Business Insurance Austin TX
Commercial and Business Insurance Information
Protecting your business from unnecessary expenses resulting from an accident or loss can be a challenge. At AmeriAgency, we provide detailed advice to business owners in Austin and throughout the state of Texas. Some of the products we offer.
As a business owner, you need the same types of auto insurance coverage you use in your business as you do for a car used for personal travel: liability, collision and full medical payments (known as personal injury protection in some states), and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the company, make sure the company’s name appears on the policy as the “principal insured” instead of your name. This will avoid possible confusion if you have to file a claim or if a claim is filed against you.
Whether you need to buy a business or a commercial auto insurance policy will depend on the type of driving you do. A good business or commercial insurance agent will ask you many details about how you use the vehicles in your business, who will drive them, and whether employees, if any, are likely to drive their own vehicles for your business.
Although the main coverages are the same, a commercial insurance policy for your vehicle differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.
Commercial Real Estate Coverage:
Like your home, the physical property used to operate your business must be covered against damage caused by fires, storms and other unforeseen events. A commercial property policy can provide protection for the physical structure of your business building, the stock of products sold by your business, or the equipment that is key to your operations. Even if you lease your business space from someone else, it is important to add commercial property coverage to protect equipment and products not covered by your landlord’s policy.
If you have a personal liability policy, there is generally a business related liability exclusion. Make sure you have enough liability coverage for automobiles.
Unfortunately for every business owner, the chances of being sued have increased dramatically in the last decade. General Liability insurance can prevent a lawsuit from becoming a financial disaster by providing financial protection in the event your business is sued or held legally responsible for any injury or damage.
General Liability pays for losses arising from actual or alleged bodily injury, property damage or personal injury on your business premises or arising from your operations. Hartford’s liability programs extend far beyond the provisions of typical policies, with broader coverage and greater limits in more than 30 areas.
Wide Range of General Liability Protection
- Bodily injuries, including the cost of care, loss of services, and restitution for any death resulting from an injury.
- Coverage of property damage for physical damage to the property of others or loss of use of that property.
- Products-Completed Operations provides liability protection (damages and legal expenses up to the limit of your policy) if an injury ever resulted from something your company did or a service your company provided.
- Product Liability is a more specialized product liability insurance that protects your company against claims for product related injuries or accidents.
- Contractual liability extends to any liability you may assume by entering into a variety of contracts.
Other coverages include: Reasonable use of force; borrowed equipment; liability for alcoholic beverages; vehicles not owned by you (such as airplanes and boats); fire, lightning or explosion damage; protection against water damage; protection against water damage; legal defense costs; medical payments; personal injury; advertising damage; and specialized liability protection for certain types of businesses.
Workers’ compensation laws were created to ensure that employees who are injured on the job receive fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control financial risks for employers, as many states limit the amount an injured employee can recover from an employer.
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