No one likes to think about bad things happening; but they do happen. If youre a homeowner or you have a family, you probably have homeowners insurance and life insurance to cover you and your loved ones in case your house is damaged or in case you die. So why should it be any different for a business owner, especially a small business owner? If you are a small business owner, you must have business insurance inFrisco TX in case you suffer some kind of loss or you are sued or for any number of eventualities. In general, the 5 most important types of business insurance you may need are:
1. General Liability. No matter what type of business you have, even if its home-based, you must have general liability insurance. This type of business insurance in Frisco TXprovides for damages in the event that you, your employees or your products (or services) have caused injury or property damage to a third party.
2. Commercial Property Insurance. This insurance covers the building you do business in, provided you own it, and all of the equipment you use in your business in the event of theft, vandalism, fire, smoke damage, etc. Equipment can include but isnt limited to office furniture, computers, copiers, tools and inventory. As part of this type of insurance, you may also want to consider adding protection in case your business is unable to operate and you lose your earnings.
3. Commercial Automotive Insurance. As the name implies, this type of business insurance in Frisco TX covers work cars, SUVs, vans and trucks that carry employees, products or equipment in case of damage and collisions. If your employees drive their own vehicles, you can purchase non-owned auto liability to insure their vehicles in case your employees dont have adequate insurance.
4. Workers Compensation. Workers compensation insurance is for employees who are injured while on the job. It provides medical benefits and wage replacement for them in exchange for them giving up the right to sue you for the injury. This type of insurance is very important for a small business owner to have because it offers you and your company protection from complicated and expensive litigation. In addition, every state requires you to carry this coverage if you have W2 employees.
5. Business Owners Policy (BOP). A business owners policy is a package that includes all the types of insurance business owners typically need like property and vehicle insurance, liability insurance and business interruption insurance. The types of insurance that are included depend upon your particular businesss needs. BOP packages are usually less expensive than purchasing all the policies separately.
If you are a small business owner in North Texas and youre looking for one or more types of business insurance inFrisco TX, call us at the Anthony Blackmon Agency at (469) 291-9006.
Business insurance Frisco TX
Anthony Blackmon Insurance Agency
9191 Kyser Way, Suite 200
Frisco, Texas 75034
(469) 291-9006
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