Do I Need Commercial Auto Insurance?

Every country issues a driving license to drivers who show competence. Licensing ensures that drivers are knowledgeable on road safety practices hence minimizes accidents that may cause loss of life. Buying insurance for your vehicle is a worthwhile investment. It gives you an easy time in case an accident occurs. Integra Insurance Services in Huntington, TX, provides its clients with insurance that covers their personal and commercial auto insurance at friendly costs. Here is what to know about your commercial auto insurance.

Personal Versus Commercial Auto Insurance 

The main difference between personal and commercial auto insurance is who owns the car. If your business owns a vehicle, it is mandatory to insure it with commercial auto insurance. Personal auto insurance only covers accidents that may occur while one is using their vehicle on private activities. Its policy entails less coverage making it cheaper than commercial auto insurance.

What Does Commercial Auto Insurance Cover?

Commercial auto insurance covers accidents that occur when you or your employees are driving a company-owned vehicle. While both personal and commercial auto insurance policies cater for legal and medical costs associated with vehicle accidents, commercial auto insurance covers higher claims, different vehicle types, and more advanced legal matters.

Covering Business Vehicles

Business owners who possess a vehicle used majorly for business are the immediate targets for commercial auto insurance. It has a higher liability limit compared to personal auto insurance. Typically, it covers vehicles used in transportation, carrying clients or employees, towing alongside other services that earn income.

Acquiring a Commercial Auto Insurance Cover

In most states, purchasing car insurance is a federal requirement. Managing, repairing, and potential court sessions are costly and time-consuming. Integra insurance services offer professional insurance covers based on your preference at friendly rates. Visit them today for details on your preferred insurance package if you live around Huntington, TX.

What coverage comes with commercial insurance in Texas?

In the Huntington, TX area, owning a business can be a great career path. Those that choose to own and start a business here will appreciate the local support for small businesses and the strong economy. If you are going to start a company anywhere, you need to have proper insurance. A full commercial insurance plan in Texas will provide a business with several different forms of insurance coverage that could protect the organization.

Protection Against Liability Risk

A very important benefit that you will receive when you get a commercial insurance plan is protection against your liability risk. If you are going to sell anything to a customer, you will always take on liability risk. If you are deemed liable for damages, the costs associated with it can be significant. Fortunately, with a full commercial insurance plan, you will get the liability insurance protection that will help to offset this risk. 

Coverage for Company Assets

A business owner is going to need to purchase some type of asset to get the company moving in the right direction. This can include major equipment, inventory, or other valuable assets. If there is ever an event that results in damage or loss of these assets, it could be very bad for the company. With a proper insurance plan, this risk can be properly mitigated and offset with coverage. 

Anyone that is going to start a business in the Huntington, TX area needs to have proper insurance for their company. As you are looking for a new plan, it would be wise to call Integra Insurance Services. The insurance professionals with Integra Insurance Services will help you better understand your options and give the guidance needed to choose a policy that is right for you and your organization. 

What is a business owner’s policy?

Some businesses only need a single insurance policy, the business owner’s policy, to cover their needs. A BOP from Integra Insurance Services bundles the four most common types of commercial insurance into one policy at a discounted premium. If the business purchased all four coverages separately, the premiums would cost significantly more.

The BOP includes coverage for named perils, property damage, business interruption, and liability. The named peril coverage usually includes major perils, such as fire, explosion, wind, hail, smoke, and vandalism. This coverage leaves many items out however, you can opt for a higher level of coverage called all perils or all risk. This makes for a smart choice in Huntington, TX where droughts and tornados can wreak havoc.

The property damage component reimburses the cost of repairs to the structure’s contents. This covers damage or loss of personal property or office equipment. It also covers items belonging to a third party but stored on the property or within its close proximity (within 100 feet of the premises). This means you could have boxes stacked outside the rear door or barrels sitting on the front entry portico, and they would still receive coverage, although they were not technically inside the confines of the business structure.

Business interruption insurance covers your income lost when a named peril creates an unexpected break in the business. In some policies, this coverage also pays for you to operate out of a temporary location.

The liability coverage component protects you from a lawsuit wiping out your business. If an individual or group sues your business due to an injury incurred on the business’ property, your liability component pays:

  • the settlement, 
  • their medical bills, 
  • your legal fees, 
  • court costs.

Contact Integra Insurance Services serving Huntington, TX to learn more about business owner’s policies and other commercial insurance that can protect your business.

Three mistakes to avoid when you purchase commercial insurance in Texas

Business owners need to understand the importance of having commercial insurance. We can help answer your questions about commercial insurance in Huntington, TX at Integra Insurance Services. 

The following are three mistakes you need to avoid when you purchase commercial insurance in Texas.

Failing to compare options between providers

There are many different insurance providers offering commercial coverage in Texas. You shouldn’t just accept a policy from the first provider you look into.

Instead, you should get quotes on policies from several different providers. Then, you can compare them and choose the one that would be best for your company’s needs and budget. 

Neglecting to perform a risk assessment

One important step you don’t want to skip when you buy commercial insurance coverage in Texas is performing a risk assessment at your company. A risk assessment involves pinpointing your liability risks. 

When you identify the liability risks that your company faces, you become aware of what types of coverage you need. It’s easy to overlook a significant liability if you don’t have a thorough risk assessment done before purchasing a policy. 

Being unaware of the various types of commercial insurance

Commercial insurance is a fairly complex product. There are many different kinds of commercial insurance coverage out there. It’s important to be familiar with these types of coverage to determine which ones you need.

Some of the most important kinds of commercial coverage are commercial auto, commercial property, commercial liability, and worker’s compensation coverage. Understand the different types of coverage and how they work before you purchase a policy. 

To learn more about commercial insurance options in Huntington, TX, get in touch with us at Integra Insurance Services. We can answer your questions and help you find adequate coverage for your commercial needs. 

What are the benefits of a Texas commercial insurance policy?

Anyone that is looking to start a new business will want to find a location that offers a variety of great amenities. One location that can offer a lot of opportunities to small business owners in Huntington, TX. For those that are in this area of Texas and start a business, it would still be wise to get a new commercial insurance policy. There are several ways a commercial insurance policy can benefit a Texas small business. 

Ensures Compliance

One of the reasons to get a commercial insurance policy is that it can ensure you are in compliance with a variety of different requirements. Today, many businesses of all sizes are obligated to carry commercial insurance by their lenders, landlords, and investors. When you get this coverage, it can help to ensure you stay in compliance with your insurance obligations.

Protects Business

Even if there is no obligation for you to carry this insurance, you should still get a commercial insurance policy. When you have a full insurance policy, you will receive protection for your business assets and against liability. This could prove to protect your business in some challenging situations. 

If you are a business owner in the Huntington, TX area, it is clearly very important that you get a commercial insurance policy. As you are shopping for a new policy, you could soon find that it is a complex form of insurance to shop for. Since it is such a challenging form of insurance to assess, you should reach out to Integra Insurance Services to assess your needs. The team at Integra Insurance Services can help you to better assess your needs and then get you into a policy that provides the right type and level of coverage. 

3 Commercial Insurance Coverages To Consider

We are Integra Insurance Services and we have been serving Huntington, TX, for many years. We offer different types of insurance policies. For business owners, we offer several types of commercial insurance coverages and we will give you three of them to consider.

1.         General liability insurance

This coverage protects your business from lawsuits bordering on slander, libel, property damage, or bodily injury. The policy will provide funds for legal defense and also settle the plaintiff if you’re found guilty. Without this coverage, if you lose the case, the settlement could run you out of business completely.

2.         Business income insurance

When your office and equipment are damaged by fire or wind, this coverage compensates you for the amount of revenue you lost due to the incident. Theft of business equipment is also covered by this policy. If your tools are stolen, it may take some time before you are able to replace them. During that period, there’ll be a drop in your productivity. This coverage will refund the amount you lost.

3.         Commercial property insurance

This coverage will pay for the repair or replacement of your damaged or stolen equipment. Don’t mistake it for business income insurance policy, which compensates you for loss of revenue caused by damaged or stolen tools.

Imagine a situation where a sudden tornado hits your office, damaging your equipment and all the vehicles parked in your premises. Due to the damage, your office has to be closed for a couple of weeks. Unfortunately, the wind also hurled some stones which broke the windshield of one of your customers’ cars.

To make things worse, the customer filed a lawsuit against you. Without any commercial insurance policy, it will take a miracle for your business to survive the litany of issues. On the other hand, if you have purchased the three insurance coverages above before the incidence, you’d be unruffled.

General liability insurance will take care of the customer’s car and the lawsuit. The business income insurance will compensate you for how much you lost during the closure of your office, and finally, the commercial property insurance policy will reimburse you for the cost of repairs and replacements.

For other essential commercial insurance coverage, contact us at Integra Insurance Services in Huntington, TX.

What are the Main Advantages of Getting Commercial Insurance?

Starting a business and being their own boss is a common career goal shared by a lot of people. When you do start your own business, finding the right place to do so is a good idea. The city of Huntington, TX can be a great option as it has a good economy and population trends. Those that are in this area of the state and own a business still need to consider all of their insurance needs. There are many advantages that come when you get commercial insurance. 

General Liability Insurance 

One of the benefits of getting commercial insurance is that it can provide you with general liability insurance. There is always a risk that you will be sued for liability, no matter how safe and efficient your business is. Due to this risk, you are going to want to have commercial insurance at all times as it will provide you with the general liability coverage that you need to have peace of mind and be properly protected.

Business Asset Protection

One of the most devastating things that could happen to a business owner would be if their core assets or inventory is damaged, stolen, or vandalized. When this occurs, it can be a very serious and dramatic cash outlay to replace it. When you have a good commercial insurance policy in place, it will give you the coverage that you need to ensure you can replace these assets.

Those that are in the Huntington, TX area should call Integra Insurance Services when they need commercial insurance. Choosing the right commercial insurance policy can be a complicated and confusing process. To make this easier, you should contact Integra Insurance Services to better understand the benefits that this insurance can provide. 

How Workers Compensation Protects Workers and Businesses

The Texas Department of Insurance sets the rules on worker’s compensation in the state.  However, these regulations are more than legal requirements. Businesses and their workers both benefit from a comprehensive worker’s compensation package. How can a customized worker’s compensation package from Integra Insurance Services help your Huntington, TX business thrive?

How Worker’s Compensation Benefits Employees

Worker’s compensation insurance was created as a way to help workers recover from injuries sustained while they’re on the job. In order to ensure each injured worker has the best chance of a full recovery, worker’s compensation provides funds for essential services and treatments, like:

  • Care from primary physicians and specialists
  • Surgeries
  • Physical rehabilitation
  • Drug therapies, including pain relief

Many plans also provide workers with a portion of their regular income. This allows them to live a comparatively comfortable life while healing.

How Worker’s Compensation Benefits Employers

While worker’s compensation is meant to benefit injured workers, their employers also benefit from this unique coverage.

  • Employers can retain excellent workers. Rather than lose your best employees, worker’s compensation allows them to heal and return to the job quickly.
  • Employers can better manage healthcare costs. For employers who offer healthcare packages to their employees, having a worker’s compensation plan helps them cut down on chronic pain and lingering issues related to workplace accidents. This leads to lower healthcare costs for your entire staff.
  • Employers make a more attractive option. In high-competition trades, a well-planned benefits package could make the difference between hiring the best and taking what’s left. Include worker’s compensation in your benefits to woo in-demand workers.

Worker’s compensation is an excellent value for employers and their employees. Contact the representatives at Integra Insurance Services to learn how our worker’s compensation plans can improve your Huntington, TX area business.

Essential Types of Commercial Insurance all Businesses Need in Huntington, TX

Owning a business is a huge responsibility. If you own a business in the Lone Star state, specifically Huntington, TX, having the right protection is a must. However, with all the small business insurance options out there, it can be confusing trying to figure out what you really need. Our goal at Integra Insurance Services is to make this as easy as possible by providing the information needed to make an educated decision and purchase.

Minimum Requirements for Business Insurance in the State of Texas

It is not mandatory to carry commercial liability insurance for a business that is operating in Texas. This is a state that is considered business-friendly and that has been a leader in regard to lawsuit reform to help and discourage the filing of frivolous claims. However, lawsuits still pop up in this state. If you own your property or another valuable asset, it is a good idea to invest in general liability coverage for your business, as this will help to limit your exposure.

Types of Business Insurance to Consider

There are several types of business insurance to purchase in Texas. While commercial general liability coverage is one of the most important, some of the other coverage options you can choose from include:

  • Commercial property insurance
  • Employee disability insurance
  • Product liability
  • Business Owner’s Policy
  • Professional Liability
  • Employment Practices Liability Insurance
  • Errors & Omissions

If you use your vehicle for business purposes, you don’t have to have a commercial vehicle policy, but it is a good idea. However, you do have to have the minimum automobile policy to cover yourself if you are involved in an accident.

If you are ready to purchase business insurance in Huntington, TX, be sure to contact our team at Integra Insurance Services.  

Which kind of business needs commercial auto insurance?

If you use your vehicle for business purposes, then you may need to purchase commercial auto insurance. You can’t always prevent accidents from happening, but you can prevent yourself from having a large financial setback when accidents do occur. 

Risk can take many forms when you have a business, but when vehicles are involved, you have another set of risks involved. Even if your driver follows all of the driving laws and drives cautiously, mistakes can happen. They could have just one moment of distraction, or another driver could be driving recklessly. The risk is everywhere, and insurance is there to make sure that everyday life doesn’t slow you down or set you back.

You may not be able to completely eliminate your risk, but with the appropriate insurance, you can manage it. Commercial auto insurance is similar to the auto insurance private individuals purchase but at much higher limits.

By purchasing commercial auto insurance, you protect both your business and your business’ interests. Within those interests, you will be protecting your employees (both primary employees and those you may be doing business with) and your equipment (vehicles and goods). If you use a vehicle to transport goods or people from state to state, then you may be required by the federal government to have commercial auto insurance. Things to consider are the type of goods (hazardous materials) and the number of people (16 or more people require a higher premium of insurance than those carrying 15 or fewer) that you are transporting.

For more information and details about commercial auto insurance and how it could benefit your business in Huntington, TX, you can contact Integra Insurance Services. They can help you find the insurance that is right for you and your business.