I can see it now, like a movie scene; you are here in the big city for the first time, battered suitcase at your feet, and you want to start your first small business. It may be a food truck, or a drycleaner, or a coaching firm, or even a contractor business. Do you know what all small business dreams have in common? A need for commercial insurance. Too many times we hear from people who have started their Dallas business and don’t buy commercial insurance until it’s too late. There is a lot of risk starting a new business someplace like Dallas. Commercial insurance will protect your business(and lifestyle) should things go south.
What kind of commercial insurance do you need?
Obviously there are many different business ideas, and commercial insurance is different for each one (sometimes cities like Dallas have their own commercial insurance regulations as well). So where do you start? I’ll do my best to give you some basic understanding of your small business insurance needs and potential liabilities on a broad scale. Don’t be limited to this blog’s answers though – pick up the phone and call us at 214-253-0570 today. We would be more than happy to be your commercial insurance consultants, free of charge.
The first type of commercial insurance to consider is commercial auto insurance. Dallas is a big city, and growing every day. Whether you are in construction, or in delivery, or even an Uber or Lyft. Commercial auto insurance will protect you should an accident happen in the course of doing your job. Uber or Lyft insurance is still going to be written on a personal auto insurance policy, but not all companies will provide that c
overage, so it pays to call an expert to find out. When it comes to commercial auto insurance, if you use your vehicle in the course of your business, or if it is covered with your company’s logo and phone number, you need a commercial auto policy.
The second type of insurance to consider when you have your own business is general liability insurance. General Liability insurance is important because it protects you against being sued (or protects you against having to come out of your pocket if you are). General liability insurance looks a little different for every small business, but the principle is the same: it will protect you up to the limits you choose. Here is an example; you are a painter, and your client accuses you of ruining her floor in the course of doing your job. You know this isn’t true but offer to fix it for her. She refuses and sues you, which you must defend, right or wrong. If you have commercial general liability insurance, this becomes an annoyance rather than a complete disaster to your business and your life.
Join us for our next installment, when we will discuss inland marine insurance, workers compensation insurance, and more. Starting your own business is a challenging, exciting time. You can’t be expected to be an expert in every aspect, because when you are first starting out, you don’t know what you don’t know. Here at The Phoenix Insurance we are Dallas’ Commercial Insurance experts, and would be happy to help you get your small business started right. Give us a call today at 877-717-4054