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.

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.