In Texas, all business owners must acquire insurance coverage to protect their investments. These investments could range from real property to automobiles. They must also acquire coverage for certain liabilities that are probable when operating a business. The following are the different types of Commercial Insurance in Austin TX that is available to business owners.
Property Coverage for the Location
Property coverage protects against natural disasters, fires, and criminal acts that cause damage. The policy pays for the repairs or replacement of the property. The owner can also file claims for items that are stored inside the property if they are damaged or stolen. The replacement opportunities for these items is based on an appraised value or through the terms of the policy.
General or Global Liability Coverage
General or global liability coverage is presented to lower the impact of a lawsuit or other legal claim against the company itself. The coverage provides a settlement for lawsuits when they are completed successfully for the plaintiff. The coverage may also provide funds to avoid a lawsuit and provide a client with compensation for projected losses. This includes instances of a breach of contract. Click here to know more.
Health Care Plans for Workers
Health care plans are also available for workers. Typically, business owners acquire group-rate coverage for their employees. They pay a portion of the premiums to make the coverage more affordable for the workers. This may include dental, vision care, and disability coverage for these workers.
Workers Compensation Coverage
Workers compensation coverage pays for any injuries sustained while the worker performs their job duties. They receive full coverage for medical treatment for the injuries and may acquire supplemental coverage if it is a long-term condition. They also acquire monetary payments to replace their wages based on a rate of 60%.
In Texas, company owners must acquire coverage to protect against losses and liabilities. These policies protect the company from serious financial losses that could equate to the loss of their business. This includes property coverage as well. Business owners who need Commercial Insurance in Austin TX contact Perdue Insurance Group for a free quote or to start policies today.
