Business & Commercial Insurance
Business & Commercial Insurance Information
Bringing a business to life is a huge dedication and takes hard work, time and resources. Before opening your doors, it’s important to make sure all of that hard work is protected.
The agents at Lonestar Insurance Agency
work with business owners to customize policies specifically geared for their company and budget.
What Types of Coverage Does My Business Need?
There are many types of business insurance policies designed to cover a range of risks across industries. Every business’ needs are different, but some tend to overlap. Common business insurance coverages that we offer include:
General liability insurance is the most common liability coverage available for businesses. This insurance protects the business from claims concerning bodily injury and property damage. Injury or damage of a third party that occurs on the business property can fall back on the business as a lawsuit. General liability insurance can help cover damage and medical expenses related to the accident as well as legal fees the company may face in a related lawsuit.
Commercial Auto Insurance
For businesses that have or use vehicles for work purposes, commercial auto insurance is not only crucial, but required. Commercial auto insurance provides coverage for vehicles used or owned by a business specifically for work purposes. These policies generally include coverage such as:
- Comprehensive: Comprehensive coverage provides compensation for loss or damage to the vehicle due to fire, wind, hail, falling damage, theft, vandalism and other incidents not involving collision.
- Collision: Collision coverage provides compensation for loss or damage to the vehicle due to collision with another vehicle or object.
- Liability: Liability insurance for commercial vehicles covers bodily injury and property damage a driver may cause while operating the insured vehicle.
- Medical Payments: Medical payments coverage helps with medical expenses for the driver and their passengers after an accident, no matter who is at fault.
- Uninsured/Underinsured Motorist: This coverage helps in the case of an accident involving a driver not carrying insurance.
Workers compensation insurance provides compensation for employees who are injured on the job. This can include coverage for immediate medical expenses, physical therapy, lost wages, time off, disability and more.
Texas is unique in that the state does not require workers compensation insurance. This insurance is crucial to avoid accidents and lawsuits, however, and many employees are hesitant to work anywhere that does not offer workers compensation.
No matter what type of insurance your business needs, we will evaluate your specific needs to build a comprehensive plan.
Insure Your Business Today
Protect your business with a comprehensive and affordable business insurance policy. Contact Lonestar Insurance Agency today
to speak with an agent.
Frequently Asked Questions
How Much Business Insurance Do I Need?
Every business is different. Most liability policies are purchased by every $1 million in coverage. If you’re not sure about how much insurance your business needs, connect with an agent at Lonestar Insurance Agency today.
How Does Business Insurance Work?
Business insurance is purchased through monthly premiums in return for coverage based on certain accidents. When an accident occurs that is covered under insurance, a business owner can file a claim on their policy. An underwriter from the insurance agency will investigate the claim to see how much compensation is owed. Once the claim is approved, the business will receive compensation.
Is Business Insurance Required?
Certain business insurance policies are required on the state level while others are generally required by lenders. Lenders often require business owners to carry general liability and commercial property coverage.
Business & Commercial Insurance Quote Forms
Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.