What is Commercial Insurance?

Commercial insurance is commonly known as Business Owner’s Policy (BOP). It’s a type of insurance coverage that usually provides general liability and property protection to business owners. West Texas Insurance Agency’s commercial insurance is specific to Amarillo, TX, and businesses in the surrounding areas. Commercial insurance is a primary necessity for any business since it can suffer significant financial losses due to unforeseen circumstances.

Who Needs Commercial Insurance?

Commercial insurance isn’t a necessity for business owners only. The other group of individuals who must have this coverage in Amarillo, TX and surrounding areas includes any sole practitioner or firm who fulfills the conditions listed below:

• Has employees
• Has office equipment or property
• Handles client’s property or records
• Invite clients to visit their enterprise premises
• Leases space for official business purposes
• Provides company cars to employees or partners

What Does Commercial Insurance Cover?

Typically, West Texas Insurance Agency’s commercial insurance covers all the costs related to your business’ legal defense and compensates the third party if your business is found culpable of causing harm. It also includes bodily injury and property damage, personal and advertising injury, and even settles medical bills for any injuries sustained by another person as a result of them being exposed to harmful conditions related to your business.

How Can You Purchase Commercial Insurance?

You can purchase a commercial cover for your business by contacting a licensed insurance broker-agent who specializes in commercial insurance or by contacting the insurance provider directly.

What Kind of Insurance Do You Need to Buy for Your Business?

The individual risk characteristics of your business will determine the type of coverage you need to purchase. Although a broker agent may give you advice, it’s your responsibility to assess your business needs and make an informed decision on the type of insurance that will best fit your business.

Contact us today for more information regarding commercial insurance for expert advice.