Odessa, Texas, is known for its cowboys and oil rigs. Home to the popular book and TV series, Friday Night Lights, Odessa is the real thing.
If you're lucky enough to own a business in this iconic city, you'll want protection. A local independent insurance agent can find the best coverage in town. Connect with an agent in minutes on TrustedChoice.com.
Business Interruption Insurance for Your Odessa, TX, Company
In Odessa, you have to worry about natural disasters that could put your operations on hold. Business interruption insurance can help you keep the lights on by paying for your regular expenses. Take a look at the most common claims that could occur in Odessa, TX:
If a tornado comes roaring through Odessa and demolishes your business, interruption insurance would apply. Some of the regular expenses it can cover are:
- Rent or mortgage payments
Texas has had 254 federally declared disasters since 1953. This makes Odessa higher on the risk scale. Chat with your independent agent on business interruption insurance for your Odessa company.
Workers' Compensation in Odessa, TX
Your business needs protection in the event an employee gets injured or ill on the job. When medical expenses and lost wages pile up, your company is liable. To avoid a hefty lawsuit, get workers' compensation insurance.
Workers' compensation insurance: Workers' compensation will pay for medical expenses, lost wages, and disability insurance for an employee who gets injured or ill while on the job. Policy limits look like this:
- $100,000 per occurrence for bodily injury
- $100,000 per employee for bodily injury by disease
- $500,000 policy limit for bodily injury by disease
Texas is one of the only states that require workers' compensation coverage if you work in government or construction only. While you may not be mandated to carry coverage, its necessary to avoid a lawsuit.
Connect with your Odessa independent agent to discuss workers' compensation coverage options.
Cyber Liability Insurance for Your Odessa Business
Your business could be at risk for a cyberattack every day. When you do as little as open your email, online predators could strike. A cyber liability policy can by your ticket to protecting yourself from a lawsuit. Let's look at the numbers:
- Number of US data breaches in 2019: 1,473
- Identity thefts reported in Texas in 2019: 73,553
Texas has a lot of incidents and your business could be one of them. If you have cyber liability insurance, it will cover legal defense if a customer sues because of stolen data. It can also help pay for additional expenses that may arise from a claim. Speak with your independent agent about cyber insurance today.
Commercial Property Insurance in Odessa, TX
Your commercial property policy will provide insurance for the structure itself and any belongings, like furniture or inventory.
Property insurance will provide coverage for any natural disaster, theft, or fire. Flood damage is a different policy altogether and needs separate insurance. Take a look at why your commercial property needs a flood policy:
- Your commercial property is assigned a flood zone
- Every location is at risk for flooding no matter the flood zone
- Odessa has flooding as a common occurrence
- Your flood zone will determine how much your flood policy costs
Your Odessa agent can run FEMA approved flood quotes for your property and ensure you have the coverage needed.
Odessa, TX, General Liability Insurance
Each company could be liable at some point or another. General liability or GL insurance is a comprehensive policy that can protect your business. Most claims that are filed will use the liability limits on your policy.
A GL policy will protect your company from a lawsuit due to bodily injury, advertising injury, slander, or property damage. Let's look at where liability limits start:
- $1,000,000 per occurrence
- $2,000,000 aggregate
Ask your agent about products and completed operation coverage for after the job or service is finished. Your local independent agent can go over different liability options so you can have the best protection.
Attract the Right Talent for Your Odessa Business
The cost of healthcare has increased tremendously in the past decade. Your employees could have a hard time keeping up with monthly expenses because of the high premium amount. Let's look at the numbers:
- Average annual health premiums for family employee coverage in 2019: $20,576
- Average annual health premiums for single employee coverage in 2019: $7,188
If your company is successful because of employees, then retaining them is crucial. Employee benefits packages can attract new hires and keep the current staff satisfied. 77% of private business owners are contributing to their employees' healthcare costs. Which means you should too if you want to stay ahead of the curve. Discuss creative packages that would add value to your employees with your Odessa agent.
Find an Independent Agent in Odessa, TX
Your Odessa business insurance can be easy to obtain if you work with the right people. An independent insurance agent can find business coverage for the right price.
They can access several carriers and do the comparison shopping for you. Connect with an Odessa independent agent on TrustedChoice.com to get started in minutes.
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City of Odessa