Understanding Common Commercial Insurance Risks

Some entrepreneurs in Granbury, TX have avoided commercial insurance policies for many years to cut operational expenses. However, as All-Tex Insurance has realized that those who have avoided such policies do not fully understand the commercial risks they face in their business operations. Here are some of the possible commercial insurance risks that should compel you to have business insurance for your company. 

Employee Injuries

Every business has workers who play a central role in helping the company to handle its operations. Multiple risks face such employees as they work, and any injury could have devastating impacts on the business. Without commercial insurance to cover employee injuries, the company will have to foot the medical bills and associated living expenses. 

Loss of Income

Many uncertainties and risks can easily expose a company to significant loss of income. Sometimes such problems as power outages can lead to extended downtimes that expose a company to multiple losses for weeks. Commercial insurance can help replace all the lost income during business downtime, which means a company will not suffer losses in its business operations. 

Advertisement Lawsuits

Companies advertising their products and services are vulnerable to possible lawsuits due to breach of trademarks, copyright issues, and sometimes defamation claims. These issues are likely to happen at any given time, which means that a company will be losing huge sums of money if there is no advertising liability coverage. Commercial insurance is essential in covering for advertisement lawsuits, thereby helping a company avoid huge financial losses. 

As a prominent entrepreneur in Granbury, TX, there are many commercial risks that your business faces. Having commercial insurance coverage from All-Tex Insurance protects you from such risks and ensures continuity in your entrepreneurship. Contact our office to get started with a quote.

What Are Home Insurance Riders?

You already know that you need home insurance to protect yourself financially. But did you know that standard coverage might not be enough? For those with unique situations, there is an option to extend your policy to meet your needs. Called a rider, it is a good way to tailor your coverage appropriately.

Not sure what this means? Thankfully, our team at All-Tex Insurance has you covered. Here’s what you need to know about home insurance riders.

What is a Rider on a Homeowners Insurance Policy?

A home insurance rider is essentially an amendment to your basic property policy. It allows you to extend your coverage for a specific reason, such as owning items that are more expensive than usual or having certain circumstances that go beyond the typical home in your area.

For example, if you have a large jewelry collection or own several antique rifles, you might need riders to ensure they’re covered in the event of a loss. Those with electronics, computers, or other items with a higher than normal value should have a scheduled personal property rider on their home policy.

Other situations where riders are useful include coverage for identity theft, building code upgrades after a total loss, or even business property coverage if you work from home. Each carrier offers different riders, so check with your agent to see which ones are available for your policy.

Why You Need to Talk to Your Agent About Getting a Rider

Your insurance needs are unique. By speaking directly to your agent, you can find out which riders apply to your specific situation. From there, they’ll be able to tell you what ones are worth adding and which ones you need to skip.

Are you looking for quality home insurance coverage in Granbury, TX? Please contact our All-Tex Insurance team to receive a no-obligation quote.

Who should buy umbrella insurance

When it comes to umbrella insurance, it is not insurance to cover your umbrella. It is insurance to protect your assets. What exactly does that mean? It means when you have assets; you are at risk of being sued. It is just that simple. Being involved in legal action can cost a bundle of money. If you don’t have a lot of ready money, you could be forced to sell your assets or even have your wages assigned. At All-Tex Insurance in Granbury, TX, we have 20 years of experience helping customers find perfect insurance products. 

Umbrella insurance is an additional layer of protection that goes into effect when your primary policy liability has reached its maximum. To purchase umbrella insurance, you must already have a policy with liability converge. You don’t need to be a homeowner. Renter’s insurance, auto insurance, boat, condo, and motorcycle insurance all have liability coverage. If you have commercial insurance, chances are you have liability coverage as well. 

With your primary policy, you likely won’t have a very high level of liability protection. Every state has its own required minimum limit on auto liability. Most are $50,000 or less. That won’t go very far if you are in a serious accident and are at fault. If you haven’t checked it recently, you should check what you have for a limit on your liability coverage. Most umbrella policies start at one million dollars and go up from there. With legal cost and a judgment against you, this won’t seem like an outrageous insurance amount to carry at a very affordable rate. Basically, if you have any assets, you should buy umbrella insurance. 

If you are ready to discuss umbrella insurance, All-Tex Insurance in Granbury, TX is here to help out.  Contact us and let us give you a quote. 

Why should I get auto insurance in Texas?

The Granbury, TX area is a great place for anyone to live. At the same time, those who are here will find that they need to have a car to get around town. As you are in the market for a new car, you should also look for insurance. There are many reasons people here need this coverage. 

Insurance is a Legal Requirement

It would be best to get auto insurance when you are in Texas because it is a legal requirement. When you are a car owner and driver in the state, you will have liability rules and regulations that need to be met. When you are looking for a new policy, you need to ensure that you meet these basic requirements. If you do not have this coverage, you could face some serious penalties.

Insurance Protects Your Vehicle

As you are shopping for a car, you will find that the purchase price can be significant. Due to this significant investment and the fact that your car is a necessity, you will want to ensure that you are properly protected with auto insurance. When you get a full policy, it will include coverage that will help you replace or repair the car following an accident, theft, or other forms of damage. 

Getting a new auto insurance policy in Texas is always a good idea. When you are in the market for your next policy, it would be a good idea for you to call the team at All-Tex Insurance. Those in the Granbury, TX area and work with All-Tex Insurance will get the support needed to choose the best policy for their personal situation. 

Three situations where your commercial insurance needs change

One of the most important things you need to do regarding your commercial insurance needs is to reevaluate them over time. Your company’s insurance needs can change as your company changes. 

At All-Tex Insurance, we provide commercial insurance. The following are three situations where your commercial insurance needs change in Granbury, TX.

Changing your commercial facility location

Property insurance coverage is an important aspect of a commercial insurance policy. If you change your facility location or purchase a new commercial facility, you may need to update your commercial property coverage. 

Are your facilities covered with commercial property coverage? If not, you need to update your policy. You should also know that your insurance provider will need to evaluate your company’s new property acquisitions if you want to enjoy commercial coverage on them. 

Developing new products

Whenever your company sells a product, you are subject to various liabilities. Even before you develop a new product, you should research the insurance needs that selling this product will entail. 

That’s why it’s important to reevaluate your company’s liability coverage needs whenever you develop and begin selling new products. 

Beginning to use a vehicle for company operations.

Business owners need to understand the need for commercial auto coverage. You cannot use personal auto coverage when you are using a vehicle for business operations.

Have you recently started using a vehicle to help you with deliveries, service appointments, or other business functions? If so, you need to make sure that your commercial insurance includes commercial auto coverage. 

Let us know if you are looking for commercial insurance coverage in Granbury, TX. We’ll help you find an appropriate policy for your changing needs at All-Tex Insurance.

What is a Home Insurance Deductible?

You know you need homeowners insurance to help protect your family from the unthinkable. But are you just going with the standard deductible amount, and do you know what this important part of your policy actually does? Thankfully, our All-Tex Insurance team is here to help. Here’s what you need to know about your home insurance deductible and why it is so important.

What is a Home Insurance Deductible?

A home insurance deductible is simply an agreement between you and the insurance carrier stating that you’re willing to pay for a set amount of damages during a claim before your coverage takes over and handles the rest. It is pretty much the same concept you have on your auto insurance and similar to your health insurance policy.

What is the Best Deductible for Home Insurance in Texas?

There’s really no right answer to this question. What you decide is an appropriate deductible really depends on what you would be able to come up with out-of-pocket easily if your home were damaged in a catastrophic incident, like a tornado or a fire. For some people, this is only a thousand dollars or less. Others feel comfortable with five or ten thousand, thanks to a solid savings account. Choose the figure that best meets your needs.

Does Your Deductible Amount Raise or Lower Your Home Insurance Premiums?

In most cases, having a higher deductible on your Granbury, TX home insurance policy can lower your annual premium. But, again, this means that you are taking on the responsibility of coming up with those funds out-of-pocket if your home is damaged in an incident.

Ready to learn more about home insurance deductibles and why they matter? Please get in touch with our All-Tex Insurance team in Granbury, TX to schedule a no-obligation policy review appointment.

What does umbrella insurance cover

When the weather outside is stormy, having an umbrella can make you feel safer and more protected. An umbrella insurance policy can give you that same feeling but what it covers are your assets. An umbrella policy is what can, in the most straightforward language, be referred to as excess liability coverage. It is not a policy that you buy on its own. You need to have another primary policy with liability coverage that an umbrella supplements. At All-Tex Insurance in Granbury, TX, we are locally owned and operated. With 20 years of experience, we can provide our customers with the personal service they deserve. 

Some of the policies that can be supplemented with an excess liability policy are home, condo, renters, and auto. If legal action is brought against you and results in a judgment, you may have to pay a settlement. If that judgment is more than your primary policy, the remainder and any legal expenses are your responsibility. That is where an umbrella policy comes into action. When the limit on your primary policy is met, the umbrella will take over and pay expenses up to the limit on the umbrella policy. Most umbrella policies offer excess liability from between one and five million dollars.

Given the amount that judgments can run these days, you need to have this kind of protection for peace of mind. Without an umbrella policy, you could be forced to sell your assets, and your future wages could be attached. This is not something that makes for a peaceful night’s sleep. 

At All-Tex Insurance in Granbury, TX, we are independent agents who work for our customers, not just one carrier. We can check with multiple carriers to find the best deals on coverage and cost. Give our office a call to make an appointment for a no-obligation quote. 

How Much Liability Coverage Do I Need

Every state – except for New Hampshire – requires that motorists carry liability insurance. For those that aren’t in the know, liability auto coverage helps pay for damage that you cause to another person or property. Your auto insurance policy will distinguish between both bodily injury liability – the amount paid to a third party for any medical bills or damages related to an injury – and property damage liability. Keep in mind that when you purchase an auto insurance policy, you will be able to choose how much liability coverage you want with the general rule of thumb of the more, the better. If your maximum bodily injury liability coverage is $100,000, then any amount over that becomes your responsibility to pay.

Since liability insurance is designed to protect your finances when you are responsible for an accident, it is imperative to have enough to cover your net worth. Therefore, start by determining your net worth, which includes any property you own, investment accounts, retirement savings, college savings, savings accounts, and more. Once you total those figures, you’ll have a better idea of how much money you are worth on paper, which is what you stand to lose if you are ever sued in an accident. While it can be tempting to choose the minimum required liability coverage because this will be the cheapest option, it may not be the best choice for every individual. Consequently, working with a reputable insurance agency can help ensure that your needs are being met.

At All-Tex Insurance in Granbury, TX, our team of auto insurance professionals knows the industry inside and out. As a result, we are the perfect agency to help you find the right policy for your needs. By taking the time to learn about our customers and educate them on the available policies, we help ensure your complete satisfaction. 

When does a Texas business need to get commercial insurance?

The state of Texas can be a great place to start a business. When you are looking to start or grow a company in the Granbury, TX area, there are many different important factors to consider. One factor that needs to be considered is your need for insurance. There are several reasons why a business in Texas will need a commercial insurance policy. 

When Looking to Protect Major Assets

One situation when a Texas business will need to get a commercial insurance policy is when they want to protect their significant assets. Many companies today will need to acquire major equipment and other capital items. These assets end up being the core of an organization. Due to this, they need to be protected with insurance. A full commercial insurance policy will provide protection for these assets that a business needs.

When Taking out a Loan or Raising Capital

To get a business off the ground in Texas, many companies will look to raise capital through a loan or investors. If you are going to raise capital in this fashion, you will undoubtedly be required to have a commercial insurance policy. When you have this form of insurance, it will protect your business in many different ways, which ultimately protects the capital providers’ investment. 

As you are shopping for a commercial insurance policy in the Granbury, TX area, you should reach out to the team at All-Tex Insurance. The insurance professionals at All-Tex Insurance know how meaningful a commercial insurance policy is for a small business. The team here can answer any of the questions that you have and provide a full consultation. Based on this assessment, they can also help you get into a policy that will give you and your company with the right protection. 

Does My Homeowners Insurance Cover My Dog?

Considering that there are approximately 78 million pet dogs in the United States, it’s pretty clear that we love our animal companions. We consider our dogs to be family and are passionate about them on a personal level. So, when it comes to the topic of whether our furry, four-footed friends are covered on our homeowners’ insurance policy, we don’t take the matter lightly. 

Dog Breed Insurance Risks 

Insurance companies like the All-Tex Insurance are businesses and, as such, must evaluate the insurance coverage risks between groups who share similar risks or behavioral characteristics for which there are sufficient data and history. For example, when assessing risk for motor vehicle coverage, younger drivers in Granbury, TX, who have a record of speeding tickets, are involved in more vehicle collisions per mile driven than any other age group. While it’s true that the vast majority of younger drivers will never be involved in an accident or end up filing an insurance claim, it’s almost impossible to determine which specific driver in that high-risk group won’t behave as the group statistics and data predict. 

But My Dog is a Good Dog! 

This same type of risk factor that teen drivers face holds for dogs, as well. While your pooch may have perfect manners, be polite and non-aggressive, and couldn’t harm a fly, there may be other dogs like them in high-risk groups. Unfortunately, approximately 4.5 million people are bitten by dogs per year. Of the 885,000 incidents that caused an injury that requires medical attention, almost 50% of those victims are children, according to the CDC. We know, through data, studies, and experience, that certain groups or dog breeds produce more severe loss results in a biting event. 

Can My Dog Be Covered in My Homeowners’ Insurance Policy? 

At the All-Tex Insurance in Granbury, TX, we understand that not all dog groups and breeds will present precisely the same risks of others simply because of their breed. Other mitigating factors can influence a dog’s behavior. For more information about how whether your furry friend can be covered in your homeowners’ policy, give us a call today!