  While the state of Texas does not necessarily require it, it still provides a business with very valuable protections.  Your workers compensation policy will provide coverage to you and your employees in the event someone is injured while at work.

Liability Coverage

Liability insurance is also very important for all small business owners to have.  If you have a product or service that you sell, you are taking on some responsibility every time you sell it and a consumer uses it.  To ensure you are fully protected, you should have a liability coverage policy in place that will provide you with coverage in the event you are sued. 

Property Coverage

If you operate a small business and have a building, whether it is a rental or if you own it, having property coverage is a necessity.  Property coverage will provide you with reimbursement for expenses that are incurred if the building or its contents are damaged or if there is an incident of theft or vandalism.  In many cases, you will also be required to carry this coverage under a lease or a loan agreement.

Before getting into any new commercial insurance policy, Plano, TX area business owners should contact Paragon Independent Insurance Agency.  Paragon Independent Insurance Agency is a leading insurance agency that can help you to better determine and understand you commercial insurance needs.

Is Your Business Protected Against Cyber Crimes?

As a small business owner, you may think you’re safe from online fraud due to being a “small fish” in the big world of business. Statistics show, however, that small businesses are just as susceptible to cyber crimes as major companies. By taking protective measures, you can safeguard your Plano, TX business against Internet crimes and protect your assets. Here are a few tips to help you get started.

Create Strong Internet Passwords

Strong Internet passwords can boost your online security, making it that much more difficult for hackers to get into your accounts. All your business accounts should have strong passwords to include online banking, email accounts, purchasing accounts, etc.

Tune in to Email Links

Tune in to links that may come with your business emails as they could contain viruses or open the door to cyber attacks. Never click on a link that you have doubts about. Verifying all email links before opening, even those from known associates or friends, could save your business from online attacks.  

Encrypt Sensitive Information

Encrypt all sensitive data to protect your business associates and customers from online fraud. This includes Social Security numbers, credit card numbers, health records and personal data. Encrypting sensitive information make it more difficult for hackers to gain unlawful access to customer accounts.

Protect your Business Infrastructure

Invest in the latest firewall, spyware and anti-virus detection programs to protect your data and networks against infiltration by hackers. By doing your part to protect your business infrastructure, you can help prevent online attacks.

Get Cyber Insurance Coverage

Cyber insurance from Paragon Independent Insurance Agency covers your company’s liability for data breaches that can put your customers at risk of cyber crimes. For more information about cyber insurance and the protection it has to offer, contact us at Paragon Independent Insurance Agency in Plano, TX.

Mudslides, Earthquakes, and Hurricanes, Really?

Climate change is creating all kinds of new problems for homeowners. Hurricanes that are supposed to happen rarely are now becoming frequent occurrences. Wind and heavy rain may do damage and cause dangerous mudslides. Earthquakes are happening with increased severity and in unusual patterns that have not been seen before. The expectation is that these natural disasters will continue to get worse in the future.

This is why it is a good idea to conduct an insurance review with your agent at Paragon Independent Insurance Agency serving Plano, TX to make sure these increased risks are covered by your insurance policies. It is always better to be prepared than to be caught off guard when an emergency happens. Some surprising things have been happening where homes that are not located in a flood zone are being damaged by flooding. Home insurance and flood insurance are different and many should consider having both of these policies.

If you do not already have home insurance for the replacement value of the home and its contents, it is a good idea to consider this. Also, be sure that the estimate of replacement value is accurate and up-to-date. If you have done any remodeling or made any additions to the home be sure to consider those and include the values for them in the replacement cost as well. Discuss with your agent about having special coverage for any items of great value such as antiques or artwork that are kept in the home.

Hopefully there will not be any troubles; however, if they do come up you want to rest assured that there is adequate insurance coverage to take care of the problems. Contact the good folks at Paragon Independent Insurance Agency serving Plano, TX and the surrounding areas to make sure you have adequate insurance coverage for all of your needs.

What Does Commercial Insurance Cover?

When you own a small business, there are many different factors that you will need to take into consideration. For businesses in the Plano, TX area, one factor that needs to be taken seriously as its insurance needs. For those that are looking for more Insurance, getting commercial insurance could be a great option as it provides a range of different coverages.

Liability

The first type of coverage that a commercial insurance policy will provide is liability insurance coverage. If your business produces and sells a product or service, you are taking on a certain level of liability every time it is used by a consumer. Because of this, it would be a good idea to purchase a liability policy under your commercial insurance to provide you with protection in the event you are sued and found Bible.

Workers Compensation

If you have employees that work for you, you will also probably be required to have a worker’s compensation policy. A workers compensation policy will provide you with protection in the event your employee is injured while they are at work. This is particularly important if your place of business provides a certain level of danger for those that work there.  

Property Insurance

If you own real estate in which your business is operated out of, your commercial insurance package should also provide you with property insurance coverage. This will provide you with coverage in the event your property is damaged or destroyed. It can also cover all of the equipment that sits underneath the roof of your property.

When looking for a new commercial insurance policy, Plano, TX businesses should contact the Paragon Independent Insurance Agency. The Paragon Independent Insurance Agency is skilled at helping businesses of all types and sizes to find a commercial insurance policy that is best for them.

Commercial Insurance for Retail Operations, Fast Food Restaurants, and Other Businesses

The type of commercial insurance coverage needed is different depending on the kind of property and its use. For example, commercial property that is used for a retail store needs a different type of insurance than commercial property used for a food establishment. There are also differences between insurance for apartment buildings and condominium complexes.

The agents at Paragon Independent Insurance Agency serving Plano, TX understand these special needs.

Commercial Property Coverage for Retail Operations

Retail operations are unique because they typically have lots of customer flow. There is a need for additional security efforts and insurance in the case of shoplifting in such stores. There is also a need to have insurance for slip and fall accidents, which are common in such environments.

Fast Food Service

In the fast food business, the insurance needs to protect the customer while physically at the premises and to protect the customer from contamination or illness contracted from the food being served. Many fast food retailers have been hit with major lawsuits based on the quality (or lack thereof) of the food being served. Insurance coverage for such key issues is important.

Insurance Assessment Mitigates Risk

Insurance risk includes what happens on site at the store. It also includes what happens before and after products come into the store. Product liability extends to when the products leave the store to be used by consumers. A comprehensive insurance coverage plan takes all of these factors into account and checks the insurance coverage that currently exists to look for areas where there are “gaps” in insurance coverage to fill those gaps.

Commercial Rental Property

Commercial insurance is important for rental properties. Owners buy it as a form of property insurance to protect their structures and property from damage while renting out their property.

What to do now?

Contact the good folks today at Paragon Independent Insurance Agency serving Plano, TX for a free evaluation of all commercial insurance needs. Insurance coverage delivered with a smile.