San Antonio Commercial Insurance
Covering Your Business
Owning a business can be rewarding and a challenge all at the same time. However, managing a business and handling insurance are not always agreeable. Being prepared by knowing the road ahead and steering your business along the best possible route. That’s why Almendariz is all about choices.
In the world of insurance, liability assumes property damage or personal injury done to a customer. This insurance offers a general coverage against (outside) the business, but what about issues that arise within the company. Whether there is a concern about injuries on the job or poor practice, we offer the guidance to narrow down the possible exposures before they happen.
Our Job is to Guide Clients to a Safe Place
Our challenge is to steer you and your business to a safe place before the weather changes. Call today at (210) 301-1640 so we can review your company’s needs, risks, and tolerance and put you in the right policy to keep your skies clear and your business rolling.
Ask the Right Questions
- Will your commercial insurance agency shop your policy with multiple carriers or are they “captive” and only able to offer policies from one company?
- Will your commercial insurance agency take the time to ask you all the right questions to make sure you get the best commercial coverage for what you are willing and able to invest?
- What is the purpose of obtaining commercial insurance?
- Does the company own any vehicles?
- Are you required to maintain coverage for projects or services rendered?
- Do you hold a professional license?
- Does the state require liability coverage for your company?
The start of any business is having a form of general liability. Not all carriers are created equal in the commerical industry and some may offer coverage that another does not. Shopping by price is not a good practice but many weigh their decision purely on cost. Granted, cash-flow is a huge concern for a small business-owner but compromising on inferior coverage will cost more in the long-run. Careful consideration should be given to the carrier’s history in customer service and if standard features are offered, one should examine certain aspects such as business-interruption, loss of use, and replacement cost. These play a part in downtime of a business that can lead to a potential loss of clientele.
The nature of a particular may require a disignation or license. In such cases it professional liabilty may be included along with the general liabiltiy. Sometimes professional coverage is all that may be required but carriers may not offer it universally. Proof of coverage may be required by third parties such as municipal or other governing bodies. Whatever the case, a professional should understand the value of protecting their license.
Texas is not a state that requires businesses to obtain workers compensation. It is an optional coverage but can be an expensive choice. Rates are heavily based on the type of industry and carriers calculate the exposure of that business. However, for those that do find the need to offer WC, it can serve as another layer of protection for accidents on the job. Injured employees would benefit from this coverage with a type of income and possibly medical expenses. If major medical is already in place, then a coordination of benefits come into effect. Minor to major injuries can find a benefit because the inability to work can last an undefined amount of time.
Large pieces equipment may encourage the business owner to insure the item. Even leased equipment may require proof of coverage and rightfully so. Hundreds to thousands of dollars may cost to replace the stolen or loss of equipment. Some owners may argue the justification due to the fact that technology is ever changing depreciates over time. Which means it may be easier to pay out-of-pocket instead of purchasing insurance. Either way, a good practice is to find a total cost of equipment and decide if insuring is worth it.
Former or active employees may feel justified to pursue legal cause retain representation. An employer may have a policy and procedure for exiting employees or keep proper documentation for unprofessional behavior. Even so, it may not be enough and a legal defense might be required. Employment practice liability adds a layer of protection that allows the employer to obtain legal counsel to assist in against that employee’s actions. Unless funding is already allocated for such an occasion, an EPL policy can serve well in such cases.
About Almendariz Insurance Commercial Insurance Division
Serving Greater San Antonio families since 2007, Almendariz Insurance is a local family-owned business with young drivers of their own! Fernando Almendariz backed into the commercial insurance business when he saw a pattern of agencies selling what is profitable over what is right for each driver. Just because one of the big companies covered something obscure doesn’t mean they are right for your family, right now. That’s why Almendariz maintains active relationships with multiple reputable and well-rated insurance underwriters. Because at the end of the day, it’s all about you. Call today at (210) 301-1640 and put us to work for you.
What kind of insurance will I need? What sort of limits do I need?
General liability is the cornerstone of insurance that nearly any business owner should consider. This coverage protects property damage and personal injury that happens to a customer. From this place, a determination is reached on how much coverage will be required a.k.a. limits. A multi-million dollar company may not require as much insurance then a new startup. The most common limits found are $1 million / $2 million. Simply put, an incident would pay a claim up to $1 million with an aggregate of $2 million. But, certain projects and operations may encourage higher limits to offset larger exposures.
Should I get an umbrella policy?
Depending on the nature of your business, an umbrella policy builds on top of the general liability (GL). Without the GL, there is no possible way to obtain umbrella coverage. A possible need may stem from projects that are larger than the GL limits. This is common with general contractors and the construction industry. Large vendors often times require the contracting party to obtain larger limits to protect themselves.
Honesty is Your Best Policy
Whether you are a seasoned business owner or a new startup, cost of insurance is always a concern. Often times the cost of doing business requires proper coverage to obtain new business or maintain existing clients. Without a doubt, in order to grow one’s business it does require taking steps to protect you, your employees, and your assets.
As your business grows, your insurance needs to grow with it.
Call today at (210) 301-1640 and put us to work getting the best deal for you.