The Plano, TX area has been one of the fastest-growing areas of the state for the past decade. Those that are in this area could find it is a great place to start and run a business. If you are going to start a business in this area of the state, you need to insure it as well as you can. A commercial insurance plan could be needed for a few different reasons. 

Coverage Will Protect Business

A reason that you should get a commercial plan for your business in Texas is that it can protect the organization. Insurance for a business protects a business in many ways. One form of coverage you will receive is liability support, which will be helpful if you are ever named liable in an accident. You will also benefit by having insurance protection that will cover your commercial assets if they are damaged or stolen.

Coverage is Required

You should also get a commercial plan because it is a requirement. There are many situations in which a business in this state will need to carry insurance. If your business has taken out a loan or raised outside capital, the investor or lender will likely want you to be fully insured. Further, having insurance could be required for you to provide services to certain commercial clients. 

Business owners that operate out of the Plano, TX area are going to have a lot of opportunities for success. To ensure that your business is covered, getting commercial insurance is important. The team with Paragon Independent Insurance Agency can help any business owner build and maintain a commercial insurance plan. When you call Paragon Independent Insurance Agency, you can learn a lot about your different options to ensure you remain fully covered and protected going forward. 

A Plano, TX business owner will find that the local market and economy is strong and offers a lot of opportunities to be successful. While this can be a great place to run a business, Plano business owners do need to make sure that they are mitigating business risks as well as they can. A great way that this can be done is by getting a full commercial insurance plan. A business will want to have this coverage for a few reasons. 

Coverage Protects Company Assets

One of the reasons that you will want to have commercial insurance is to ensure that your company’s assets are properly covered. A business will have to own a variety of assets to ensure that it can operate and grow. With a commercial insurance plan, you will have coverage for these assets in case they are stolen or damaged in any type of accident.

Coverage Offers Liability Protection

You will also want to have a commercial insurance plan to ensure that you are covered for liability risk. Businesses of all sizes are going to regularly take on commercial liability risk. As a liability claim can threaten the financial viability of a company, mitigating this risk is important. With commercial insurance, you can receive coverage for this risk. 

In the Plano, TX area, a small business can benefit a lot by having proper insurance coverage. As you are looking for a commercial insurance plan here, you will want to ensure that you are properly covered and protected, and working with Paragon Independent Insurance Agency can help. The team with Paragon Independent Insurance Agency will offer you the support you need to ensure you understand all your options and needs so you can pick a new insurance plan. 

Small businesses come in all sizes in Plano, TX. A business taking in six figures a year may technically be a small business, but so is a business that earns you just a few hundred bucks for groceries here and there. So when are you ready for commercial insurance?

Different businesses have different insurance needs, but it generally comes down to one thing:

Liability

The big question here: If something happens, is it going to come out of your pocket?

If you run a small eShop, you may have some protection through the platform you use. If you’re only earning a little extra money on items and services with no major liability concerns, you might not need to worry about it.

But at a certain point, you’ll likely cross a threshold where you have too much at risk to leave your business uninsured, and that’s when you should call Paragon Independent Insurance Agency to see about getting covered.

It’s nice to have your inventory and your equipment covered by commercial insurance, but the main reason you want to be covered is so that you won’t be left paying thousands of dollars in damages out of pocket if someone is injured on your premises or suffers losses that have to do with your product or service.

The question of when you’ve crossed that threshold, that’s a little trickier, and it varies from business to business. Some people like to buy commercial insurance as soon as they can afford it while still turning a profit, but your mileage may vary. So if you have any questions, get in touch with Paragon Independent Insurance Agency to see if your small business in Plano, TX is ready to get protected.

Paragon Independent Insurance Agency offers coverage to the Plano, TX community, as well as the surrounding areas. We help our clients find the coverage they need to avoid a significant loss. We have working relationships with multiple carriers throughout Texas.

Errors To Avoid While Researching Workers Compensation

As a Plano, TX business owner, it’s important that you take care of your investment. Commercial insurance helps alleviate some of the stress involved with operating your business on a day-to-day basis. The policy covers any property or inventory damage. You are also covered if your business suffers an emergency and has to cease operations for a few days. Liability coverage is also important. If one of your customers suffers an accidental injury while visiting your business, liability coverage protects you from potentially having serious losses. Another important part of your liability coverage is workers’ compensation. Worker’s compensation protects your business and your employees if there is an employee injury in the workplace. While you are figuring out which type of worker’s compensation policy is the right fit for your business, avoid some of these common errors.

Failing To Thoroughly Research The Policy

Keep in mind that worker’s compensation policies cover more than just your employee’s injuries. The policy also covers your employee’s rehabilitation as they prepare to re-enter the workforce.

Additional Insured

Many businesses make the mistake of trying to put additional insured coverage on their worker’s compensation policies. Additional insured is a better fit for traditional liability coverage. You cannot put additional insured on your worker’s compensation policy because you are seeking to directly cover your employees if they get injured on the job.

Paragon Independent Insurance Agency Will Help You Protect Your Business

Visit our website today to learn more information about commercial insurance.