In Texas, business owners purchase insurance policies to protect their investments more fully. Commercial policies are applied to various assets owned by the company. The assets include but aren’t limited to the commercial property, automobiles, products, and supplies stored on a covered property. A local insurer explains what to expect from Business Insurance in Houston TX.
Protection for the Property
The business property is protected under the policy, and funds are available for repairs and the complete replacement of the commercial property. Policies cover fires, natural disasters, some types of flooding, vandalism, and break-ins. If the property is destroyed completely, the policy offers either the market value or the true replacement value.
Protection for the Business Inventory
The business inventory includes a wide array of products sold to customers. Insurance coverage includes a predetermined amount that goes toward replacing any lost inventory. High-value items are covered more fully when the business owner purchases a rider. An appraised value applies to the items when a rider insures them.
Coverage for Common Liabilities
General and global liability policies help with financial losses due to liabilities, such as product liabilities and premises liabilities. Coverage assists with financial settlements when lawsuits are filed against the company. Claims adjusters assist the business owner by providing settlement offers to litigants if they settle out of court. Liability coverage applies to a breach of contract, injuries, and defamation claims.
Commercial Auto Insurance
Commercial auto insurance covers accidents and damages when an employee or the business owner is involved in an accident. Select policies cover the replacement of products inside the vehicle if they become damaged. The auto insurance covers the accident if the driver was operating the vehicle for business purposes only. If the owner wants to use the vehicle for personal purposes, the owner must purchase a non-commercial auto policy.
In Texas, business owners purchase commercial policies to cover financial losses. Property damage or the complete loss of the commercial property is covered under commercial property insurance. The same policy offers replacement of the company’s inventory if it is damaged or stolen. Business owners who want to learn more about Business Insurance in Houston TX can contact Insurance Offices Texas or Click here right now.
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