When do business owners need to invest in a commercial insurance plan?

The entire Huntington, TX area has experienced much growth in recent years. While this has made it an excellent place to live and establish roots, it has also made it a good place to start a business. To start and build a business here, it is crucial to evaluate your insurance needs. Business owners in this area will need to have coverage for various reasons. 

When Looking to Protect Business

A situation when business owners will need to invest in commercial coverage will come when they want to protect their business. Any business owner is responsible for protecting their organization’s future viability. If you get commercial coverage, it can provide you with this support. Commercial coverage will protect assets owned by your business and provide helpful liability coverage, both of which can provide support during difficult situations.

When Looking to Comply with Requirements

Another scenario when a business will need commercial coverage will come when they want to comply with requirements. A business will have requirements for insurance set by many different entities. These can include investors, lenders, property owners, clients, and regulatory agencies. A full commercial plan will help ensure that a business stays in good standing with these insurance requirements. 

As you are looking to build and improve a business in the Huntington, TX area, it would be a good idea for you to consider your insurance needs carefully. With so many choices to make, beginning your search by calling Integra Insurance Services is an ideal option. The professionals with Integra Insurance Services will give any guidance you need to understand all of your options and build a quality policy. 

How To Avoid Risk As A Small Business Owner

Owning a business generates a great sense of accomplishment, but it also carries with it many risks. Learning how to avoid the most common risks is important to your future success. At Integra Insurance Services serving Huntington, TX and surrounding areas, we want to provide our clients with the best information so that they can make intelligent insurance choices. Keep reading to learn how to avoid risks as a small business owner. 

Screen Employees Thoroughly 

It is very important that you only bring on new team members who are going to bring value to your business and not take away value. You can cut down on risks by screening employees thoroughly with the use of background checks and in-depth reference reviews. 

Keep High Safety Standards

One risk that business owners face is the risk of injuries in their place of business. Injuries can affect both employees and customers. You can cut down on these risks by always insisting on high safety standards. Keeping areas impeccably clean and free of clutter is another great way to cut down on the risks of injuries. 

Proper Training

Insisting that employees are trained properly is also imperative to cut down on risks. This is especially important if your company works closely with clients or customers. If you are providing service within customers’ homes or vehicles or handling hazardous materials this is of utmost importance. It may take more of a time investment upfront to train employees properly, but this investment could save you from difficulties in the future.

If you would like to learn about commercial insurance or any of our other insurance products, please contact us at Integra Insurance Services, serving Huntington, TX, and the surrounding areas. 

Required Commercial Insurance in Texas

When you own a business in Texas, it’s important to have all of the insurance coverages that you need to keep you and your business protected. In this state, there is only one type of commercial insurance that is required in most cases, but there are several other types that are extremely helpful for businesses of various types. If you need commercial insurance, call us at Integra Insurance Services in Huntington, TX.

Commercial Auto Insurance

When your business owns a vehicle in Texas, it is required to have commercial auto insurance. There are three amounts of coverage that are required to be in these policies. The first is an amount of bodily injury liability for one person who is injured in an accident caused by your company’s vehicle. The second is a large amount that is required for all of the people who become injured in this type of accident. The third is a minimum amount of property damage liability that covers the damage to someone else’s property in an accident caused by your company’s vehicle. If you have a vehicle that is used for work tasks, but it’s not owned by the company, it should have a policy called hired and non-owned. This isn’t required, but it is a smart choice to make sure that your vehicle is covered when it is taking care of work tasks. 

Workers’ Compensation Insurance

Texas is unusual among states because it doesn’t require every company to have workers’ compensation coverage for its employees. This coverage is only required if you contract with the government. Otherwise, it’s simply suggested and not required. This type of insurance pays for the medical bills that are caused by an employee who is injured while on the job. This coverage can keep you from being sued over these bills and other expenses related to the injury. 

Call Us Today

If you need commercial insurance, give us a call at Integra Insurance Services in Huntington, TX.

Is Commercial Insurance Mandatory in Texas?

Buying proper commercial insurance in Huntington, TX is vital for small business owners. Before purchasing commercial insurance in Huntington, TX it’s imperative to undertake thorough research to ascertain that it meets your needs and budget. Commercial insurance is instrumental for Huntington, TX business owners who want to safeguard their livelihood from financial mishaps that usually arise from accidents like a client’s slip and fall or a worker sustaining an injury. When you live in Huntington, TX you need to initiate an income-generating project like establishing a business. This investment usually comes with inherent risks that warrant prolific protection. Are you contemplating starting a business in Huntington, TX? Please get in touch with our agents at Integra Insurance Services to get the right commercial insurance that suits your needs and budget. 

Is commercial insurance mandatory in Texas?

Workers’ comp insurance is not legally required in Texas. Texas is the only state that doesn’t demand businesses to carry worker’s comp insurance. However, commercial auto insurance is mandatory for business owners who own a fleet of vehicles. As a business owner in Huntington TX, it’s paramount to consider other optional commercial insurance coverages to safeguard your business from imminent perils. They include:

General liability insurance: Accidents are bound to happen, and this limits any control over the impending cost of injuries inflicted on your client because of your products and services. It’s pivotal to invest in commercial insurance as it covers you against bodily injury liability and property damage. It caters to medical expenses and impending lawsuits. 

Property insurance: It safeguards your building and contents, together with any resulting impact on your business income after a covered calamity like fire, lightning, or any other form of misfortune.

Cyber liability insurance: It cushions your business from costs of data breach and recovery by helping you to pay for security breach expenses, extortion threats, and public relations expenses.

Workers’ Comp Insurance: Though Texas state does not legally require this form of policy, it’s a vital tool to consider. Many states design their coverage to help cater to employee’s work-related injuries and sicknesses. Workers covered by this form of coverage get medical care to treat their illnesses and injuries. It might cater to funeral benefits and lost income.

Business interruption insurance: Did you know some disruptions arising from imminent perils in Huntington, TX, could relegate your business to a standstill or complete shutdown? Sometimes a sprouting calamity may disrupt your business or even a hacking incidentThis policy is tailored to shield your business venture during covered events to replace funds you would have accrued or provide funds to operate in an alternate location temporarily.

Are you a business owner in Huntington, TX looking for magnificent commercial insurance to safeguard you, your business, and your employees? Please call or visit us at Integra Insurance Services for queries and more information about commercial insurance coverage. 

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.