When it comes to owning a small business, you’ll want to be sure that you stay abreast of any changes to state law that impact the type of insurance you are required to have. In Texas, businesses are only required to have one type of insurance – commercial auto. Any business-owned vehicle is required to have commercial auto insurance with at least minimum liability coverage. Unlike many other states, Texas does not require businesses to have workers’ compensation insurance, which helps pay for the medical bills and lost wages from missing work associated with an injury or illness sustained on the job. Although Texas does not require workers’ compensation insurance, you’ll likely want to make the investment and have a policy. If you don’t and an employee is injured or becomes ill because of their job, you’ll be on the hook for all their medical bills, which could quickly bankrupt a company. 

In addition to commercial auto insurance and workers’ compensation insurance, West Texas Insurance Agency in Amarillo, TX can assist in educating you on additional policies that may provide extra peace of mind for you and your business. For example, cyber liability insurance helps companies recover from costly cyber attacks by providing coverage to pay for regulatory fines, customer notifications, and ransom extortion payments.

For more information on commercial insurance, reach out to the friendly and knowledgeable team at the West Texas Insurance Agency. We’ll take time to learn about your business so that we can recommend a personalized insurance policy that best protects your business while staying within budget. Give us a call today or stop by our office in Amarillo, TX to learn more. 

 

Retail stores have unique business needs that make specialized commercial insurance essential for their protection. At West Texas Insurance Agency, we understand this type of insurance and can help Amarillo, TX, residents understand the different options available for their needs. 

What Commercial Insurance Protection Retail Shops Need

Retail shops include businesses like jewelry shops, florists, clothing stores, food stores, pet supply providers, liquor stores, e-commerce sites, and any other store that sells a variety of different goods directly to consumers. As a result, they operate differently than other types of businesses. 

For example, you’ll need specialized policies that cover your goods and supplies from theft. When you lose items in a retail shop, you basically lose your livelihood. Thankfully, an excellent commercial policy can protect you by paying for goods and even equipment replacement needs. 

However, retail shops also need standard commercial insurance coverage options to find financial loss. These coverage options include protection for general liability and business owner’s policies. In addition, they help to protect against things like lawsuits and the structure of your retail shop. 

Retail shops may also need workers’ compensation policies to protect their many employees and commercial auto policies if they use any delivery vehicles. In this way, you can get the comprehensive protection that you need without paying a lot of money in the process. This benefit can help you reinvest back into your business with the money you save.

Let Us Help You 

Our insurance experts at West Texas Insurance Agency understand retail commercial insurance policies and will provide Amarillo, TX, residents with the help that they need to avoid long-term complications. Reach out to us today to learn more about your many coverage options. We’ll do what we can to help provide you with the policy you need.

Like many things in life, your commercial insurance isn’t something you buy and forget. West Texas Insurance Agency of Amarillo, TX, recommends reviewing your business insurance at least every year. This way, you will be paying for the right amount of premiums, and you will make the claim process smooth.

But there are the things that shouldn’t wait for a year to lapse so that you update your insurance policy. If the below happens, talk to your insurance agent ASAP.

Downsizing or expanding your business

Are you moving to a smaller office? Or perhaps you are adding the number of stores? Either way, you need to inform your commercial insurance agent. Changes in your business size affect your insurance premium, and it’s essential to inform your insurer to make the necessary adjustments.

Change of location

Moving your business to a new state? Inform your insurer to ensure they have a presence in your new location. Plus, a new location comes with a new set of risks that must be factored in your policy.

Changes in workforce

If you have invested in worker’s comp insurance, you need to update your insurer whenever there are additions or reductions in your workforce.

Purchases or disposal of equipment

It’s normal for a business to purchase new equipment. It’s equally standard for a business to get rid of old equipment, perhaps to invest in equipment with better technology. Whatever the reason, you need to inform your insurance agent to ensure that the assets covered are the ones you own.

Conversion of personal vehicle to business car

If you want to use your vehicle to run commercial errands, you need to upgrade from personal auto insurance to commercial auto insurance.

Buy commercial insurance today!

Do you need more information on commercial insurance? Ready to buy commercial insurance for your Amarillo, TX business? Please consider West Texas Insurance Agency for all your business insurance solutions.

Any responsible business owner understands the purpose and importance of commercial insurance. It helps protect your business, you as a business owner, and the employees you hire. If you are planning to purchase commercial insurance, but you need more information about it, West Texas Insurance Agency serving Amarillo, TX prepared a list of those who definitely benefit from this type of insurance:

Business Owners With Liability Concerns

There are some businesses and business owners who are more prone to liability lawsuits. Therefore, having commercial insurance for them is more important than for others. Almost all commercial insurance policies provide at least some level of liability protection – protection of the business assets when a business owner is being sued and protection of personal assets of a business owner when their business is being sued. 

Business Owners Who Hire Employees

Even though it is not mandatory in Texas to carry workers’ compensation, it is still recommended to have it because this type of commercial coverage protects both business owners and their employees from financial losses if a workplace injury occurs. 

Business Owners With Their Own Commercial Properties

Business owners with their own business properties will also benefit from business insurance. Commercial insurance covers commercial buildings, as well as all the assets and personal belongings of business owners stored inside. This means that if something happens to their building or stuff, insurance will pay for its repair or replacement. 

West Texas Insurance Agency – Find Commercial Insurance You Need

If you are a business owner from Amarillo, TX or any other nearby town or area, you should consider getting commercial insurance that will protect you and your business. West Texas Insurance Agency is an insurance company that is ready to assist you and help you find the perfect policy. If you want to discuss the insurance options available or have any questions about the insurance policies we offer, do not hesitate to call us. 

When you are in the Amarillo, TX area and are looking for a good career choice, starting your own business is a great option to consider. Anyone that is going to start a small business in this part of the state will have a lot of opportunities to be successful. At the same time, there are risks that should be mitigated. A commercial insurance plan will offer the protection needed to mitigate these risks. 

Protection for Assets

A form of coverage that is helpful to have and comes with commercial insurance is commercial asset protection. Businesses in Texas are going to need to purchase assets to grow and operate their business. If you have a proper commercial insurance plan in place, it will offer support in the event your assets need to be repaired or replaced due to damage or theft.

Liability Mitigation

Business owners will always need to ensure they have liability risk mitigation strategies in place. If you are going to operate any type of company, there is going to be a risk that you could be named in a liability lawsuit. As these damages can be significant in some situations, finding ways to reduce this risk is important. With commercial insurance, you can get the support you need to reduce this risk.  

As you are looking to protect your Amarillo, TX area business, it continues to be important that you get the right insurance coverage. The team with West Texas Insurance Agency can help you build a plan that will offer the right support for your organization. West Texas Insurance Agency is able to do this by providing guidance to ensure you are aware of your insurance needs and options and how you can best protect your business. 

Running a business comes with various challenges. You’ll face numerous risks that threaten the existence of your investment. For this reason, you need to safeguard it against expected and unexpected problems that may occur. There’s no way you can avoid these business risks entirely; you’ve to adopt effective business protection measures. 

One of the prudent decisions you can make is purchasing commercial insurance. It will protect your business from common risks that can bring down a company you’ve struggled to build for so many years. 

So, what are the business risks that you can minimize by purchasing commercial insurance? Our experts at West Texas Insurance Agency are here to help Amarillo, TX residents understand this topic. 

Property Damage

A good risk management program must consider how to deal with property damage. Hurricanes, fires, and floods can damage the physical structure of a business. The damage caused will disrupt the daily operations of your business, which will lead to lost profits. 

What should you do? Getting commercial insurance coverage is the first line of defense against property damage— however, not just any coverage. You need to ensure that the policy covers property damage and everything is insured to the right value. 

Human Capital

If you’ve employees, you’re probably facing multiple risks. When carrying out their mandates, employees get involved in all manner of accidents, which leave them injured or ill. When such situations arise, your business will spend a lot of money covering losses arising from the employee’s absence from work. You’ll also need to pay for medical expenses arising from the accident. 

What should you do? Commercial insurance coverage keeps you safe from the risks that come with employing workers. Workers’ compensation is included in most commercial insurance policies, which means you will be mitigating risks that can bring down your business.

Manage Risk with Commercial Insurance

As you can tell, there’s a direct correlation between risk management and business insurance. Risk management is all about managing the perils that may bring your business down, and insurance is right there as the first line of defense.

Do not miss out on these benefits of commercial insurance in risk management. Contact our West Texas Insurance Agency agents in Amarillo, TX, for immediate assistance.

For over 20 years, West Texas Insurance Agency has served the Amarillo, TX community through offering residents multiple types of insurance policies. We strive to help our clients find the coverage they need to minimize risks, while also providing excellent customer service.

Winter Variables That May Impact Your Commercial Insurance Policy

As an Amarillo, TX business owner, you have to manage multiple responsibilities as you operate your business. Commercial insurance is an important resource that helps you protect the long term future of your business. Generally, the policy will cover your business during potential liability disputes involving your employees and customers. The policy also covers any damage to your business’ inventory and physical property. As the season’s change and the weather starts to get colder, your business must adjust. Here are some winter variables that may impact your business.

If you have a commercial auto policy for your business, you may need to alter it to prepare for winter. Winter driving conditions are especially dangerous. Liability coverage will protect your vehicle if you are involved in a collision. Your vehicle will also be protected if falling ice or tree branches damage it.

Make sure that you shovel the snow regularly around your business and put salt down to avoid potential liability disputes. Liability coverage will protect you if one of your customers suffers an injury on the property. Worker’s compensation will cover your business if one of your employees gets injured in the workplace.

Potential power outages are another potential variable that you’ll have to deal with during winter. Make sure that you have a generator in the event of a power outage so that your business can continue to function properly.

Consult With West Texas Insurance Agency

Visit our website to learn more information about commercial insurance.

While business owners in Texas are not required by law to carry workers’ compensation insurance or business liability insurance, it sure is a good idea. You’ve worked hard to open your business and invested tons of time and money into it so you want it to be successful and very well protected. The best way to protect your business is through obtaining a commercial insurance policy

Workers’ Compensation Insurance

Workers’ compensation insurance will cover your employees if they become injured or ill while working for you on their job. This part of your commercial insurance policy covers their medical expenses and lost wages while they are recovering.

Commercial Business Liability Insurance

Liability insurance for your business will protect you if a person is injured while visiting your business or due to something related to your business. For example, if you own a tree trimming service and a branch falls from a tree and hits someone in the head, this part of your policy will cover the medical bills for that person. It also covers property damage so if one of your workers drops a tree on someone’s house and there’s damage to the house, this part of your policy will pay for that. Commercial liability insurance will also help pay for any damages caused by a personal or advertising injury, such as slander or libel.

Other Coverage Options

Commercial property insurance will cover your business if there is a break-in or a theft that occurs along with your business becoming damaged or destroyed by a fire, vandalism, or natural disasters, such as a tornado or hail storm.

To create the best commercial insurance policy for your business, you need to enlist the assistance of an experienced commercial insurance agent. The agents at the West Texas Insurance Agency in Amarillo, TX will help you create the best policy for you and your situation. Call for an appointment today!

Owning a business can be a great idea for someone that is willing to work hard and has a great idea. If you are looking for a place to start a business, coming to the Amarillo, TX area is a great option. When you do come here, there are many local benefits and amenities that can help you to be successful. To ensure that your business is protected, you should get a commercial insurance policy as it provides a range of different forms of insurance coverage. 

Asset Protection

One of the important forms of coverage that you will receive with your commercial insurance policy is asset protection. Starting any type of business will always come with the need to purchase commercial assets. Due to the investment that goes into this purchase, you need to protect it as well as possible. A great way to do this is by getting a commercial insurance policy as it will provide coverage to repair or replace the asset in a situation that results in a loss.

Liability Protection

One serious risk that all business owners need to take into consideration is their risk of liability. No matter what you sell or provide, there is going to be a chance that you could cause an injury to another party. If this occurs, you could face serious liability risk. Your commercial insurance policy will provide you with protection against this risk. 

When you are a business owner in the Amarillo, TX area, getting into the right insurance policy is very important. The team at West Texas Insurance Agency can help you to do that. When you call the West Texas Insurance Agency you will receive the guidance and support that you need. This can include helping you better understand your needs and options. 

The state of Texas is a very large area. There are millions of people that call it home. There are also a lot of small business owners that have inventory that they do not want to see destroyed. A major loss of inventory could mean the end of the company. There are some things that you can do in order to protect your company from financial ruin. The best way is to purchase a commercial insurance policy that covers your inventory in Amarillo, TX. 

How a Commercial Insurance Policy Protects Your Inventory

The last thing you want to see happen is for your business to suffer a loss on its inventory. Without an insurance policy to pay for any losses, you would have to pay for it all yourself. Here are some ways that a commercial policy will cover your inventory.

• This kind of policy will protect your inventory from theft losses. Theft is one of the biggest dangers to small businesses. Your policy would pay to replace anything that was taken.
• Water is very damaging to property and inventory. It is the one peril that can feed other issues such as mold or rot. On the policy you can endorse certain coverage helps to protect against water damage.
• A small internal fire can damage your inventory. Fire coverage also takes care of smoke damage and other related issues. 

If you are a small business owner and have questions about protecting your inventory, then please call us at West Texas Insurance Agency today. We can answer all of your questions and provide solutions to your insurance needs. Do not wait for the next loss to happen. By then, it is too late to protect yourself and the business from financial ruin in the Amarillo, TX area.