Allen Business Insurance

Your Complete Guide to Allen, TX, Business Insurance

(And where to find coverage at a competitive price)

Allen, Texas, is named one of the 50 safest cities in America and the second-best place to live in the US. If you own a business here, you're in an A-rated town. 

The most common industries are science, electronics, and finance, giving it a solid foundation. If you're a business owner in this economically robust city, you'll need an independent insurance agent. They can find the best coverage and rates for your business. Connect on TrustedChoice.com to get started.

Liability Insurance for Your Allen, TX, Business

Your business needs protection from all the what-ifs that may arise. A commercial general liability policy or CGL is an excellent place to start. Your CGL will cover things like slips and falls, slander, and advertising injury. You can also add products and completed operations coverage to protect your work after the job is done. 

A CGL is usually a requirement for any business owner purchasing or leasing a building. The best plan is a comprehensive plan, and your Allen independent agent can help. 

Cyber Liability Insurance in Allen, TX

Unless you work solely on paper, your business likely needs cyber liability insurance. If your company does anything online or through email, it's vulnerable to cyberattacks. Let's look at the numbers:

  • Number of US identity records exposed in 2019: 164.68 million
  • Number of US data breaches in 2019: 1,473
  • Identity thefts reported in TX in 2019: 75,533

Unfortunately, there's no place to hide when you're on the internet. That's why it's vital to be proactive and make sure your system is monitored and protected. If your business does get hacked and sensitive data is leaked, a cyber liability policy can help. Cyber liability insurance will provide cybercrime coverage and help pay for your consumers' lawsuit for exposing their personal data. Speak with your independent agent on this kind of policy for your business.

Property Insurance for Your Allen, TX, Business

Damage to your commercial property can happen, especially in a state that is high on the disaster scale. In Allen, TX, you have a few different weather-related claims that could damage your commercial building. The most frequent claims made in TX are:

You'll need a commercial property insurance policy that can replace or repair your building completely for these risk exposures. Most policies will cover these natural disasters, excluding flood damage. Flooding is a separate policy that needs to be purchased.

Flood insurance for your commercial property:

Flood made the list of most frequent claims, making it a good idea to get coverage. Flood insurance will cover for any flood damage that may occur to your commercial building or belongings. Your local agent can pull an elevation certificate to find out your flood zone. Then they can quote with FEMA approved carriers and present the best option.

Business Interruption Insurance and Your Allen, TX, Business

If your business has a loss that shuts down your operations, then business interruption coverage is needed. The threat of not paying your bills because your business has halted is a real possibility.

Whether you're an online business or have a brick and mortar, a natural disaster or liability loss could pump your company's brakes. When you have business interruption insurance, it will help pay for the bills that still exist. This policy will provide coverage to pay your regular business expenses like a mortgage, rent, insurance, and payroll.

Discuss options with your Allen, TX, independent agent to get the coverage your business needs today.

Workers' Compensation Insurance for Your Allen, TX, Employees

There are additional risks associated with having employees, and one of them is injury. If one of your staff members gets injured or ill due to their job, your company is liable. When you have workers' compensation insurance, it will cover your exposure by paying for expenses. The common costs that workers' compensation picks up are:

  • Employee medical expenses
  • Employee lost wages
  • Employee disability insurance

Your workers' compensation carrier will also help get your employee back to work as soon as possible. If they are well enough to do a light-duty job, they will be assigned a different task until they can work up to their regular duties. According to statistics, 70% of workers who stay injured or ill for 12 weeks will collect disability permanently. This could be a huge cost out of your pocket. Talk with your agent to discuss workers' compensation options and rehabilitation programs.

Employee Benefits for Businesses in Allen, TX

If you are looking to add value to your current employees, then employee benefits can help. They can show your staff that you care by assisting them in paying for life's most significant expenses. Let's take a look at the facts:

  • Employer health insurance contribution in the US as of 2018: 77%
  • Average annual health premiums for family employee coverage in 2019: $20,576
  • Average annual health premiums for single employee coverage in 2019: $7,188

Your Allen, TX, business can cover costs like health insurance, life insurance, and disability insurance. It can also pay for perks like gym memberships or coffee. You can get as creative as you like. Contact your Allen independent agent to go over employee benefits options.

Why Work with an Independent Agent in Allen, TX

Business insurance for your American dream can be another item on your to-do list. If you have the help of an agent, you can get coverage for the best price in town.

An independent insurance agent can quote with multiple carriers at once, finding the best policies for a competitive price. Go to TrustedChoice.com and connect with a local independent agent for your business.  

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