Top 5 Pitfalls to Avoid When Buying Commercial Insurance for Your Business

When you start your business, one of the key factors to consider is what type of business insurance you need. With the wide selection of commercial insurance options available today, it might be challenging to purchase the right coverage that perfectly suits your business operations. To help you with the selection, FB Taylor in Nederland, TX has prepared a list with the five most common pitfalls to avoid when shopping for commercial insurance for your business.

Getting a Coverage That is Too Cheap

Picking an insurance plan solely because it is cheaper is not always the smartest decision because you might be left with an insufficient plan. However, it also does not mean you need to pay extra for the benefits you do not need. In order to make a knowledgable decision, make sure you shop around by weighing the plans’ premium accounts and features.

Not Reading the Policy Properly 

Every insurance policy contains important information about deductibles, coverage limits, and reimbursement policies. Therefore, it is vital to take your time and read the policy thoroughly.  

Not Considering Potential Income Losses

If your business sustains damages, you will most likely face the income losses from your business being shut down. By losing income, it might be difficult, if not impossible, to get back on your feet without coverage. 

Not Adapting Insurance to Your Growing Business

If your business is growing, the insurance should evolve along with the growth of your company. This means you should consider switching policies when your business expands. This might include bundling policies or getting more coverage.

Forgetting Workers’ Compensation

Unlike other states, Texas does not require business owners to carry workers’ compensation. However, if you are a good employer who cares for his employees, you should consider having workers’ compensation anyway. 

If you want to avoid mistakes and pitfalls when shopping for commercial insurance, the highly qualified agents from FB Taylor in Nederland, TX are ready to consult with you and help choose the best option. Just contact our office and give us a call today for more information.

Will Home Insurance Cover Pest Control?

Nederland, TX gets its share of pests during certain months, but, unfortunately, home insurance generally won’t cover the costs associated with getting rid of them, or repairing the damages.

This comes down to a couple of simple reasons:

  • Pest control is a matter of home maintenance. Your home insurance doesn’t cover cleaning supplies or replacement A/C filters, so it probably doesn’t cover pest control, either.
  • Generally speaking, pest control isn’t worth filing a claim over. Unless you have a termite infestation that you allow to get out of hand, controlling and correcting a pest situation is probably going to cost you less than the deductible you would pay to have your home insurance company take care of it.

The truth is that if more home insurers offered coverage for pest control and damages relating to pests, most of their customers wouldn’t take them up on it. Mousetraps cost about a dollar each and exterminators typically don’t charge enough to bother calling your insurer over. Home insurance is there to cover the big things, the stuff that we can’t easily cover ourselves out of pocket, so there’s not much cause, on the customer side or on the provider side, to worry about insurance for pest control or repairing damages left by an infestation.

If you’re still shopping around for home insurance in the Nederland, TX area, give FB Taylor a call and see what they can do for you, or get in touch through their website. Pest control is something most homeowners can handle themselves, but when it comes to storms and wind damage, you’ll be glad you have FB Taylor in your corner to help you handle the big damages.