Imagine you’re finally getting that start up off the ground, but instead of being located in the Arlington, Dallas or El Paso areas, your new business is located in Macedon, NY. Your new start up requires a lot of things in order to be successful, but the one thing you can’t do without is commercial insurance. Whether you start your business in Texas or New York, you’ll need this essential form of insurance to keep yourself protected against a wide range of liabilities.
Although you probably think that you don’t need insurance right away, you have to be prepared for any sort of risk starting with the first day of business. After all, a catastrophic loss could occur the moment you open your doors for business and your independent agent won’t be able to help you after the fact. Being adequately insured against a broad array of potentially catastrophic scenarios is something that is unavoidable, in the vast majority of cases.
In most states including Texas and New York, businesses with employees are legally required to carry workers compensation and disability benefits insurance. Depending on the jurisdiction, you may also be required to carry other forms of commercial insurance. A landlord may also require you to maintain a certain amount of liability coverage in order to maintain your property lease. Last but not least, your investors may require you to maintain coverage in order to protect their investments.
No matter where you set up your business, it’s likely that you’ll need commercial insurance coverage. It’s important that you contact us to speak to an independent agent if you have any questions or if you need specific details concerning your insurance needs.