The type of commercial insurance coverage needed is different depending on the kind of property and its use. For example, commercial property that is used for a retail store needs a different type of insurance than commercial property used for a food establishment. There are also differences between insurance for apartment buildings and condominium complexes.

The agents at Paragon Independent Insurance Agency serving Plano, TX understand these special needs.

Commercial Property Coverage for Retail Operations

Retail operations are unique because they typically have lots of customer flow. There is a need for additional security efforts and insurance in the case of shoplifting in such stores. There is also a need to have insurance for slip and fall accidents, which are common in such environments.

Fast Food Service

In the fast food business, the insurance needs to protect the customer while physically at the premises and to protect the customer from contamination or illness contracted from the food being served. Many fast food retailers have been hit with major lawsuits based on the quality (or lack thereof) of the food being served. Insurance coverage for such key issues is important.

Insurance Assessment Mitigates Risk

Insurance risk includes what happens on site at the store. It also includes what happens before and after products come into the store. Product liability extends to when the products leave the store to be used by consumers. A comprehensive insurance coverage plan takes all of these factors into account and checks the insurance coverage that currently exists to look for areas where there are “gaps” in insurance coverage to fill those gaps.

Commercial Rental Property

Commercial insurance is important for rental properties. Owners buy it as a form of property insurance to protect their structures and property from damage while renting out their property.

What to do now?

Contact the good folks today at Paragon Independent Insurance Agency serving Plano, TX for a free evaluation of all commercial insurance needs. Insurance coverage delivered with a smile.

The question of whether or not you need commercial insurance from Paragon Independent Insurance Agency comes down to a number of factors. If we’re talking about a Plano, TX business that serves as your primary income, chances are you will need commercial insurance, even if you’re self-employed. But there are some exceptions, and some industries don’t always demand it.

The question of commercial insurance for a freelancer in Plano, TX, for instance, comes down to what kind of freelancing you’re doing and what kind of risks you’re taking on. If you’re visiting people’s homes to repair garage doors or install fences or something along these lines, then there is a lot of risks that you will be taking on. On the other hand, if it’s just you and a laptop, designing websites, and nobody is visiting you at your home office, then commercial insurance might be a low priority as long as your contract exempts you from certain risks.

Running an Etsy shop or an eBay store to help cover groceries might not demand commercial insurance. The question to consider when looking at a business by scale is: If something happened and it cost you the entire business, to what extent would you be in financial jeopardy? Would you have investors to pay back, would you be without income? If the worst that would happen is you’d have to put in a few extra hours at your main job, then commercial insurance might not be a necessity just yet.

When considering whether to call Paragon Independent Insurance Agency for a commercial policy, the questions to consider are whether you can afford to lose what you’ve built and whether you can afford the risks. If the answer to both questions is no, then you’re going to need commercial insurance.

Today’s world is characterized by risk and uncertainty. Businesses are constantly exposed to disruptions, theft and property damage, risks that will lead to huge financial losses if they occurred. The good news is that reliable commercial insurance can help to protect your business, allowing you to focus on growing it. Paragon Independent Insurance Agency offers a variety of commercial insurance options for business owners in Plano, TX.

In order to protect your employees

Employees are some of the important assets of any business. Regardless of the type of activities your business engages in, it is very important to protect your employees against injuries sustained in the workplace. One of the facets of commercial insurance is Worker’s Compensation policy. The policy will cover the medical bills and lost wages in the event that your employees are injured while on duty.

To protect you from legal action

With the numerous possible claims that businesses are open to, it is necessary that business owners plan for such claims through commercial insurance. Even when the claims are not founded, they are likely to result in very expensive court processes. Commercial insurance will provide professional liability coverage and general liability coverage to ensure that your business runs smoothly at all times.

To protect your property

Loss, theft and damage to business property will not only disrupt business operations but also result in financial loss. This type of insurance policy is designed to provide coverage for the building that houses your business, office equipment and furniture as well as the stock. In the event that the insured risk occurs, your insurance company will respond by helping you to get back on your feet again.

Before buying a policy in Plano, TX, it would be important to contact Paragon Independent Insurance Agency for a quote. This will help you to plan effectively for the coverage as well as for your business.

Running a business inside your own home comes with all sorts of perks. You don’t need to pay additional rent for office space. You can write some of the costs of running a business off of your income taxes, and your commute to work is nothing. However, just because you run a business out of your home does not mean you don’t need commercial insurance. At Paragon Independent Insurance Agency, we want to make sure you and your business is properly protected, whether you live in Plano, TX or the nearby area. 

General Liability Insurance

This is a kind of insurance every business owner should have, including home business owners. This form of coverage protects you should a product or service you offer cause an injury or damage a customer’s property. Without this coverage, the customer may be able to go after you and, because your business is out of your house, your home. 

Property Insurance

This form of coverage isn’t for the actual house, but instead, it is for equipment, computers, and inventory. If someone breaks in and steals your stored up inventory, home owner’s insurance may not cover it if it is connected with a business venture. So property insurance can protect the goods associated with running the business. 

Commercial Auto Insurance

Do you drive your vehicle for business purposes? If so, you may need commercial auto insurance. Should you ever find yourself involved in an accident while working, regular auto insurance may not cover this. 

Protecting your business is crucial, so investing in commercial insurance is an important part of running your company. Knowing the right commercial insurance options may be difficult on your own, but here at Paragon Independent Insurance Agency, we want to make sure your Plano, TX business is protected properly.