Insurance That Small Businesses Are Overlooking

Small businesses in Huntington, TX likely have a basic insurance policy, but there are other lesser-known policies that may be important. An agent at Integra Insurance Services can help you find a general commercial liability policy and discuss your business risks to determine if these policies are right for you.

Cyber Insurance

Hacking has grown and it doesn’t take long to deploy some malware, and small businesses can be the target. Cyber insurance can help cover incident response costs, but it will also cover expenses from any losses, which can include business interruption, data recovery costs, liability coverage, and settlement coverage.

Professional Liability

For business owners that provide a service, this insurance protects you from a client that is unhappy. If someone thinks you are negligent, this policy could kick in if you are sued. General liability will not cover dissatisfaction. Personal liability for homeowners insurance won’t cover anything professional. Depending on the industry, you may need a policy that is more unique. For example, errors and omissions insurance covers service providers for any mistakes they make.

Inland Marine Insurance

Despite its name, this coverage is necessary for any business that is going to have its inventory on the move. Most property insurance only covers inventory within 500 feet of the business, so if a boat, truck, or airplane is moving product around the country, this type of policy can cover it.

Contingent Business Income Coverage

This policy will help cover your business if there is a loss of income due to damage or loss somewhere else. For example, if a part maker goes out of business, then this policy kicks in.

Employee Non-Owned Car Insurance

If your business has a car, regular commercial auto insurance is only vehicle-specific and doesn’t travel with the driver. If the employee is in his or her own car, their personal auto insurance policy would cover them. However, you could still be named in a lawsuit and having a commercial policy will protect you.

Contact Integra Insurance Services serving Huntington, TX for a quote on commercial insurance.

Do we need a business automobile insurance policy if we rent instead of owning company cars?

Most people don’t realize that there are, in fact, many differences between commercial automobile insurance and personal automobile insurance. They often find out when it is too late that they were depending on a personal insurance policy to protect them when the circumstances fell outside the range of what would be covered, leaving them to pay the full bill. The agents at Integra Insurance Services work to help their commercial insurance customers in Huntington, TX protect their businesses by making sure they understand the kind of protection they need for their situations.

The first most important thing to understand is that a personal insurance policy or a business owners policy (BOP) will not provide coverage for automobiles used primarily in a business. Those kinds of coverage must specifically be provided by auto insurance policies.

The Business Auto Coverage Form (BACF) is the most commonly used contract that businesses use to provide coverage for their automobiles. This means cars, trucks, vans and any other kind of conveyance the business needs to use. The policy will need to list all of the vehicles which are intended to be covered under the policy, or the people who will need to be covered if they are driving while conducting business.

When you are choosing the coverage that best suits your needs, you will have to decide what should be covered. Do you want to cover only the automobiles the company owns, hires or leases? Or do you also want to cover other automobiles that your business uses also, such as when an employee runs an errand with a personal car? The second option provides wider protection for your business. The more coverage, the better protection.

If you have a business in Huntington, TX, call Integra Insurance Services to find the best commercial auto insurance for your company.

Do You Need Commecial Insurance At Your Law Firm?

Individualized insurance needs are a mantra of Integra Insurance Services in Huntington, TX. Like your fingerprint is uniquely yours so is the nature of your insurance needs. 

There are many factors to take into consideration when it comes to whether or not you need a commercial insurance policy if you are a licensed and practicing attorney. Commercial insurance has points that deal with the structure of your business. The basic physical property of a business puts the law firm owner at risk.

If your law firm is housed in a building where there are suites of other offices then it is imperative that you discuss with your landlord the specific coverage that your rental or lease agreement offers. These points are very specific and need to be understood fully.

Is your firm run out of your home? Are you meeting clients on the premises of your law firm or only elsewhere? Is your law firm housed alone as a sole structure? Are you renting or leasing the property? Do you own the property that houses your law firm? 

Being a licensed practitioner usually means you need additional insurance arms – including malpractice insurance. Come speak with us today. 

Integra Insurance Services in Huntington, TX takes a stand on how to underwrite insurance. Our agents also specialize in Automobile, Homeowners, and Other (Specialty, Property, Boat, and Toy) Insurance. When it comes to insurance having all of your eggs in one basket is a good thing. Especially when you go with an agency that works with your to provide the very best service by being an active listener when it comes to your insurance concerns. Then we transform into active doers in terms of putting our tremendous level of professional integrity into practice.  

Types of Commercial Insurance To Protect Your Business

The day a business opens, the owners of the company have elected to face certain risks. This is true even before the first employee has been hired. Business risks require that a company maintain the correct insurance be in place from the get-go.

The reality is, just a solitary lawsuit or catastrophe is enough to financially wipe out a small business before there has been an opportunity to get the business off the ground. Integra Insurance Services offers the following types of insurance to businesses in and around the Huntington, TX area.

Errors & Omissions Insurance (E&O)

E & O Insurance is also known as Professional Liability Insurance. It offers coverage for a business in and around Huntington, TX against:

  • Negligence claims
  • Mistakes, and
  • The Failure to perform

Each industry has its own set of topical issues that Integra Insurance Services will address as they prepare a customized business insurance plan.  

Property Insurance

Property insurance is a must, even for renters. This type of insurance offers coverage for inventory and equipment, in the event of a fire or theft.

Workers’ Compensation Insurance

This type of insurance will cover medical treatments and disability should an employee be injured on the job.

Home-based Businesses Needs

Small businesses typically begin at home. However, home insurance policies DO NOT cover a business the same way a commercial policy can.

Vehicle Insurance

If company vehicles are driven, they should be fully insured to protect against claims.

Business Interruption Insurance

A business’ operations will likely be interrupted if a weather event or catastrophe occurs. During this time, a business will lose income due to the staff’s inability to work. in the office, manufacture products or make sales calls.

Give the experts at Integra Insurance Services a call today!

What Is Commercial Insurance?

Do you own your own business? If so, you may be thinking about insuring your company. An agent at Integra Insurance Services serving Huntington, TX can help you not only find the right policy for your business, but show you what commercial insurance is all about. Commercial insurance is what makes the difference when your business makes a mistake or suffers physical damage.

Liability and Worker’s Compensation Insurance

Categories of commercial insurance include liability insurance, worker’s compensation insurance, and property insurance. As far as liability insurance goes, it covers your business in case someone outside your business gets injured or third party property is damaged. There are sometimes different subcategories under liability insurance that allow you get more specific coverage, such as malpractice or errors and omissions. Worker’s compensation insurance takes care of injuries suffered by employees while they are working. 

Types of Policies for Commercial Property Insurance

Within the category of commercial property insurance lie three different policy forms: basic form, broad form, and special form. All of these serve to protect a business against different types of damage.

  • Basic Form: covers perils that are common, such as some natural disasters.
  • Broad Form: usually covers what the basic form does, plus damage like the collapse of a structure or what can be caused by internal malfunctions, like leaking water systems.
  • Special Form: usually includes every peril that might occur, minus exclusions that are specifically described. Exclusions might include damage from war or vermin.

Get a Commercial Insurance Quote

Whether you are a new business in search of commercial insurance for the first time or an established business looking for a good quote, Integra Insurance Services serving Huntington, TX is a great place to start. You can contact them today to get a quote started.

Business Security Systems And How It Affects Your Commercial Insurance Policy

The integrity of the agents and staffer at Integra Insurance Services is a bedrock of how we do business and how we treat your business. We hope that your business located in Huntington, TX or wherever it is in the greater Texas area has a slew of employees and clients that are filled with respect and integrity. While we are certain that we share this hope, we both know that unfortunately that is not always the case.

The Right Security System is Everything

False Claims

The amount of fraudulent claims against insurance companies continues to be on the rise. Amounts soar into the millions concerning false claims of slip and falls on business property. Having a security system in place that includes cameras can easily identify the fraudulent claims against your business.

Theft of Services or Products

Appropriately placed cameras can be a major deterrent against crime on your business property. In additions security systems can sound silent alerts to you when a theft has been initiated that could possibly prevent the full commission of the crime. There are a multitude of savvy systems on the market to help ensure you are able to keep your business safe and retain your profit margin.

Insurance Discounts

Speaking with an agent today regarding insurance rate discounts your company may be eligible for if you have a security system in place at your business is a worthwhile pursuit. Not only can you save against fraudulent claims and theft your policy rate may be lower because you have preventative measures in place for protection. 

Stop by our offices at Integra Insurance Services located in Huntington, TX to further discuss how we can work together to ensure that your business has the best insurance protection.  

The Basics of Business Owner Policies

Business owners need to make sure their investment is covered from all angles. A Business Owner Policy (BOP) combines the most popular commercial insurance coverage options into one convenient package. Integra Insurance Services in Huntington, TX can help customize a policy for your business. 

Commercial Property

These policies protect your real estate, buildings, and equipment. There are 3 types of commercial property policies offered in the state of Texas.

  • Basic. Covers common perils, like damage from violent weather or fire.
  • Broad. Covers damage from water, structural collapse, sprinkler malfunction, and weather related damage, in addition to common perils.
  • Special Form. Covers damage from most sources. Anything not covered is spelled out in the policy.

Business Interruption

These policies pay when you need to close due to unforeseen circumstances. Different policies may cover:

  • Business income (pre-tax net profit)
  • Extra expenses involved in resuming operations after a catastrophe
  • Lost income due to temporary government restrictions, such as during a police incident

Commercial Vehicle

Protects your fleet and service vehicles.

Liability

General liability policies cover costs associated with injury or damage your business is legally found liable for. Per state law, all businesses in the Huntington TX area must have general liability coverage.

What Might Not Be Covered

Floods, earthquakes, acts of war or terrorism, nuclear disaster, insect or vermin infestations, and deterioration are not included in commercial property coverage. The insurance experts at Integra Insurance Services can help you customize a package that addresses any potential hazards based on your location and industry.

Crime coverage pays damages in the event of theft, robbery, forgery, and related acts that result in loss of profit. An additional policy, or endorsement, is usually needed.

Are you sure your business has all the coverage it needs? The experts at Integra Insurance Services can help you customize the perfect package for your business in the Huntington, TX area. Contact us today for a policy review.

The Key To Protecting Your Business is Commercial Insurance

As a small business owner, you know that everything you do has a monetary value: from the time you spend talking to customers and clients, from turning your office lights on and off. One of the important things to fully understand when owning a business is risk management. This is where a solid commercial insurance package can help you out.

Risk happens every time you open your front doors in your business. A customer could slip and fall on your premises. A fire could break out in your break room. Accidents can and do happened. The time you spend having to deal with these kinds of issues is the time you are not making money for your company.

Commercial insurance has several different levels of coverage depending on what you need for your particular type of business. Coverage that a storefront business would need is much different than what an office-based business needs. If you run a home-based business, but use a company vehicle, you will need different coverage than if you ran a restaurant.

No matter what kind of insurance needs you have, insurance coverage is designed to protect you and your assets in times of trouble. 

Contact your local Integra Insurance Services agent today if you are a small business owner. They can help you understand the different types of policies and options available for your business. They can give you quotes and help you figure out what kind of policy will fit your budget. 

Integra Insurance Services is just an email or phone call away. You can contact them toll-free at 1-800-655-2159 and get the most up to date information on commercial insurance at competitive rates.

5 Ways Commercial Insurance Can Keep Your Business Alive

Your business should be able to handle whatever may come its way, but unfortunately many owners don’t realize that they may be going the repair process alone if certain events occur. Depending on your plan, you may face more difficulty than you could have potentially imagined if you haven’t purchased the right policy. Here are 5 ways commercial insurance can keep your business alive.

1. Setting You Up

Along with the major scenarios, buying comprehensive coverage sets you up for success. You won’t have to check the weather in fear every morning if you aren’t covered for specific phenomena.

2. Serving Your Customers

Your customers will certainly understand if your business befalls an unfortunate event outside your control, but they may not understand if you have to be out for months due to it. Commercial insurance gives you the means to put everything right quickly.

3. Focusing You on What’s Important

Commercial insurance means you keep track of your equipment and inventory, and can ensure you don’t make an investment that ends up going to waste.

4. Saving You Money At the Right Time

If you do need to make a claim, that’s the worst time to see your money start to fly out the door. It’s not just financially hard, but emotionally hard to bear that burden. Having a partner to call means you’ll have more motivation to do what needs to be done to get your business running again.

5. Giving You Piece of Mind

Being prepared gives you confidence, which is definitely needed to keep a business alive. Integra Insurance Services serves Huntington, TX, so you can get the policy that best meets your needs. Give us a call today for more information or for a quote.

 

4 Common Small Business Risks to Avoid

Owning a small business can be both immensely rewarding and incredibly challenging. While having much more freedom than a corporation is fantastic, it can also be tough to address some of the less pleasant issues that come along with working for yourself.

Here are four common small business risks to know, plan for, and/or avoid.

Risk #1: Damage to Property

Think about all the things that your small business owns. Whether it is a retail location full of inventory or tools associated with a lawn care company, chances are there is a fair amount of commercial property associated with running your firm. Now consider what you would do if those items were destroyed in a fire, damaged in a weather incident, vandalized, or stolen. Would your business be able to operate smoothly? Would your company have the capital to repair or replace the items? This is a risk that every business owner should address fully.

Risk #2: Employee Injury

Another small business risk to avoid is employee injury. The moment you decide to hire that first worker or add to your staff, you take the chance that something could happen to that person while on the job. Help minimize the probability of an incident by properly training all employees in proper safety procedures. Furthermore, make sure you have adequate worker’s compensation coverage in the event of an unavoidable accident.

Risk #3: Liability

In today’s society, it is very common for companies to get sued for instances where they are liable. Whether you make a particular product or provide a service, there is always added risk of a claim by a customer or other party. Instances of liability can often vary wildly, making it really hard to reduce the chance of something happening or avoiding an incident altogether. Instead, it is important to protect yourself against the unexpected with proper insurance coverage rather than assuming that your business is completely free from risk.

Risk #4: Business Interruption

Business interruption is another risk for small business owners to consider. What would you do if your company could not operate due to a damaged building, loss of equipment, or other unavoidable circumstances? Avoid financial hardship by addressing the issue ahead of time and having a solid plan in place.

Of course, having the right insurance coverage ahead of time can help protect you against these risks. For more information or to help determine what type of policy best suits your small business, please contact our knowledgeable team at Integra Insurance Services today.