In addition to serving as the headquarters of Taylorcraft Aviation, Brownsville is home to a multitude of small, privately-owned businesses. With the Port of Brownsville located just two miles from the city center, businesses in the area have access to the Gulf Intracoastal Waterway and to an important link for trade with Mexico. If you are a business owner in this region of the country, you can protect the investment you have made in your company by securing it with a suitable Brownsville, TX business insurance policy.
Independent insurance agents in the Trusted Choice® network can assist you when you are determining your company’s unique business coverage needs. By using their relationships with several different insurance providers, these agents can easily offer, and help you compare, a variety of suitable business policies.
Texas Industries that Employ the Most People
- Healthcare and social assistance companies provide 1,280,300 jobs
- Retail trade companies provide 1,127,000 jobs
- Accommodation and food services companies provide 908,700 jobs
- Administrative support and waste management companies provide 830,000 jobs
- Manufacturing companies provide 730,600 jobs
- Professional, scientific and technical services companies provide 565,600 jobs
- Construction companies provide 539,500 jobs
Small businesses are vital to Texas’s economy. In fact, in 2008, companies with fewer than 500 employees accounted for approximately 98.7 percent of this state’s employers and provided 46.4 percent of all private-sector jobs in the state. Regardless of the industry under which your business falls, you may benefit greatly from the protection that only a Brownsville business insurance policy can offer.
The Importance of Purchasing Business Insurance
Like most states, Texas requires that all businesses with employees carry worker’s compensation and disability insurance. Businesses that use company-owned vehicles, such as for deliveries, transportation or construction, will be required to carry commercial vehicle insurance. Lastly, company owners who have taken out business loans are often required by their lenders to carry a business insurance policy while they are still paying on their loan.
On the other hand, if your business is a sole-proprietorship and you do not have any employees, as is the case with 83 percent of all of Texas’s small businesses, you are not required to carry any insurance at all. Regardless of whether or not it is required, it is a good idea to invest in the future of your business by protecting it with a solid Brownsville business insurance policy.
Cameron County’s Small-Business Owners, 2007
- There were a total of 30,137 firms in Cameron County in 2007
- The percentage owned by Hispanics and Latino-Americans: 61.9%
- The percentage owned by women: 28.5%
- The percentage owned by Asian-Americans: 1.7%
- The percentage owned by African-Americans: 1.1%
Do not fall victim to the misconception that because your company is set up as a corporation or an LLC that it is protected against liability-related financial losses. These corporate business structures are designed only as a means of protecting business owners’ personal assets if liability charges should be levied against the companies they own. Without the added protection of a commercial insurance policy, the company itself remains vulnerable.
Cameron County Non-Farm Business Statistics, 2007
- Merchant wholesaler sales totaled $1.517 billion
- Retail sales totaled $3.912 billion
- Retail sales per capita came to $10,221
- Accommodation and food services sales totaled $503 million
Small businesses drive the economy in this state. As a business owner in the Brownsville area, you can take pride in the contribution you are making. Be sure to keep your business profitable by protecting it with a comprehensive business insurance policy.
What Does Brownsville Commercial Insurance Cover?
There are many different types of businesses in Texas, and they vary greatly in terms of size, industry and inherent risks. Business insurance policies come with many different coverage options so that you can customize your policy to meet your business’s specific needs. Your Brownsville business insurance policy may provide coverage for the following:
- General, professional or product liability issues: General liability covers injuries that may occur at your place of business. Professional liability covers charges of malpractice or negligence in provision. Product liability covers your business if products that it produces or sells are badly designed or created. Depending on your industry, you may need just one or two of these liability coverage types. Larger and more diverse businesses may need all three.
- Loss or damage caused by weather, fire, vandalism and theft: While ideal for nearly all business types, companies that have invested in expensive equipment and materials and those that own the building in which they operate are most in need of this coverage.
- Lost income because of a covered event: If a covered disaster, such as a fire or tornado, forces you to temporarily cease business operations while repairs are made, this coverage will provide your company with an income sufficient to pay your monthly expenses and your staff.
Business owners should keep in mind that flood insurance is not included with most commercial insurance policies. This means that even if you purchase coverage for lost income, you will not qualify to receive compensation if your business is temporarily closed due to flood damage. You will need to supplement your Brownsville business insurance policy with a commercial flood insurance policy in order to receive full coverage.
Review a Variety of Brownsville Commercial Insurance Quotes
There are many different variables to consider with business insurance policies, and comparison shopping can be time-consuming and frustrating. Because of this, you are likely to benefit from the assistance of an insurance professional in the Trusted Choice network. These agents can help you assess your business’s unique risks and coverage needs and they can ensure that you are getting all the coverage you need while not purchasing any of the coverage you do not.
There are more than 22,000 independent insurance agents in the Trusted Choice network, and many of them can be found right here in Brownsville. It is therefore easy to find a conveniently-located member agent and set up an obligation-free meeting.