Locally, Pasadena is famous not only for the movie Urban Cowboy but also for its petroleum, chemical, aeronautics and healthcare companies. This city is near major airports, highways and Houston’s shipping channel. Together with the state of Texas, Pasadena is adding jobs in its key industries such as energy and aerospace. Finding the right Pasadena, TX business insurance for your company and employees will free you to focus on expanding your business in the “birthplace of Texas.”
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The City’s Economic Climate
- Texas is in its third year of double-digit increases in crude oil production, thus benefitting Pasadena’s many refining and chemical businesses, such as major employers Lyondell-Citgo Refining and Chevron Phillips.
- Pasadena businesses benefit from their proximity to NASA’s Johnson Space Center and the Texas Medical Center.
- Pasadena aerospace companies, including those supporting nearby NASA, continue to add aerospace jobs.
- The forecasted future job growth rate for Pasadena of 36.36% over the next 10 years will outpace that of the country, on average.
Pasadena Business Insurance Costs
- Small business professional liability yearly cost estimate: $500 to $2,500
- Small business general liability yearly cost estimate: $500 to $15,000
- Health insurance estimate: $500/individual to $12,000/family
Because of its convenient location, this city hosts a variety of large and small businesses. Whereas a very small operation may be able to get adequate coverage for less than $1,000 per year, a large company’s coverage costs could easily exceed $100,000 annually.
Insurance costs depend upon insurance requirements, company size and the unique nature of each company’s daily operations. A local Trusted Choice network member agent can help you analyze your company’s coverage needs and get the right protection in place.
Types of Pasadena Business Insurance
The city’s Economic Development Council says that the city’s location, between Houston and Galveston, is an ideal place for large and small businesses. While aerospace contracting firms may have some of the same concerns as oil companies, many of their business risks will differ.
Some small businesses may get coverage through an insurance package provided by a business owner’s policy (BOP). Larger companies will need to choose a selection of policies from multiple companies.
Industries with complex risks, such as Pasadena’s world-class aerospace industry, realize the importance of making insurance coverage part of their strategic business growth plans.
You should consider some of these common types of commercial insurance for your business.
- Property damage coverage to protect you against fire, storms, accidents and vandalism
- Liability coverage in many forms, including product liability, accident/injury liability, libel, malpractice, and professional liability or “errors and omissions”
- Fraud, embezzlement, extortion or theft coverage
- Cybercrime and data loss coverage
- Workers compensation coverage
- Employee group benefits insurance
Group Employee Benefits
Pasadena has access to a highly skilled workforce, but it also has to compete for those employees.
Many area companies strive to show their worth to valuable employees by providing group Pasadena business insurance benefits. These benefits may include annuities, and life and health insurance.
Pasadena Commercial Insurance Quotes
If you do business in this city, a local agent in the Trusted Choice network can make it easy to buy the right coverage at the right price. Independent agents have access to several insurance companies, so when you work with one, you'll get more than one quote for the coverage you need. You can choose the best option when you have the most information, and that's one of the most effective ways to do business.