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.