Commercial property insurance in Texas is intended to protect the owners of businesses, farms and ranches from various forms of damage, peril or loss. As commercial property insurance is not standardized in Texas, those seeking to insure their place of business may find considerable variation in the the types of coverages that provided. The good news is that this allow insurance providers to create specialized packages suited to the needs of different kinds of businesses. The downside is that with all of the options available, it may be difficult for a business owner to find a suitable plan without some assistance. Fortunately, the George White Insurance Agency brings over twenty years of experience working in all aspects of the insurance industry in the state of Texas. George has the knowledge and experience you need to find the commercial property insurance policy that suits your business needs.
Regardless of whether you ultimately choose to purchase a policy through George White, however, it is always a good idea to familiarize yourself with the basics of commercial property insurance in the state of Texas. There are some basic guidelines that most Texas insurance providers adhere to regarding commercial building insurance. Commercial property insurance may apply to those who operate a business on their property, or to those who lease their property to others. In the latter case, business owners may have the option of purchasing coverage for selected contents within property, such as machinery, furniture or other merchandise.
Commercial property policies in this state generally fall into one of three basic categories: basic form, broad form and special form. Basic form covers common problems faced by business owners, and is comparable to a basic home owner's policy. Types of damage covered included those caused by fires, lighting strikes, wind storms, vehicle crashes, aircraft and civil commotion. Broad form includes the coverage provided in Basic form, but with the addition of natural disasters such as water damage, snow, ice or sleet, in addition to common accidents such as water damage, collapse, glass breakage and sprinkler leaks. Finally, Special form policies cover virtually any damage that might occur, with the exception of those explicitly excluded in the policy. Some examples might include floods, normal wear and tear, insects or vermin.
It is important to realize that many commercial business insurance policies do not include coverage regarding liability, business interruption or extra expenses. In these cases, such coverage may be purchased separately. These may provide the business owner additional peace of mind when contemplating protection against the cost of lawsuits, or income lost in a period of time due to damages and repairs. “Extra expense” policies provide additional compensation to an insured business owner in order to resume business operations as quickly as possible whenever a period of loss occurs.
George White has considerable experience working in all aspects of the insurance industry. He is happy to discuss your individual situation with you. If he cannot offer an appropriate policy to you at a competitive rate through his own providers, he will direct you to the ones who can! It is this sort of integrity that has set the George White Insurance Agency apart from so many others. He will give you the tools and information you need to choose a commercial business policy that will insure your property and revenue for the life of your business. Give George White a call today, or send an email!
By: George M. White