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TAG | business liability insurance

Garage Keepers Insurance for the Aspiring Auto Detailer 5.00/5 (100.00%) 3 votes

Opening an auto detailing service seems like the perfect business model. Low-capital startup and plenty of positive cash flow, the only thing missing is a trip to Auto-Mart to pick up some equipment and you could be in business tomorrow.

This is where taking a moment to count the full cost of doing business can save you plenty in the long run. There is much troubleshooting, cautious planning and important considerations that must be addressed before you can get a bona fide business off the ground.

The most important of these is proper insurance coverage. This is where the unassuming shake their heads and say “don’t worry, nothing will happen,” “it’s not demolition derby, it’s just auto detailing,” or “but, what about my positive cash flow”. This type of mentality is not conducive to a productive business of handling other people’s property.

Auto detailing, simplistic as it may sound, will mean handling the second-largest investment many people will make. Car owners can be especially sensitive about the way their cars are handled and the conditions in which they are returned.

While general business liability insurance should just be a given, it is important that you consider proper garage keepers insurance as well. This is especially important if you will work in a fixed-location, even if you are not actually doing any mechanical work.

It is a good idea to ask your insurance agency in Texas how much garage keepers insurance coverage you are going to need to safely conduct your business. Think of the negative possibilities; a car could get stolen, subjected to fire damage or even accidentally damaged while being moved or detailed.

You will want to look for coverage in the vicinity of $50,000 to $100,000 simply for damage to any of your client’s vehicles while they are in your charge. A reputable independent insurance agent in Texas can give you more information for fire or theft insurance.

The good news is that there are some ways to keep your premiums from destroying your positive cash flow. First of all, consider paying minor claims with cash out on hand. If you turn every small claim to the insurance coverage they will simply up your premiums.

Furthermore, if you are operating a pick-up and drop-off services, you will want to make sure you have a spotless driving record. If you plan on hiring employees you will want to be sure their records are equally clean, this will help to keep those garage keepers insurance premiums to the bare minimum.

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What Type of Insurance Does Your Business Need? 5.00/5 (100.00%) 1 vote

Whether you own or manage a small local business, an online store, or a large company, insurance can protect your business from major as well as minor risks. Getting your business insured is a straightforward process. An experienced and transparent independent insurance agency in Houston can help you determine the right amount of coverage you need, as well as customize your insurance package, so that you get the best value for every dollar you spend on insurance. Some of the key insurance policies your business may need include:

Commercial Liability Insurance / Business Liability Insurance

This standard insurance policy protects your business from mistakes and accidents that can lead to physical injuries, psychological trauma, or financial loss. Regardless of the type of business you have, whether you manufacture products or sell food, customers and other people who visit your business location, come in contact with your employees, or use your products or services can start a lawsuit against you. Reasons vary from a faulty product or on-premise business prop that causes a physical injury, to a disgruntled employee who insults a customer, who then sues your company.

Commercial liability or business liability insurance can be effective against many different types of liability claims, including payments to claimants resulting from bodily injury, medical expenses, property damage, as well as legal costs you may incur during the defense. Coverage offered by a good insurance agency in Texas may include product liability, professional liability, and commercial property insurance.

Business Auto Insurance

Essentially, a business auto insurance policy protects the vehicles you use for business (including vans and trucks) from the dangers that may arise on the road. Coverage extends to company vehicles that are driven by your employees to work or to meetings with customers, as well as to deliver goods or drive other employees home. It’s similar to a personal car insurance policy, only that it applies to businesses.

Garage Liability Insurance

If your business sells, repairs, services, or tows cars, you need a garage liability insurance. This type of policy covers you against customer injuries that arise unintentionally at your shop, such as slips or falls, as well as discrimination and employee dishonesty claims. This kind of coverage is usually not included in a general business or commercial liability insurance policy.

Garage Keepers Insurance

Although it is often confused with a garage liability insurance, garage keepers insurance is a different form of insurance. It covers any damage to the vehicles in your care (your customers’ vehicles) that may accidentally arise while they are stored, repaired, or kept in your facility. An experienced insurance agent in Houston can further explain to you the differences between a garage liability and garage keepers insurance.

Regardless of the type of insurance your business needs, it’s important to work with an independent insurance agency in Houston that is transparent and can fully understand your business’ needs. At Boardwalk Insurance Group, we offer all of the above business insurance policies as part of our commercial insurance solutions.

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Why Choose An Independent Insurance Agency In 2016 4.67/5 (93.33%) 3 votes

Whether you’re shopping for commercial liability insurance, exotic car insurance, garage liability insurance, or any other type of insurance policy in Houston, you have to choose between “captive” agencies and independent agencies. While captive agencies represent just one insurance provider, independent agencies represent several. Choosing an independent insurance agency in Houston has a number of benefits which can have a major impact on your decision.

More coverage options and price points

Because an independent insurance agency in Houston partners with several different insurance companies, they are able to compare different options in order to find for you the insurance policy that provides the best coverage at the best price. This can be especially important when it comes to more specialized policies such as exotic car insurance or garage keepers insurance, which not all insurance companies offer.

One application spares you the trouble of multiple applications

When working with different captive agencies or agents, you have to send a separate quote application to each of them. With an independent agency, on the other hand, one application is enough for you to get quotes from multiple insurance companies. This speeds up the search for the right insurance policy for your needs.

A personal adviser guides your decision

Any well-established insurance agency in Texas will offer you your own personal adviser, who can use his or her experience and insight into the insurance world to help you determine how much coverage you actually need and how much you can afford to pay on insurance every year. What’s more, a personal adviser can answer any questions you may have regarding your insurance policy, explaining for example the differences between an exotic car insurance and an exotic car warranty or between a garage liability insurance and a garage keepers insurance.

Complete coverage for all your insurance needs

Because an independent insurance agency in Houston brings together different kinds of insurance options from multiple providers, it can offer you a complete solution to all your insurance needs. If alongside your auto or home insurance you also need business auto insurance or business liability insurance, you may be able to get them all in one place, and sometimes at a discount, too. Shopping for insurance can be a time-consuming, even stressful process, but an independent insurance agency can make it less of a hassle by managing your insurance policies for you.

Last but not least, an independent insurance agency in Houston can offer you more flexibility than a captive agency, not only during the insurance buying process, but also after you sign the papers. If you want to change your insurance later on, an independent insurance agency provides you with far more options. To discover all the benefits of using an independent insurance agency, call now Boardwalk Insurance toll free at 1.866.595.4077 or by using this contact form.

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Business Liability Insurance For Small Business – Why Its So Important 4.67/5 (93.33%) 3 votes

A general business liability insurance is one of those key insurance solutions offered by insurance agencies in Houston, including Boardwalk Insurance, that small businesses cannot do without. At first glance, it may seem that a business liability insurance or commercial liability insurance, as it is also called, is for large businesses only, and that small businesses could spend their small budgets on other things. That cannot be farther from the truth. Like any type of business, small business is risky, and without adequate coverage, the small business owner can find himself or herself in some really bad situations involving property damage, bodily injury, or out-of-court settlements.

General Business Liability – Essential Business Coverage

That’s where general business liability insurance comes in. This comprehensive insurance solution protects a small business owner as well as his or her employees from bodily injury or property damage claims made by customers. Regardless of the type of the business in question, such claims are inevitable over time, and often result in litigation and settlements which can cost a business thousands of dollars in attorney expenses, medical expenses, and out-of-court settlements. Any of these can destabilize a small business and put the owner in the unpleasant situation of having to pay money out of pocket or even to have recourse to loans to pay off expenses.

Furthermore, general liability insurance protects a business from what is dubbed in insurance jargon ‘advertising injury’, and which can include accidental copyright infringement through a marketing campaign or event. More than financial security, a general business liability insurance brings a small business owner peace of mind — should an accident involving his or her property or products occur, the policy bears the brunt of the consequences.

What Coverage a Small Business Needs

It is important to understand, however, that business liability insurance isn’t the only type of insurance a small business needs to be well covered from accidents and other unpleasant occurrences involving customers, employees, and business property. For protection against auto accidents, a small business needs business auto insurance. Car body shops, repair shops, or cleaners, as well as any other business that stores customer cars’ on its premises needs garage liability insurance and garage keepers insurance. Employee injuries, on the other hand, are covered by a workers’ compensation.

As you can see, business liability insurance is essential for any business. But other types of insurance are also necessary. At Boardwalk Insurance, we are an insurance agency in Houston that offers a complete range of business insurance policies to fully protect small business owners from unfortunate occurrences, including garage liability insurance, garage keepers insurance, commercial liability insurance, business auto insurance, professional liability insurance, and more. To find out more about our comprehensive small business coverage, don’t hesitate to contact us.

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Why Commercial Liability Insurance 4.67/5 (93.33%) 3 votes

In today’s business world, commercial liability insurance is one of the most vital and substantial must-haves that a business owner can obtain. Commercial liability insurance is the most basic type of business policy designed for the most common claims.

General liability insurance is the first step to starting your business and also the most important coating of protection for claims. Liability insurance is intended to protect a company’s assets and pays for any obligations needed. Liability insurance covers legal costs if for any reason should you be sued. A business could be sued for a countless number of reasons including negligence, personal injury, libel, slander, errors, defective products, advertising mistakes, etc. Without liability insurance to protect your business and your personal assets, lawsuits against your business can without a doubt shut down your complete domain if the awards are high. This will help save your company from paying out vast cash settlements or damages and regularly is vital in preventing a business from going bankrupt.

Commercial general liability policies cover the cost to settle or defend claims even if the claims are counterfeit. It is crucial that a business owner cares for their assets and protects them from potential risks, which is why commercial liability insurance is so highly recommended. Commercial general liability normally covers six categories including bodily injury, losses after your business has completed work for a customer, personal injury, advertising injury, independent contractor’s liability and medical payments.

A company’s liability policy does not terminate or expire even after a business is no longer in operation. Believe it or not, it could last a number of years after it closes. Preceding business owners and professionals have the option to purchase “run-off” coverage, which offers the same security and protection for a certain period of time after the business has shut down. Such policies can also cover occurrences that are caused by employees and/or staff involved with the business on the policy owner’s behalf. Depending on what is being insured, liability can differ greatly from being exceptionally costly and tough to insure where risk is more prominent, to comparatively low-cost and simple to cover low risk circumstances.

Having commercial liability insurance or business insurance protects your business when faced with claims. Everybody will make mistakes, errors and unintended accidents in your business that could lead to damages that could be physical, economical, or psychological. Anyone who comes in contact with you or your business can file a claim against you for numerous reasons. Always at your advantage, if your company is negligent for whatever reason, your business can keep its possessions if you are effectively insured. Always make sure to gather different general liability insurance quotes from as many companies as possible to get the most competitive rate. If you are not entirely content with an insurance quote, keep searching until you come across the plan that’s right for your business needs.

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Everything You Need to Know About Business Liability Insurance 4.25/5 (85.00%) 8 votes

There’s no doubt that you’ve heard it before: every budding business needs liability insurance. They come in different shapes and sizes, but there’s a few things to consider before jumping in.

Let’s start off with what business liability insurance is. It protects the assets of a company and pays for medical obligations in the event of damages. These damages could be anything from personal injury on the job to property damage. It’s vast and can be pretty cumbersome to deal with alone, so if business liability insurance is something you want to consider, make sure you hire a team with the experience to help you out when you or your company is in a bind.

When considering whether or not to look into business liability insurance, take a look at the costs of a premium versus the cost of a court case. In today’s litigious society it’s becoming increasingly more important to protect yourself from the number of harms that are out here in the world. Sure, paying premiums will cost you some money, but the relatively low cost of these premiums ($750-$2,000) should be enough to convince you that possibly losing thousands and even millions of dollars in a heated legal battle just isn’t worth it.

Next, different businesses have different risks. For example, an architectural firm will need a significantly higher level of coverage than a web development company. Thus, the possible harms associated with your company will ultimately determine the coverage package you might want to buy into. Location is also a large factor- so make sure to include that in your discussions.

Finally, once you’ve bought an insurance plan, it’s imperative that you understand exactly how it works. Your business liability insurance policy will highlight the maximum payment the company will put forth as a result of a settlement. For example, if your coverage is willing to max out at $400,000, then you’re responsible for paying any fees in excess of that amount, regardless of what they are.

Now if you operate a highly risky business operation, a low maximum coverage payment may not be your best bet. Umbrella insurance essentially raises the maximum bar on your liability package payout limit.

Regardless, you need to do your own research to determine what plans and business liability insurance packages fit you and your company’s budget. Premiums may be expensive, but it’s worth the small change in relation to the potential mudstorm that could come your way otherwise. The Boardwalk Insurance Group sets itself apart from other generic liability insurance groups with the wealth of information they’ve accumulated from years in the business. Their highly qualified agents will set you up with liability coverage that suits your tastes and will keep you updated throughout your stay as a client. Check them out today and see what all the hype is about!

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