Business Insurance in College Station Texas

Every business encounters a certain amount of risk; it is an ever-present part of doing business. One type of risk that a company can alleviate is business liability and other similar risks. Business insurance is something that almost every company needs; however, not all businesses need the same coverage. Depending upon the type of business and its operation, a company should obtain the business insurance coverage that will provide them with the right protection.

Basic Business Insurance Coverage

Most businesses will at least need one or more of the following types of business insurance coverage:

  • General Business Liability Insurance - This is the one policy that nearly every business needs. It protects a business, its owners, and any employees from damages that occur as a result of doing business. This can include things such as property damage, personal injuries, medical costs, libel, slander, and many other liabilities a business owner might face.
  • Commercial Property Insurance - In addition to business liability insurance, any company that owns or leases a physical location to conduct business requires commercial property insurance. This type of business insurance covers the building itself, as well as its contents and other types of named equipment and items.
  • Commercial Auto Insurance - If a business owns vehicles or if use personal vehicles owned by employees, those vehicles must be covered under a commercial auto policy. Personal vehicles used for business purposes are not covered under regular, personal insurance policies.

Additional Types of Business Insurance

In addition to the basic types of business insurance coverage mentioned above, some businesses may also require other, more specific types of coverage, such as the following:

  • Professional Liability Insurance - Professional liability insurance is also known as errors and omissions insurance. It protects a business from liabilities that can arise for those businesses who provide professional advice or opinions. These type of liabilities include mistakes, omissions, malpractice coverage, coverage for negligence, and more.
  • Product Liability Insurance - Product liability business insurance is an essential type of coverage for any company that produces and sells products. This coverage protects the business against damages caused by any product created, manufactured, or sold by the company.
  • Business Interruption Insurance - Business interruption insurance protects a company financially, when there has been some kind of interruption in business; it provides necessary funds to keep a business operating. While not every business requires business interruption insurance, it can be a great help should a company experience some kind of loss that affects their ability to conduct business.

Although every business has different business insurance requirements, most will require at least a few of the above-referenced policies to be well-protected. Should a loss occur, failure to carry the right business insurance can leave a company exposed to liability situations without the essential financial assistance needed to remain in operation. To learn more about these various insurance policies and which type of insurance coverage is most appropriate, business owners should discuss their needs with a qualified business insurance agency!

Need Business Insurance in College Station Texas?

Service Insurance Group Can Help You Get the Right Coverage!

Call (979) 217-6820!