COMMERCIAL AND SMALL BUSINESS INSURANCE

At Lifelong Insurance, we pride ourselves on delivering custom Business Insurance solutions that are tailor made for your Texas business.

Lifelong Insurance provides risk management and business insurance solutions to a variety of industries ranging from commercial property landlords, and home builders, to churches, restaurants, and home based businesses.

Business Auto, Property and Liability Coverage

Texas business owners need to choose from a variety of coverage options that protect different areas of their venture. The appropriate choices and levels of coverage will be different and unique for every company. Some of these include:

• Commercial Property Insurance – This covers your buildings and other structures, as well as the contents of those buildings.
• Commercial Auto Insurance – This provides protection for vehicles owned by your business, or for vehicles driven for business purposes that are not owned by your business.
• Commercial General Liability Insurance – This protects your business assets in the event of a lawsuit.
• Professional Liability Insurance – This provides protection for businesses that provide professional services, such as accountants, lawyers and more.
• Bonds – This provides performance guarantees for the services you provide.
• Workers Compensation Insurance – This offers financial protection should an employee get injured or sick while on the job.
• Employee Benefits – This provides an essential way to help attract and retain quality employees, and to help keep your employees healthy and financially secure.

Insuring a Home-Based business

Whether you’re operating a part-time, full-time or seasonal business from your home, you’ll want to thoroughly think about your risks and insurance needs. Starting a business– even at home– can be a challenging venture, and getting the correct insurance can give a financial safety net and peace of mind.

Your insurance choices should, in part, be based on the type of business you operate. If you’re a sole practitioner home-based bookkeeper, you’ll have very different insurance needs than your neighbor who runs a childcare business. When considering insurance for your business, here are some questions to ask yourself:

• What type of business do I run? What are the potential risks faced by your type of business?
• What is the value of my business property? Do you have expensive equipment, such as video cameras or commercial printers ? Do you stock valuable business inventory, such as gemstones?
• Do contractors or clients visit my business at my home?
• Do I use my car or truck or other vehicles in the course of my business operations?
• Does my business store customers’ personal and financial info on a laptop or through a cloud computing service?

The answers to these questions will direct which types of insurance coverage to buy– and how much coverage you’ll need. For your home-based company, the main types of insurance to consider include the following:

Property and Liability Insurance

Depending on the nature of your home-based business, you’ll need insurance to protect the value of your business property from loss due to theft, fire or other insured perils. Options for property and liability insurance for home-based businesses include:

• Adding an “endorsement” to your homeowners policy
• Stand-alone home-based business insurance policies
• A Business Owners Policy– or BOP– which combines several types of coverage

Business Vehicle Insurance.

Your personal auto insurance may provide coverage for limited business use of your car. But if your business owns vehicles or your personal vehicle is mostly used for business purposes, you’ll need business auto insurance.

Workers Compensation Insurance.

You’ll want to strongly consider purchasing workers compensation insurance to cover costs if an employee is hurt on the job if you have employees. Workers compensation insurance provides wage replacement and medical benefits to employees hurt in the course of work, in exchange for giving up the right to sue the employer.

Other types of insurance may be suitable for your home-based business. We can help you evaluate your needs and select insurance to meet your budget.

Give us a call today and let Lifelong Insurance work for you and your small business insurance needs.