In Texas, businesses purchase a variety of policies to protect their company and all investments. The policies define terms that could prove highly beneficial in certain circumstances. The policies provide compensation based on losses experienced by the company. A local agent can explain how Commercial Insurances in Austin TX work for the business owners.
Global and General Liability
Global and general liability coverage offer protection against lawsuits and other legal claims. This could include circumstances linked to a breach of contract, personal injuries, or fraudulent activities of a business partner. The insurance coverage provides a settlement offer for plaintiffs in these legal matters. This could prevent the company from suffering a serious financial loss.
Property Insurance for the Business Location
The property insurance coverage pays for any structural damage sustained during a covered event. This includes adverse weather conditions, fires, and criminal acts. The policy provides funds to repair any damage sustained completely. If the property is a total loss, the policy provides the owner with compensation to purchase a new business location. The value assigned to the property is based on either its market value or a true replacement value.
Worker’s Compensation Coverage
Worker’s compensation coverage pays for any accidents that occur while a worker is performing job duties. This can expand to different work sites based on the type of company. It also provides monetary benefits for workers who are facing a longer recovery time. This prevents them from losing extensive wages.
Group Rate Health Plans
A group rate health plan provides workers with affordable health insurance. The premiums are based on the total number of enrollments and the percentage paid by the employer. The package can include dental, vision, and disability coverage. The employer can also provide access to further insurance options such as life insurance as well.
In Texas, businesses need clear solutions for protecting the company and its property. The insurance packages available for business owners can protect them from financial losses based on the business type. Business owners who want to review Commercial Insurances in Austin TX can contact Perdue Insurance Group today for free quotes and details.