If you’re a business owner in San Antonio, TX, it’s important that you protect your company’s finances by investing in the right commercial insurance policy. We provide commercial insurance to San Antonio business owners at Access Insurance Services.
The following are three things you need to know about commercial insurance in Texas.
You may be required by law to carry some types of commercial insurance.
One of the number one things you need your commercial insurance policy to do is meet any legal requirements. Depending on your industry, you may be required to invest in certain types of coverage.
In particular, you need to pay attention to the required commercial insurance coverage if you hire employees at your company. You may be required to purchase worker’s compensation and unemployment insurance if you have a staff of workers at your company.
Commercial insurance premiums can be written off as a business expense.
Although commercial insurance premiums may cut into the profits of your company, they do offer the advantage of being business expenses that you can write off. This will help to bring down the tax liability of your company.
Business owners should update their commercial insurance policy as their business changes.
Your business is going to change over time. As your business changes, you need to update your commercial insurance policy.
Make sure that you factor company growth into your commercial insurance decisions. The growth of your company can lead to new liabilities and risks that you need to account for with your commercial insurance coverage.
Do you want to learn more about commercial insurance? We can answer any questions you have about commercial insurance at Access Insurance Services. We’re here to help business owners in San Antonio, TX to meet their insurance needs.
Making a mistake with your life insurance can be a colossal error that costs the very people you are trying to protect – your loved ones. However, by working with a reputable life insurance company you can make sure that your loved ones are supported even after you are gone.
Waiting to Buy
Given that life insurance only kicks in if you die, it’s not exactly an uplifting conversation which can lead to many people procrastinating on purchasing it. With many families having one person earning significantly more than the others, it’s important that at a minimum the higher earner have life insurance.
Buying the Wrong Type of Life Insurance
There are several types of life insurance and purchasing the wrong one can cost you significant money. For example, term life insurance covers the policyholder for a specific number of years before it expires. Conversely, permanent life insurance or universal life provides coverage for the entirety of your life and also allows you to accumulate a cash value that can then be borrowed or surrendered against if you face financial hardship.
Not Adding a Beneficiary
Singing a life insurance policy is only the first step with the next being to add a beneficiary; however, you’d be surprised at the number of people that forget this step and then find their estate in limbo if they pass away. As a best practice, be sure to update your life insurance policy after any major life event such as the birth of a child, a marriage, or a divorce.
At Access Insurance Services in San Antonio, TX our team of insurance professionals will take the time to get to know you personally so that we can help you find the best life insurance policy for your needs. No matter your questions, we are more than happy to answer them and walk you through every aspect of your policy. Don’t delay another day and give us a call.