The city of Lewisville, Texas, is known for its lakes and golfing. If you love the great outdoors, Lewisville won't disappoint.
When you own a business in a leisure city, the sky's the limit. The right protection through an independent insurance agent can make sure you're getting a fair price. Connect with an independent agent on TrustedChoice.com and get the insurance your business needs.
Coverage Your Commercial Property Needs in Lewisville, TX
If you own a commercial property in Lewisville, TX, you have a great asset at your disposal. It makes sense that you'd want to protect it with a commercial property policy. This insurance will provide coverage for things like storms, burglary, hurricanes, and tornadoes. It will also offer protection for your business's belongings, including furniture and inventory.
In Lewisville, flooding is on the list for top occurrences. To protect your commercial property, you'll need a separate flood policy. Your local independent agent can help find flood insurance coverage for your structure and belongings through FEMA approved carriers. Connect with your agent to find out what flood zone your property is located.
How Liability Insurance Works in Lewisville, TX
If you purchase a building or lease, the lienholder or landlord requires proof of general liability or GL coverage. Every business needs this policy, whether they have a brick-and-mortar or online business. Let's see items your GL will cover:
1.) Slip and fall incident
3.) Property damage
4.) Advertising injury
When a lawsuit gets aimed at your business, the proper coverage could mean the difference in picking up the expense or not. Your independent agent can go over other coverages that your GL will be useful for and discuss liability limits. Most liability limits start at the $1,000,000 per occurrence and $2,000,000 aggregate. Get the proper coverage for your company with your Lewisville agent.
Lewisville, TX, Business Interruption Insurance
A number of instances could render your business out of commission for a time. When this occurs, you'll need coverage to help pay for your regular business expenses. Take a look at what business interruption insurance covers:
Lewisville has a variety of natural disasters that could affect your operations. All of these are unavoidable and could put your business under without interruption insurance.
Top five natural disasters in Lewisville, TX:
Discuss coverage for these catastrophic events with your independent agent.
Will Your Lewisville Employees Need Workers' Compensation Insurance?
Statistically, an injured or ill employee is 70% more likely to go on disability when they are out of work for 12 weeks or longer. This could be a huge expense that your company would have to pay without workers' compensation insurance.
The state of Texas does not require workers' compensation coverage unless you are in the government or the construction industry. However, this doesn't mean you shouldn't have it. Workers' compensation could save your business from financial despair when an employee gets injured or ill on the job. It will help pay for things like:
- Lost wages
- Medical expenses
- Disability insurance
Speak with your local agent to see how workers' compensation will work for your Lewisville business.
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Employee Benefits Can Help Your Lewisville Business
The city of Lewisville has a population of 106,021, and one of them could be your next employee. What separates your business from another will be the value that you add. If your employee benefits package is lacking, your new hire may find a better opportunity elsewhere. Let's look at the annual health insurance premiums for an employee:
- Average annual health premiums for family employee coverage in 2019: $20,576
- Average annual health premiums for single employee coverage in 2019: $7,188
The majority of private business owners contribute something to their employees' healthcare costs. This is a large expense that could speak volumes if your company shared the bill. You can also include other coverages like life and disability insurance to entice future employees. Connect with your local agent to put together an employee benefits package that will suffice.
Cyber Protection for Your Lewisville, TX, Business
164.68 million US identities were exposed in 2019 alone. Your business is at risk every day to cyberattacks. When a predator strikes, you could be liable for any information that is stolen.
Identity theft and data breaches:
- Number of US data breaches in 2019: 1,473
- Identity thefts reported in TX in 2019: 75,533
Most business owners have zero coverage for cyber liability. That means that with each passing day, they could have a claim that's not insured. Your company's reputation is on the line when you collect sensitive data from customers. As little as an email being hacked would put your company in financial danger. Speak with your independent agent to get cyber liability quotes.
Work with a Lewisville, TX, Independent Agent
The right coverage for your business may be a daunting task. Fortunately, you have an independent insurance agent who can help unload some of that burden.
An independent agent works with multiple carriers, finding you the best coverage at a fair price. On TrustedChoice.com, you can find a Lewisville agent for all your business needs in minutes.
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