Denton is home to the headquarters of such companies as Peterbilt Motors Company and Sally Beauty Holdings, Inc. It is also the location of several small, locally-owned businesses that are thriving in this vibrant Texas city. If you own a small company in the Denton area, you have likely invested a lot of time, money and effort into it. It's a smart strategy to protect this investment by securing your business with a top-rate Denton, TX business insurance policy.
When you are shopping for business insurance, an independent agent in the Trusted Choice® network can help you assess your company’s unique business coverage needs. Using their relationships with several different insurance companies, these agents can easily provide a variety of competitively-priced policies for you to compare. Find a Trusted Choice member agent in your area today to get more information and a selection of Denton commercial insurance quotes.
2007 Small Businesses Based in Denton, TX
- Total number of firms: 8.496
- Firms owned by women: 27.7%
- Firms owned by Hispanics: 8.3%
Is Denton Commercial Insurance Necessary?
If you have employees in your business, you'll be required by the Texas state government to carry insurance to cover worker’s compensation, disability and unemployment benefits. If you use a company car or have a fleet of vehicles, you will need a commercial vehicle policy that meets state minimums for liability coverage. Most other business insurance options are optional, but are good investments in your bottom line.
In some cases, if you rent the space where your business is located or if you have taken out a business loan, you may be required by the landlord or your lender to have commercial insurance coverage. Nevertheless, if you are the sole proprietor of a business and you made a large initial investment in money, time or effort, carrying commercial insurance is in your best interest.
2007 Revenues Generated by Businesses Based in Denton, TX
- Manufacturers’ shipments: $3.1 billion
- Merchant wholesaler sales: $1.3 billion
- Retail sales: $7.9 billion
- Retail sales per capita: $14,575
- Accommodation and food service sales: $208 million
Some new business owners believe that because they set their business up as an LLC or a corporation, they are automatically protected against liability charges. However, these corporate business structures are designed merely as a way to protect the personal assets of business owners from liability expenses incurred against the company. The business itself remains vulnerable.
Only a Denton business insurance policy can fully protect your commercial endeavor from liability charges as well as unexpected damages and monetary losses.
Industries with the Most Small-Businesses in Texas
- Professional, scientific and technical firms: 54,700 businesses
- Healthcare and social assistance: 48,300 businesses
- Retail trade: 44,300 businesses
- Construction: 38,300 businesses
- Accommodation and food services: 31,400 businesses
- Wholesale trade: 24,500 businesses
What Does Denton Business Insurance Cover?
Businesses can vary greatly by size, industry and the potential risks they face. Business insurance policies therefore offer several different coverage options so you are able to customize your insurance policy to meet your businesses’ unique coverage needs.
For example, a retail store that rents space in the Golden Triangle Mall may not have to worry about insuring an actual building, but it will need to cover inventory, fixtures, and supplies. A large wholesale warehouse may have land, buildings and inventory to cover. Some businesses, like the North Texas State Fair or Jazz Festival, may even need specialty insurance to cover large groups of people at an outdoor event.
A typical Denton business insurance policy will offer the following types of coverage:
- Liability coverage: This insurance protects your business from the costs associated with liability lawsuits. Some instances where you may be held liable for damages include slip-and-fall injuries at your place of business or a product malfunction, malpractice or negligence claim from a customer or client. Liability coverage is also designed to provide compensation for the court costs and legal fees associated with any covered events.
- Property coverage: Property coverage is particularly important if you have a storefront operation because your profits will be dependent on being open to the public. This insurance protects your business from loss or damage to the building as well as any commercial property inside. Covered events include fires, falling objects, theft and vandalism. It is also designed to cover damages caused by most weather events. Coverage for flood damage is rarely included, so a separate flood insurance policy will be necessary if you want insurance for rising waters.
- Loss of income coverage: This insurance provides compensation if you are unable to operate your business for an extended period of time due to damages or losses caused by a covered event. This coverage is designed to provide your business with the income necessary to pay monthly expenses and employee salaries so that your company can stay afloat financially until you can reopen.
- Other coverage: There are other coverage options available that can be tailored to meet each industry’s specific needs. These include:
- Additional coverage for very expensive and custom equipment
- Extra liability coverage for contractors who do work on clients’ property
- Fidelity insurance, which is necessary to protect your business from losses if an employee embezzles funds or performs other illegal activities while employed by you
Find the Best Denton Business Insurance Policy
There are different factors you will need to consider about your coverage needs before you start comparison-shopping, and an independent agent in the Trusted Choice member agent can help you do this. These agents can also save you time and money by doing the comparison shopping for you. Because they have relationships with a variety of different insurance providers, member agents can quickly obtain several business insurance policies that meet your coverage needs.
Insurance agents in the Trusted Choice network can be found in more than 27,000 locations nationwide, and many have offices right here in Denton. Contact one of these agents today to get more information and to obtain a variety of competitively-priced Denton commercial insurance quotes.