In the Plano, TX area there will continue to be a lot of opportunities for success for small businesses. While there is a lot of potential here, businesses in this area of Texas do still have certain business risks. If you are going to start a company here, you can mitigate these risks with insurance. There are several scenarios when your business should obtain commercial insurance. 

Those With Insurance Requirements

One situation when a business owner here will need to get commercial insurance is when they have insurance requirements. There are a lot of situations when having commercial insurance will be required. If you have taken out a business loan, lease a building, or have raised capital from investors, you likely will have commercial insurance requirements. All of these stakeholders will require you to get coverage due to the protection it provides. 

Those Looking to Build Credibility

No matter what industry you operate in, there will always be the competition that you need to beat out to win new business. When a new customer is evaluating a potential vendor, they will want to ensure that the company is properly insured. If you have a quality commercial insurance policy in place, it can make your organization appear more credible, will reduce the risk for the customer, and could help you win more business.

Anyone that is looking for a commercial insurance policy in the Plano, TX area will have a lot of important decisions to make When you are looking for a new policy here, you should call the Paragon Independent Insurance Agency. It is always very challenging to know what coverage you should get for your company. The Paragon Independent Insurance Agency will be able to evaluate your organization and determine the best way to insure your company against certain risks. 

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

In the heart of Plano, TX is Paragon Independent Insurance Agency whose aim is to provide quality commercial insurance services to all its members. We give our members confidence in business prosperity, by proving competent protection through our insurance company. Under commercial insurance, we cover the areas sampled below:

Property Damage Cover.

We value our members’ business property at Paragon Independent Insurance Agency. Under property damage’ we cover your business in various critical situations such as:

• Theft.
• Accidents in business premises such as a fire outbreak and collapsing of your business building.

If you have not yet purchased the insurance cover, we are confident in providing business protection for you at our insurance company in Plano, TX.

Umbrella Insurance.

In every situation in your business life, it’s wise for you to have a backup plan in all your investments. Umbrella insurance is a service that we offer our members away from their commercial insurance. Umbrella insurance is meant to back your business up.in a case where the level of damage exceeds the policy you have purchased, umbrella insurance covers the extra cost.

Umbrella insurance under commercial insurance in Plano, TX gives you the certainty that you may not incur losses in your business life. A business life with no or few losses is a successful business.

 Overall business liability cover.

As a business person, you should always consider your customers’ and employees’ safety and insurance cover. On purchasing the commercial insurance in Plano, TX, it’s important to purchase the general liability cover. This is meant to cover your employees and customers in many ways such as:

• Body injuries in the business premises.
• Accidents during working hours.

As soon as you purchase this policy in Paragon Independent Insurance Agency, you psyche your employees and they find it very easy to work in the business hence your business grows. For more information and queries please call us at (972) 867-9797.

If you own a business in the Lone Star State of Texas, you will want to obtain commercial business insurance. One of the requirements in Texas is for owners of private or public businesses to obtain a workers’ compensation insurance policy. This will cover all of your employees in the event they are injured on the job or become ill because of doing their job.

You must have a commercial auto insurance policy in place to cover all vehicles used for your business and owned by your business. You must have the minimum amount of liability auto insurance under Texas law which is $25, 000 per person, $50,000 per accident, and $15,000 for property damage caused by an accident involving one of your business’ vehicles.

You will also want to have general liability insurance in place which will protect you and your business if someone claims they were injured while visiting your business or due to a product or produce or sell. This policy will cover the injured person’s medical bills associated with the mishap and damage to their property. It can also cover a dissatisfied customer who files a lawsuit.

You will also want to include in your commercial insurance policy insurance for fire, theft, vandalism, and damages to your business from a natural disaster, such as a tornado or hurricane. Your livelihood depends on your business being able to function and if there is business disruption, you will need insurance in place to cover those losses.

To create the best commercial business insurance for you and your business, contact the experienced and trusted insurance agents at the Paragon Independent Insurance Agency in Plano, TX.