Insurance

Does Each Major Asset Need Its Own Commercial Policy?

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When you operate a business in Ft. Worth, TX, you have to learn how to juggle. It’s a vibrant city, but that comes with competition and a fast-paced business environment. In order to keep up, you need to get fast answers to important insurance questions. Main Street Independent Insurance Agencies Inc. loves providing fast answers. Let’s answer a common question right now. Does each major asset need its own commercial policy?

Yes

Every single asset needs coverage. You need property and liability insurance for everything of value. The property coverage is obvious. If something happens to an asset, you don’t have to replace it with cash on hand. As for liability, it seems weird that stock, buildings and other static assets might need this coverage, but it’s a harsh reality of business. People can find a way to get hurt anywhere, and you don’t want to lose valuable assets as a result.

But Also No

Every asset needs coverage, but that doesn’t mean you need an individual policy for each asset. Virtually every major insurer will help you bundle your assets to simplify your policy. Every asset will contribute to the bulk policy, but things can be simple. If you can bundle home and auto insurance, of course you can bundle business assets too. With that said, specialty assets do exist, and some of them might require an individual policy. That usually has to do with regulations more than the insurer’s policy, but exceptions exist to every rule.

If you want a deeper look at your commercial insurance options, the easiest way is to talk to your Main Street Independent Insurance Agencies Inc. representative. We’ve been helping businesses in Ft. Worth, TX, for a while, and we’ll be happy to help you too.

Commercial Insurance Protects Your Business with Liability Coverage

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Commercial insurance is designed to protect businesses in many ways. One of the most important is the liability protection it provides. It can help a business recover quickly following a disaster rather than struggling to survive. With the combined policies that commercial insurance offers, businesses can tailor their coverage to meet their needs. At Main Street Independent Insurance in Ft. Worth, TX, our agents help businesses understand their options and make decisions that financially protect their growing clientele. 

As a combination of policies, commercial insurance can include property insurance if the company owns buildings. This also covers any items such as computers, supplies, inventory, and data. Employees are covered by workers’ compensation. Business continuity insurance helps a company if they are unable to operate or have a limited output following a disaster. Commercial auto insurance covers the company’s vehicles. 

Perhaps the most important aspect to many companies is the liability coverage. This comes into effect if a customer is injured at a company site. It also protects the company if any customer is injured by the products or services that the business offers. Liability coverage can also be added if staff attend trade shows or give demonstrations. For professional entities, such as doctors or dentists, there is also professional liability coverage. An umbrella policy can provide additional coverage when the base policies reach their policy caps.

Every aspect of a commercial policy is designed to protect the company and its operations. Our agents at Main Street Independent Insurance in Ft. Worth, TX work with area businesses every day. Browse our website for information on insurance policies and then come in to talk with our agents about your business’ needs. Don’t leave your business vulnerable! Take time to protect that company that you have worked so hard to build. 

The Top Three Commercial Insurance Products Every Startup Needs

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You’ve put a lot of time, hard work, and money into starting your own Colorado or Texas business, and like most entrepreneurs, you’ll likely face a lot of risks. When you take the leap with a startup, you need to protect your business assets, your employees, and your board members with crucial business insurance products. The following business insurance products are recommended by Main Street Independent Insurance of Ft. Worth, TX for every new startup.  

Comprehensive General Liability 

Most service contracts your new business enters will require a minimum comprehensive general liability coverage limit. Also known as CGL insurance, in the event of a claim against your company, this policy will cover your legal defense costs when facing claims such as: 

  • Property damage 
  • Third-party bodily injury 
  • Advertising injury 

Directors and Officers Coverage 

Also known as D&O coverage, this policy covers events related to your board. There are three sides to this coverage; Side-A, which protects your startup’s officers and directors from decisions they make that impact the company, also called “wrongful acts.” Side-B indemnifies a director or officer, compensating for defense costs, and Side-C protects your business from class-action or shareholder suits related to securities issues. 

Errors And Omissions 

Professional Liability insurance, also known as E&O, covers the services your Colorado or Texas company provides. An E&O policy protects your company and employees from claims made by clients or customers related to work that is unsatisfactory or careless actions. If your startup has clients, you need E&O insurance coverage.  

If you are interested in learning about other types of business insurance products your startup might need, we have you covered. Give Main Street Independent Insurance in Ft. Worth, TX a call today to learn more. 

What Commercial Insurance Can Do For You in Ft. Worth, TX

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Due to a strong local economy, owning a business in the Ft. Worth, TX area can be a great career option. If you do own your own business in this area, it is important that you carefully consider all of the ways that you can protect your organization. One of the best ways to protect your business and investment in it is by getting a commercial insurance policy. One of these policies can help to protect your business a number of ways.

Covers Your Assets

Whenever you start a business, you will have to invest a lot of money in assets. This can include buying inventory, capital equipment, and other fixtures. If you happen to be a victim of theft, fire or storm damage, or vandalism, you could suffer a major setback. Fortunately, when you have a commercial insurance policy in place, you will receive coverage for any damages that you suffer.

Liability Coverage

All business owners need to be concerned with their liability risk. Whenever you offer a product or service, you are taking on risk that someone could be injured or become sick by using it. In these situations, you will want to have a liability insurance policy to help protect you. This will give you financial and other types of support if you are found to be liable for damages.  

Getting coverage for your Ft. Worth, TX Business is very important and could make or break your organization. Since it is such a big decision, you should reach out to Main Street Independent Insurance Agencies Inc. when you are shopping for a new policy. The team at Main Street Independent Insurance Agencies Inc. could help you to find a commercial insurance policy that will properly protect your organization.

How Does Commercial Insurance Work?

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When you have a business of any size, it’s important to know how commercial insurance works. You need to think about the coverage that’s right for your business and your employees in Ft. Worth, TX. At Main Street Independent Insurance Agencies Inc., we’re here to guide you through the process.

Commercial insurance policies are customized based on what you have going on. The policies can be for workers compensation, property insurance, general liability insurance, business interruption insurance, and more. If you have commercial vehicles, you will also want to get auto insurance. If you have a lot of equipment that you depend on regularly, it may also be important to look at equipment breakdown insurance.

You will want to consider what could go wrong. This includes what could happen with your property, your employees, and even the product inside of your building. Once you examine everything, it will be easier to know what you need to protect.

Commercial insurance essentially protects your business. Should something happen, you can file a claim with the insurance company. Once you pay the deductible, the insurance company pays for the rest, up to the limits that you have in place. It can serve as the financial protection that you need. Otherwise, without a policy, you could be left spending thousands of dollars on damages, injuries, or something else.

You don’t want to bankrupt your business because of one problem. As such, you need to look at the best way for you to protect your business.

Coverage is critical as it will ensure that you’re prepared for every possible scenario in Ft. Worth, TX. Contact us at Main Street Independent Insurance Agencies Inc. so that one of our agents can answer your questions and help you to get the right policies. This way, you’re better protected.

 

Is Officers And Directors Insurance Included In Commercial Insurance?

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When you are looking at insurance for your business in Ft. Worth, TX, it’s critical to look at what is included in a policy. It may be necessary for you to provide protection to the officers and directors within your company. You want to build your insurance to include any potential coverage that you might need in the event that something happens.

Traditional commercial insurance will include such things as liability coverage in the event that a person injures themselves on your property or an employee damages the property of a customer. However, officers and directors insurance is, typically, not included in a commercial insurance policy.

It is possible to add officers and directors coverage. It is commonly referred to as D&O insurance. This can be added to your full commercial insurance package, which may include other coverage options, too, based on the individual aspects of your business.

At Main Street Independent Insurance, an independent insurance agent can work with you to determine if you need to have D&O insurance. It would provide the liability coverage to cover directors and officers if there is a loss as a result of a legal decision made by a director or officer as well as for defense costs.

You don’t want to leave your business vulnerable to anything that could happen. It’s best if you can plan for anything that may happen so that you’re prepared. Otherwise, you could find your business on the hook for thousands of dollars that you’re not prepared to pay for.

To learn more about how to cover officers and directors with your commercial insurance package, it’s essential to work closely with an insurance agent. Contact Main Street Independent Insurance today to learn more about the options that are available to you in Ft. Worth, TX.

 

What Does Commercial Insurance Cover For E-Commerce Business?

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Almost everyone knows that if you are in business, you will likely need commercial or business insurance. What exactly does the insurance coverage for e-commerce businesses though? If you are an e-commerce business owner, you need to be familiar with what the coverage offers and what items are protected. Find an agency that knows the e-commerce market and can counsel you through the insurance process. 

E-Commerces Business Coverage

Even business owners who operate online need commercial insurance coverage. Your commercial insurance will cover your office supplies such as your computer and will also cover your inventory. In some cases, you may be able to cover special items necessary to operate your company. Consult a commercial insurance expert to help you outline your individual situation. Once you know what you need to cover, you can begin finding the products that match your business goals and needs. 

Working With Professional Agents

Having professional agents to guide you throughout the life of your company is necessary to give you the top-notch protection needed to avoid distant and costly events. If you have a company operating in Texas or Colorado, you should speak with an agent from Main Street Independent Insurance. They will work closely with you to find the products that will give you peace of mind. The right insurance can mean avoiding costly losses and financial devastation.

Don’t leave your company unprotected if you have an e-commerce business. Call or stop by Main Street Independent Insurance, servicing Colorado and Texas, to find out what your options are. Start protecting the things that are essential to operating successfully in today’s e-commerce market. 

Can you Have Both Commercial and Property Policies on the Same Property?

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When it comes to owning a commercial property, it is always important to make sure that the property is insured to protect your investment. Without the right insurance policy, you can end up losing everything. For those in the Ft. Worth TX area, the agents with Main Street Independent Insurance can help you find the right commercial policy to protect your business.

Commercial Property Policies

There are a few different things to keep in mind when it comes to a commercial policy. Most commercial policies cover the actual business and possibly the health of employees and patrons of the business. This is a great way to make sure that if you do have a business that is open to the public, that your investment and your patrons are both safe.

With a property policy, the main thing covered is the property itself plus any named items. Property policies are not exactly right for commercial properties simply because they do not always cover the people that may be on the property. In most cases, a property policy is just going to insure the property listed and any buildings that might be there. If you have a commercial property you may be interested in a commercial property policy, however. This gives you the best of both types of insurance.

A commercial property policy is going to protect the business and its patrons as well as the property that is on the premises. This is a great policy to have if you are stuck between choosing one or the other.  For those in the Ft. Worth, TX area, the agents with Main Street Independent Insurance Agencies Inc. can help you determine what policy works best for you and what policy is going to best protect your commercial interests.

4 Ways to Get the Best Commercial Insurance Coverage

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When you have a business, you want to make sure it’s operating correctly. It needs to perform well to stay growing and meeting customer needs. But one of the areas you might accidentally overlook is insurance. You need the right policy for your company, because you need to protect your business, your employees, and your customers. By working with Main Street Independent Insurance, you can get the right commercial insurance policy for your Colorado or Texas business. Here are four ways to get the best commercial insurance coverage, along with some important peace of mind.

  1. Make sure you talk to an agent who really understands what commercial insurance products are available in your area.
  2. Be upfront about the kind of business you operate and the type of coverage you’re looking for.
  3. Get quotes from multiple companies, and compare what they’re offering along with the premiums they’re requesting.
  4. Periodically review your policy with your agent, and update it as needed so you can stay current on your level of protection.

By carefully finding the right policy and making sure you update it as necessary, you can get the best commercial insurance for your company’s needs. That’s a great way to make sure you’re protected, and the peace of mind you’ll have from that matters.

Reach out to us today at Main Street Independent Insurance. We understand the needs and goals of your Colorado or Texas business, and we’re here and ready to help you get the policy and coverage that works best for you. Not every business needs the same type and level of insurance, so working with a knowledgeable agent is key to making sure your company gets what it needs to be properly protected.

Do You Need Commercial Auto Insurance for Your Business Vehicles?

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Commercial auto coverage is recommended if you use your vehicle for a significant amount of business activity. Don’t rely on your auto insurance to cover your vehicle or commercial fleet. A representative from Main Street Independent Insurance in Ft. Worth, TX can help you understand your options for commercial auto insurance.

What is Commercial Auto Insurance?

Commercial auto insurance has the same basic coverage as personal auto insurance, with some added protection for your business. It includes:

  • Property damage pays for damage to another person’s vehicle in an accident caused while you or an employer is driving for business purposes.
  • Bodily Injury covers medical expenses for third parties injured in an accident caused by you or an employee.

There are many other types of commercial auto insurance, and you may be able to get discounts for multiple vehicles. Ask your Main Street Independent Insurance representative about comprehension, collision, underinsured motorists, and other policies.

Who Needs Commercial Liability Insurance?

Anyone who has a business and uses a truck, van, or car for business purposes should consider commercial auto insurance. If you have a sizable fleet of company vehicles, you need commercial auto liability insurance.

Auto coverage is required for all vehicles in Texas. However, if your business requires CDL operators, you are required to have additional coverage. This might include motor carriers, freight brokers, and forwarders. Additionally, any vehicle transporting goods or passengers across state lines is mandated by federal law to have liability insurance.

Further, having auto liability insurance helps you avoid costly lawsuits.

Contact Main Street Independent Insurance in Ft. Worth, TX today for more information on how commercial auto insurance can protect your business assets. Call today to set up an appointment for a free quote.