There’s a simple way to insuring commercial property Houston, TX. All you have to do is get on the line with Texas Insurance Agency today. If you’re looking for affordable insurance options that cover everything you need, we’re the insurance brokers you want to talk to. When you call us, our insurance agents will show you all your options and help you pick the best one for your property and situation.
Why should I insure my commercial property?
Also called business property insurance, this type of insurance can protect your commercial real estate and any onsite physical assets. These physical assets can include the business’s property and the personal property of others from various types of situations, including the following:
- Burst pipes
By insuring commercial property, you can provide a financial safeguard when something out of your hands happens on your business’s property. For example, if you own a construction business and keep most of your equipment on your property overnight for safekeeping, business property insurance can provide you with ample financial security in case something happens to the equipment overnight.
Commercial or business insurance isn’t an all-purpose shield. Business insurance is a safety net that keeps you above the line even after an unavoidable accident happens to your business. Don’t wait for one of those “what-ifs” to happen. You can keep your business successful by finding the best plan for insuring commercial property from the experts at Texas Insurance Agency.
The best way to go about insuring commercial property is to figure out what you need. Like any insurance coverage, there are different plans for different situations and businesses. Our agents will sit down with you to help you select the best option for your business. Call us today to learn more!
Learning About Insuring Commercial Property Houston, TX
Most basic plans cover the bare bones that most businesses may encounter. This includes accidents and tragedies, such as fire, theft, or wind damage. These incidents can affect your business’s ability to reopen or continue operating afterward. However, most basic plans don’t tend to cover the following issues:
- Floods and earthquakes
- Employee dishonesty
- Normal wear and tear
However, our team can help you find additional enhancements or endorsements that will tailor your plan to your business. After all, no business is the same. Some businesses may be okay with the basics, while others won’t be. For example, Houston tends to flood, so finding flood damage protection may be beneficial, especially if your business is in an area that floods during heavier rains.
Once you’re sure of what benefits and additions you want to add to your plan, it’s time to decide on the coverage amount. You don’t want to be over-insured and pay a higher premium than necessary. However, you also don’t want to be underinsured and be missing coverage when it matters. That’s why you should determine your value through two factors: replacement value and actual value.
Replacement Value v. Actual Value
By definition, replacement value is the cost to replace the building or assets after they’re damaged or destroyed. On the other hand, the actual value is the replacement value minus any depreciation. How much you want your plan to cover will be dependent on your business’s estimated ability to recover after the disaster.
Businesses in industries with heavy equipment and machinery will end up having higher coverage plans to protect their expensive assets. On the other hand, other businesses that have smaller appliances may not need as much coverage.
You might find it difficult to figure out the best amount for insurance commercial property. If you base the amount on the actual value of your property and onsite assets, you’ll likely pay low monthly premiums. However, you’ll have to shell out large amounts of money to recover if you have to rebuild from scratch.
On the other hand, the opposite is also true. If you base your amount on the replacement value, your premium may end up rising by a percentage every year to cover the costs of inflation, etc. However, you won’t have to shell out as much out-of-pocket expenses when you need to rebuild your business from scratch.
The experts at Texas Insurance Agency can help you determine the best amount that will protect your property without going overboard. Nothing is better than sitting down to see your available plans in front of you. Not to mention, our experts can explain each clause and section of the insurance plan to you so that you can make a better-educated decision. Schedule your consultation today, or call us to get a free quote from our experts.
Business Insurance Plans
Insuring commercial property is only one type of commercial insurance your business needs. There are many other plans that can thoroughly protect your business from incidents that can financially impact your business. For example, general commercial plans provide a safety net for the following:
- Natural disasters
Does Texas require business insurance plans?
The only commercial insurance coverage Texas requires is commercial auto liability insurance. In this state, all the other plans are optional. However, Texas Insurance Agency still highly recommends that you get the necessary protection for your business, especially in Houston, which often experiences storms, hurricanes, and a fair share of tornados on the outer edges.
Getting the Commercial Property Insurance You Need
There’s no better way to get the insurance you need than to speak with the experts. Texas Insurance Agency has helped clients throughout the Houston area. Call our Houston office today to speak with a representative. Our Houston office has helped clients throughout the years find the best insurance options for them.
We’ll show you that you won’t regret insuring commercial property.
Houston, Texas Fun Facts:
- Houston is the 4th largest city in the country.
- It has 5 professional major league sports teams.
- There’s an underground mall that runs 6 miles beneath downtown Houston.