What can happen to a business that does not have commercial insurance?

Anyone that dreams of being their own boss should consider moving to Colleyville, TX and starting a business. There are several advantages that come with owning a company here, which include benefiting from the good local economy and support for small businesses. If you are going to start a company in this region, you need to have proper insurance. If you do not have a proper commercial insurance plan, you are at risk of a few negative outcomes. 

Loss of Major Assets

One risk that comes with not having a commercial insurance plan is the risk of losing a major asset. If you buy equipment, inventory, or other major assets for your company, there is always a risk that you could lose them to a fire, vandalism, or other situations that result in a loss. If you are not insured properly, you will not have the coverage in place to replace these items.

No Liability Mitigation

Any business owner in Texas will also need to make sure they get the right liability risk protection in place. As there is always a chance you could be named in a liability claim, having coverage and support to offset this risk is very important. If you are not insured with a commercial insurance plan, you are not going to have the necessary coverage to mitigate this risk. 

People who are in the Colleyville, TX area will always want to make sure that they have proper insurance protection for their business. To ensure you are getting the appropriate coverage, calling the Jason Ridley Agency is a good idea. The team with Jason Ridley Agency can help you identify all of your business insurance needs and then build a plan that helps to protect your company. 

Types of Commercial Insurance

Navigating the world of commercial insurance can be confusing for some business owners, especially with the different options in the market. Entrepreneurs must make the right decision in choosing the right policy if they are to protect their investment sufficiently. Below, Jason Ridley Agency takes Colleyville, TX business owners through the different types of commercial insurance.

General Liability Insurance

General liability insurance helps protect a business from common perils like a customer getting injured on your business premises or their property getting damaged. This type of commercial insurance also helps a business cover legal fees if sued for libel or slander.

Workers Compensation Insurance

Although not mandatory in Texas, it is still advisable that a business owner gets this type of policy to protect themselves and the company’s assets. It helps cover medical expenses arising from an employee getting injured or sick at the workplace. Also, if an employee decides to sue you, it can help cover the legal fees.

Commercial Auto Insurance

This type of insurance helps to protect the company’s vehicles, providing cover for property damage when the car is involved in an accident. The cost of replacing or repairing the car is covered here, allowing your company to keep running with few interruptions.

Cyber Insurance

If your company faces cyber attacks like being hacked or a data breach involving confidential customer information like account numbers, this type of insurance can provide compensation for monitoring costs, customer notification costs, and legal fees.

Professional Liability

This type of commercial insurance is common with businesses providing services such as financial or legal consultation. If your business is sued due to a mistake you made that costs a client a significant loss, professional liability can help cover the legal fees.

If you own a business in Colleyville, TX, and you want to protect yourself and your assets from financial loss in case of anything, you should get commercial insurance. You can reach out to Jason Ridley Agency, where we will help you pick the right type of commercial insurance that suits your business needs.

Why Workers Compensation Is An Essential Part Of Commercial Insurance

Jason Ridley Agency serves the Colleyville, TX community, as well as the surrounding areas. We strive to ensure that our clients have the coverage they need to protect their assets. We look forward to hopefully establishing a long-lasting partnership with you. We are proud to serve the community as an independent insurance agency.

Why Workers Compensation Is Essential

Operating a business is a significant investment. You have to put in a lot of work to make sure that your business is successful. Commercial insurance is an asset. The policy can help alleviate some stress associated with operating a business daily. Commercial insurance covers damage to your property and inventory. You are also covered if your inventory is stolen or damaged. Liability coverage protects you if you are involved in a dispute due to someone getting injured on your property. One of the most important parts of commercial insurance is workers’ compensation. Workers’ compensation helps you protect your business while simultaneously taking care of your employees.

Important Benefits

Your employees are a valuable part of your Colleyville, TX business. By adding workers’ compensation to your policy, you are showing that you value your employee’s contributions to the business’s success. If one of your employees gets injured, workers’ compensation will cover their treatment and rehabilitation. The policy also covers your employees if they become disabled. In the unfortunate event that your employee suffers a serious injury and passes away, workers’ compensation can assist with the arrangements. Having a strong worker’s compensation policy can also give your business a competitive advantage when retaining and attracting talent.

Jason Ridley Agency Can Help You Take Care of Your Business

Visit our website to learn more information on commercial insurance.

3 Questions to Ask About Your Commercial Insurance in Colleyville

When you’re a business owner in Grapevine or Colleyville, TX, your days are already filled with questions. Questions from yourself, your vendors, your employees, your customers — big and little asks that need answers.

All of these everyday quandaries can be exhausting after a while, which is why so many people will just renew their business insurance without thinking about it, or choose based on the bottom line and nothing else. But this is a dangerous shortcut for a wide variety of reasons. Jason Ridley Agency wants you to examine the three questions you should ask before you dismiss it. 

Who Does My Insurance Cover?

From your employees to your customers, you need to know about the people who are under your company’s umbrella. If you’re injured in the stockroom when you’re going through inventory, do you know if you can file a claim?

What Doesn’t My Insurance Cover?

This is often more telling than what your insurance does cover. Once you know that an event isn’t covered, you can start to assess whether you’d rather spring for the additional protection. From major storms to theft to vandalism, it’s worth checking these things out. 

Who Are You Working With?

The carrier that you’re working with will have a lot to do with the relationship you have with your insurance policy. If you’re asking these questions to the right people, you get the answers you need plus much more. 

Jason Ridley Agency is here to help the business owners of Colleyville, TX really understand what they’re signing up for. Before you think of insurance as just another thing you need to stay legal, give us a call. We can help you see where the holes in your commercial insurance are, so you can feel confident about the future. 

Commercial Insurance Add Ons For Any Building

Your place of business represents an incredible investment of time, money, and resources. Due to this, it is crucial for you to protect your place of business with the right commercial insurance policies. This includes protecting the building your company is in. However, there are all kinds of commercial insurance add ons for the building that you need to consider. When running a business in or around Colleyville, TX, our team here at Jason Ridley Agency wants to help you protect every corner of your commercial facility. 

Window Protection

Does your facility have a large number of windows? Perhaps you run a restaurant with big windows right alongside a busy street. You’ll want to protect these windows with additional insurance coverage. 

Flooding Insurance

Just like your home, you’ll want to protect your commercial property from flooding and other kinds of storms. Flooding can be extremely devastating to a business, as it may not just cause damage to your property, but to the equipment and goods within the facility as well. With flood insurance, you’ll protect your business from this. 

Protection From Vandalism

Your windows can be covered from vandalism, but if your building is tagged, you’ll want to remove the spray paint. This can be difficult and even expensive. With the right commercial insurance protection, you will not be forced to pay for all the repairs out of pocket.

It doesn’t matter what kind of business you run. You need to protect it. As every commercial facility is a bit different, your needs will not be the same as the business across the street. That is why, if you run a business around Colleyville, TX, you will want to give our staff here at Jason Ridley Agency a call. We’ll help connect you to the insurance coverage for your specific commercial property.