Owning a business in Amarillo, TX comes with all the challenges and stress that owning a business anywhere comes with. One thing that should not be causing you any worry is your commercial insurance. If you own a business you need to have commercial insurance but it is not one size fits all which is why the staff at West Texas Insurance Agency is there to help you to put together a policy that gives you everything you need to save your business while not making you pay for coverage you will never use. 

Commercial insurance needs to be tailored to your particular business. Many different types of coverage available and you probably won’t need them all.  No point in having commercial vehicle insurance if you don’t have a vehicle that you use for business. Texas does not require private employers to have workers compensation but in not doing so you leave yourself open to lawsuits from an employee who is injured on the job. You also may have trouble retaining employees. It is much less stressful to cover your employees and protect yourself. 

Property insurance is important coverage for a business of any size. Whether you own the building or are just renting it, you can have your business devastated by damage to the building which in terms damages your equipment, inventory, and machinery. By carrying property insurance you can repair or replace anything that is damaged by a covered hazard. 

Liability insurance is one of the most important parts of any commercial insurance policy. Let’s face it, the world loves to bring legal action against people and businesses. If someone is injured while visiting your business or by one of your products you could be facing expensive litigation. Liability insurance helps you to get through it with your business intact. 

If you are an Amarillo, TX business owner, stop in or give us a call at West Texas Insurance Agency and discuss your commercial insurance needs with us. 

 

Even in Texas the first hints of the leaves turning and the evenings cooling are here. We want to help you keep your business protected year-round, here at West Texas Insurance Agency. This is why we have a list of considerations for increased commercial insurance this holiday season. We serve Amarillo, TX and the rest of the vast state with quality insurance services. 

Reasons It May Be Prudential to Upgrade or Change Your Commercial Insurance Before The Coming Holiday Season.

• Many businesses find that their foot traffic increases during the holiday season. This is not just due to holiday shopping, it also has to do with more people being out of school and on vacation to visit family or new places. It may be a good idea to fill any gaps in your insurance before the increase in risk.
• If you are a business that shuts down and goes out of town during the holiday seasons then it is a good idea to assess your commercial policy to make sure you are fully covered during this time. 
• If you run a business that relies on a lot of driving in a company vehicle it is important to know that not only is traffic heavier during this time, accident rates increase due to a variety of factors as well. Check your Commercial vehicle insurance going in so you are protected. 

Contact us at West Texas Insurance Agency to learn more or to upgrade your commercial, home, or life insurance today. We serve Amarillo, TX with quality insurance services and can provide you a quote for an upgrade or a whole new policy today. 

Commercial Insurance and Home-Based Businesses

At West Texas Insurance Agency of Amarillo, TX, we talk to a lot of people who think that their homeowners’ insurance covers their home business. That’s not accurate. Your home-based business still needs commercial insurance.

Homeowners’ insurance covers normal home activity and your liability from it. It does not include business activity or business equipment. You still need to insure it like a conventional company.

You need commercial insurance designed for a home-based business. It provides you with property damage coverage, liability coverage and covers your attorney costs and fees. Other items that this insurance covers for your home-based business include libel or negligence claims and computer hacks or IP theft. While those last two items might not sound like something you need to worry about, hackers actually target small businesses first because they’re least likely to have protected in place.

While your first thought as to why to get it might be covering losses in cases of a fire or a tornado, it’s more common to need the liability coverage. Once you start meeting with people at your home office or have deliveries made to it, you open yourself to liability. If someone falls and hurts themselves, you’re liable for their injuries. Your commercial insurance kicks in to pay for the medical bills of the injured person. If they die due to an injury sustained on your property, it covers the funeral expenses and can cover a court settlement. Trying to pay those types of items out-of-pocket could close your business.

Call or visit West Texas Insurance Agency of Amarillo, TX to learn more about commercial insurance for your home-based business. We can help you find the coverage you need to protect your business and investment.

Having the right amount of commercial insurance coverage to protect your Amarillo, TX business is just as important as having the right type of insurance. Too little coverage can leave your business exposed to unforeseen liabilities while having too much coverage can hurt your business’s bottom line. West Texas Insurance Agency understands the importance of having commercial insurance coverage that matches your business’s varied needs. The following shows how you can assess your coverage needs and give your business the protection it deserves.

Factors That Affect Coverage

The amount of commercial insurance coverage you’ll need for your business depends on a variety of factors:

• Type of business – Certain industries may require more coverage and higher limits than others due to increased liabilities.
• Customer base – Knowing who your customers are can give you an idea of your coverage needs.
• Business location – Where your business is located and how it’s housed can also impact your coverage needs.
• Number of employees – More employees means higher liability limits for your business.
• Employee experience – Your coverage needs must account for your employees’ skill sets and experience, from seasoned veterans to brand-new hires.
• Corporate status – Being a sole proprietor or part of a partnership can also affect your coverage needs.

Keep in mind that your commercial insurance needs aren’t set in stone. As your business changes, so will the amount of coverage it’ll need to stay protected. You can also use insurance endorsements to boost your current coverage and gain protection against a variety of unique and uncommon liabilities.

You can’t predict everything that’ll happen to your Amarillo, TX business, but the above can help you assess how much commercial insurance coverage you’ll need. Don’t forget that the agents at West Texas Insurance Agency can help you choose the right coverage amounts that fit your business. Contact us today to learn more.

Commercial insurance requirements are not the same in all states, and names for coverage options vary from one insurance company to the other. Depending on your type of business, West Texas Insurance Agency can offer you some additional specialized coverage options. Here is a list of some of the common types of commercial insurance policies that you should consider.

Property Insurance

The policy covers damages to personal or real property in Amarillo, TX. For example, the policy can pay for fire damage to your business premises. You can also access additional coverages under this policy such as debris removal insurance, island marine insurance, fidelity bonds, tenant’s insurance, and crime insurance.

Liability Insurance

The policy pays for any injuries that you cause to other people. In other words, the policy covers the cost of defending and resolving a personal injury claim that has been filed against your business for injuries or/and property damage. There are other more specialized diversities in liability such as:

The Errors and Omissions Insurance

 This covers inadvertent acts of failures that may end up causing an injury to another person. For example, the policy will cover damages arising from a mistake such as when a notary forgets to fill out a notarization accurately.

Malpractice Insurance

It pays for damages arising from a professional’s failure to provide services according to the standards of care in a particular profession. For example, if a dentist has a slip-up that other dentist in his or her field wouldn’t have made, the malpractice insurance will pay for damages arising from the malpractice. The policy is available for doctors, architects, dentists, and other professionals.

Automobile Insurance

The policy covers cars, vans, and trucks used for business purposes. The automobile insurance policy will protect you if one of your commercial vehicles is stolen, or pay for injuries and property damages caused by one of your drivers.

For more information about these commercial insurance policies, contact our local agents in Amarillo, TX. We, at West Texas Insurance Agency, offer a wide range of commercial insurance policies that will help you protect your business.

 

For many businesses that have commercial operations in more than one location, it may be advantageous to have all the locations covered under a single insurance policy. This works for business locations that have similar operations and similar risk profiles, such as a chain of retail stores or restaurants. If the business locations do very different things, for example, if one location is for administrative work and another location is for manufacturing, then there is a need for separate insurance policies for each location.

Moreover, if a business has locations in different states, they may be insurable by a single carrier only if the insurance company and the insurance agent are licensed to do business in those states.

Contact your agent at West Texas Insurance Agency serving Amarillo, TX and the surrounding area to determine if your business would benefit from having a single insurance policy that covers more than one location.

Commercial Insurance in Texas

Texas does not have a statewide standard for commercial insurance. There is a wide variation between commercial insurance policies from different insurance carriers. Each commercial insurance policy will protect against specific risks. To understand the details of the coverage offered, discuss the insurance policy terms with your agent. You may need more than one policy to cover all the potential risks to a business that may not be covered in basic commercial insurance policies, such as windstorm damage, floods, hurricane risk, and crimes.

Contact us

When evaluating commercial insurance for a business located in Amarillo, TX, be sure to review the coverage details carefully and talk with your agent at West Texas Insurance Agency to find the coverage that is adequate for your needs. Contact us today, while these issues are on your mind, to be sure your business has sufficient coverage for all of its locations.

The recipe for a successful business might not seem complicated, but modern business owners deserve a little information. Commercial insurance is essential, and it’s becoming even more important every year. Unfortunately, the modern business world is packed with risks. To protect your business, secure comprehensive coverage, and take full advantage of your benefits, check out these five tips provided by West Texas Insurance Agency.

Tip One: Compare Quotes

As a business owner, it’s your responsibility to stay fiscally conservative. Choosing a provider is just like any other big decision: You need to consider every option before making a choice. Compare quotes, make a deductible-based comparison and shop for competitive premiums.

Tip Two: Understand Your Risks

You should assess your business’s risks, too. By establishing your risk level, you’ll be able to shop competitively. You also might be able to pay a higher deductible, saving money on annual premiums.

Tip Three: Get an Annual Checkup

As your business grows in size, so will your liabilities. The key to ongoing insurance protection is to prepare for disaster constantly. You can prepare adequately by getting an annual checkup. Have you replaced any equipment? Have you expanded your operations? Let your provider know! Your coverage might’ve been affected.

Tip Four: Consider a Business Owner’s Policy

Business owners in Amarillo, TX often purchase a business owner’s policy to save money. A business owner’s policy, or a BOP, is a comprehensive coverage package. It includes liability coverage by default, but it also offers vital plans for your business’s continual success.

Tip Five: Don’t Forget About the Homeowner’s Policy

Even if you don’t work from home, a homeowner’s policy can sweep up extra expenses not covered by a business owner’s policy. In fact, some business owners can protect their business assets via a homeowner’s policy.

If you have any questions, contact West Texas Insurance Agency today. We’re outfitted to help our Amarillo, TX policyholders thrive, and we’re always ready to offer comprehensive, protective policy options.

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.

The commercial insurance world can be very unforgiving at times since the requirements are sometimes very steep and hard to understand. Due to this reason, it is important to have an experienced commercial insurance broker on your side to guide you through the risks and coverage needs while looking for commercial coverage. At West Texas Insurance Agency in Amarillo, TX, our agents can provide the answers you need to make the correct choices when selecting a policy. Here are a few reasons as to why commercial insurance is now common around the country.

1. Liability Coverage

Everyone can make a mistake regardless of their position in society. Such errors can result in a customer or employee becoming hurt and can also lead to equipment malfunction. To ensure that your company is secure from such liability risks, it is important that you employ the following coverage measures:

• General Coverage: This will protect you from injury while you are on the company premises. 
• Product Coverage: This offers protection in case your product causes harm or becomes defective.
• Professional Coverage: This is a form of coverage which protects you in case your business is sued due to negligence, omissions, and errors which happen when you are performing your professional services.

2. Property, Vehicle, and Earnings Coverage.

Your assets and earnings need to be protected in case of an emergency or disaster which might destroy them. With the following insurance products, you will be protected from such scenarios.

• Commercial fleet and vehicle insurance
• Business interruption insurance
• Surety Bonds
• Content Insurance
• Commercial property insurance

These insurance policies are self-explanatory, but it is important to consider purchasing a business interruption insurance policy which will protect you in case your business is closed temporarily by covering the loss of earnings during that time.

3. Protects you, your partners, and other employees

Losing a key individual can be very disastrous for your business. For this reason, you should purchase life insurance for your important business associates. The following policies can offer protection to such individuals.

• Directors and officer policy
• Key person insurance
• Critical illness insurance
• Disability insurance
• Life insurance

4. Medical Coverage.

Your employees will require a health insurance plan which will play a big role when it comes to recruiting and retaining the employees. Even though this is not classified as commercial insurance, it is a great way to ensure the safety of your employees.

It is high time you visited West Texas Insurance Agency in Amarillo, TX to acquire quality commercial insurance packages and to have your questions answered. Our agents are ready to work with you and find a policy that suits your needs.