You have worked hard to get your small business established, and you need to make sure there is adequate insurance to protect that business. Everyone things of liability insurance, or fire and theft insurance, but using life insurance may also be a way to protect your assets. Agents at Allegiance Insurance Agency in Richardson, TX can help you make sure you have the coverage you need, and that you are using it to your best advantage.
Some small businesses also offer commercial life insurance as a benefit to their employees, and this can be another area to consider as yo think about your insurance needs.
Another option is with commercial life insurance on the owner, or owners, of the business. Most people want to see their business succeed even after they are gone. If you die and leave insurance behind, you can rest assured that the business can continue operating and can continue to be a success.
Many small businesses are in debt, and are paying off funds they used to get the business started in the first place. If the owner dies, that debt still has to be paid. There may be legal implications for the family if the loan was in the name of the owner instead of the business. if that owner had life insurance for that purpose, the loans could be paid off and the family would be protected.
Agents at Allegiance Insurance Agency in Richardson, TX, can help you determine the best course for protecting your business, and your family, both now and into the future. Having a policy like this can pay off loans, but it can also provide money for day to day operations. With this type of coverage you can be assured your family and business will be able to function after you are gone.
Your workers’ compensation policy is the smallest add-on to your commercial insurance plan. Yet, with its small stature compared to the others, workers’ compensation is one of the most important indemnity plans you can have for your business. A good compensation policy pays for your employee’s rehabilitation and lost wages when they become injured on the job. Your plan can also save you from a lawsuit if a worker is severely injured and unable to return to regular job duties.
Allegiance Insurance can help you find the right commercial insurance policy in Richardson, Texas.
Workers’ Compensation Is The Law
Numerous states throughout the country require business owners to obtain workers’ compensation insurance. The terms apply even if you only have one employee. You do not want to face serious fines all because you failed to obtain the right commercial insurance. Things grow even worse when an employee is injured, and you lack the proper indemnity policy to pay for their medical expenses and time away from work. You could find yourself on the receiving end of a large lawsuit from the injured laborer as well as the recipient of a hefty fine from government authorities if you neglect your legal duties to obtain and keep workers’ compensation insurance.
Assurance Protects Your Greatest Assets
You would not be able to go far in life without the hard work and dedication of your employees. Why wouldn’t you want to protect your laborers at all costs? Workers’ compensation insurance lets you provide a cushion to your workers in the instance of them encountering an injury at work. It is important to note, though, that keeping a proactively safe environment is the best way to maintain low premiums for an assurance plan.
Finding the best workers’ compensation add-on for your commercial insurance policy is mostly a matter of having the right agent. All of our specialists at Allegiance Insurance are skilled professionals who can help you protect your business in Richardson, Texas. Call us today for a quote!