Basic insurance coverage needed for your start-up.
Building a business is never an easy task. You’ve put a lot of time and effort into making sure your start-up business gets off the ground, and it’s only natural to want to protect it as best you can. Running a start-up comes with inherent risks: An employee could get injured on the job; a natural disaster could destroy property; or a client could file suit. For those and other reasons, it is important to protect the business that you have worked tirelessly to build. One of the best ways to do that is to purchase business insurance coverage.
Here are just a few coverages that your start-up should consider:
- General liability insurance
General liability insurance covers third-party claims of bodily injury, property damage, and advertising injury. That means if a visitor slips, falls, and injures themselves while on your property, this coverage can step in to help cover associated expenses such as their medical expenses and legal defense if they decide to sue you for negligence.
- Commercial Property
Commercial property insurance covers the value of a property owned by your business, such as fixtures, furniture, equipment, and the physical location. Most policies cover damage caused by fire, windstorms, hail, vandalism, theft, and more. Consider this coverage whether you’re in a small suite or a large warehouse!
- Workers’ Compensation Insurance
This coverage is optional in Texas; however it is a good idea to purchase this as soon as the first employee is hired. It is designed to cover employees’ work-related illnesses and injuries and typically covers the injured employee’s lost wages and medical bills or pays death benefits to eligible survivors.
Your start-up insurance should also consider commercial auto insurance, cyber liability insurance, and business interruptions insurance.
Talk to your agent about how coverage can help keep your company thriving. From cyber liability insurance to business interruption insurance, contact the professionals at Reata Insurance Group. We are ready to help you today!