A commercial insurance plan is generally going to cover your Plano, TX business on three fronts: Property, liability and workers’ compensation.

Liability is the big one. A business, even a small business, is at special risk for litigation resulting from injuries and damages sustained on the business’s property, or sustained in relation to a business’s product or service. The cost of a lawsuit can sink a thriving business, so liability is going to be the backbone of your insurance plan.

Property insurance works like your homeowners policy: If your property suffers damage resulting from natural disaster, break-in, vandalism and etcetera, property insurance will cover it. Like your homeowners policy, it might not cover flooding, so you’ll want to read your plan over thoroughly to make sure that you know what is and isn’t covered on your basic property policy.

Workers’ compensation will keep your employees covered in the event of injury or circumstance leaving them unable to show up for work. It is not a legal requirement in Plano, TX, but can be a tie-breaker between two employers if you’re trying to recruit the best people for your company. Property and liability provide you with peace of mind, workers’ compensation provides your employees with peace of mind.

Anything you don’t see covered above, a basic commercial plan probably isn’t going to cover. This should be enough for most companies, but different industries have different insurance needs, so you may want to consider buying additional insurance to supplement your commercial plan and ensure complete coverage.

If you’re still shopping around for a great plan, or you want to see if someone can outdo your current provider, get in touch with Paragon Independent Insurance Agency and let’s see what we can do for you.

As a small business owner in Plano, TX, you have many things to worry about. One of them doesn’t need to be whether or not your small business needs commercial insurance. As a small business owner, you may feel that you are alone with your concerns but in 2012,  98.2% of businesses in Texas were classified as small businesses by the Small Business administration, so you have lots of company. With the knowledgeable staff at Paragon Independent Insurance Agency waiting to help you, any questions you have can be quickly and easily answered.  

Before you know if you need commercial insurance you need to know a few of the things that it can protect you from. 

Worker’s Compensation

Texas law does not require business owners to carry worker’s compensation insurance however, many employers find that it makes finding and retaining employees easier if they know they are protected.  

Employment practices liability insurance

When you have employees there is the possibility that you end up being sued by a former employee for harassment or wrongful termination. Having insurance that can pay for legal expenses or any judgment against you can be a lifesaver. 

General liability

Things happen and if someone is hurt on your premises or by one of your products, this coverage provides liability protection. 

Building coverage

 In the event that your building location is damaged this coverage will help you to get the damage repaired. 

Business interruption

If the unthinkable happens and your business is so damaged that you can’t operate for a time, this coverage will get you through with income for yourself so that the bills can get paid. 

If any of this sounds good to you as a small business owner in Plano, TX, Paragon Independent Insurance Agency has the experience to help you make an informed decision.  Visit our website, give us a call or stop by for a no-obligation quote. 

Small businesses like yours are what enhance the community. You increase revenue to the neighborhood, create employment, and offer new opportunities. You struggle to keep your business on solid ground. Make sure that you have the right kind of insurance to protect your growing businesses.

Auto Insurance

If you have the type of business that has a few cars or a fleet of trucks, you’re going to need to have commercial auto insurance. Commercial auto insurance can protect you against reckless drivers who damage your vehicles or merchandise. As you begin to grow your business, you’ll want to increase your coverage limits.

Liability Insurance

There are three types of liability insurance for certain businesses.

• General liability insurance can protect you against costs as a result of an accident. If someone is injured in your store, you may have to pay medical expenses and defend yourself in court. You could pay legal fees and settlement costs. With liability, this cost will be less with the right coverage.

• Product liability is mainly for businesses who manufacture, distribute, or sell products. Liability protects you if a product you sell is defective and causes purchaser harm.

• Professional liability is for professions that require you to provide service individuals or other businesses, such as a doctor or masseur.

Commercial Property Insurance

Similar to home insurance, commercial property insurance protects your property from vandalism, fires, hailstorms, windstorms, and other disasters listed in your policy. Having this policy can help you rebuild faster. If you did not have enough coverage and a disaster strikes, you may not be able to restore your business.

Go to the Paragon Independent Insurance Agency in Plano, TX to discuss a commercial insurance policy that is right for your growing business.

There are benefits to having a home business, but it can get complicated when it comes to getting insurance for the business you run out of your home. The Paragon Independent Insurance Agency of Plano, TX can help you sort through the issues and find a policy that will work for your situation. The type of business would be very important as far as liability and other issues. A writing business with almost no overhead would need very little insurance. A small winery on the other hand, with a few employees, could get complicated fast.

There are three major ways you can ensure your business in your home. You can get increased business property limits with your regular homeowners’ policy. This is good for small operations where you do not have customers in your home and if you do not have a lot of stock or property.

An in-home business insurance policy is a middle ground of sorts, that increases coverage for more property or stock that may be stored in your home. This is good for when you have a few customers in your homes, such as a hair salon or tax preparation.

For even larger operations there is a separate business insurance policy for homeowners. This would increase your liability coverage, and keep in mind that some homeowner policies do not cover liability for business use. This option is good if the business supports the household.

Visit the Paragon Independent Insurance Agency in Plano, TX today to find out more about insurance for your home-based business. Every case is different, and we can find a policy that will best fit your individual needs. You would need to have homeowners insurance to make an addition to the policy for business coverage. You can get them at the same time.