Is a Business Owner’s Policy a good idea for small business owners in Dripping Springs TX?

You don’t get commercial insurance in Dripping Springs, TX because you’re required to. Texas doesn’t require commercial liability insurance, and you probably won’t have to carry property insurance unless you still owe money on the loan.

However, you get insurance because you need the protection it provides. At Ty Lawrence Insurance Agency, we help every client find the kind and level of protection they find comfortable. One great policy to start with is a Business Owners’ Policy (BOP), which combines general liability and property protection. 

How to Save Money with a BOP

Property Insurance will cover your physical building, furniture, supplies, and other items that your business owns. Unless you have special equipment, one policy might be enough to provide all the property protection you need.

Liability insurance will give you coverage in case of a lawsuit, such as if someone goes onto your property and falls. Legal expenses, like court and attorney fees, will also be covered. Without general liability insurance, your business would be responsible for paying all those damages, medical bills and legal fees if anything happened.

You can get these important policies separately, or you can get them for a combined price for a discount.

The Convenience of a BOP

If you purchase your policies separately, you could end up with different due dates and renewal periods. By combining the policies, you can ensure that you have the convenience of one date for both kinds of protection.

You may want to add other kinds of protection, such as work interruption insurance, commercial auto insurance, or another kind of protection unique to your business. If you have a small business in Dripping Springs, TX and want to make sure you have the protection you need at the best price you can find, call Ty Lawrence Insurance Agency today so we can help you out.

Do I need life insurance after I retire

For most people retiring is something that is looked forward to for years. In many cases, an employer provides a life insurance policy that you are allowed to continue and pay for yourself after you end your employment with them. You may have carried your own life insurance to add additional coverage to your dependents. Your income may change when you retire and you are probably wondering if you need to maintain the life insurance that you had when your family was young and you were the main provider. If you live in  Dripping Springs, TX you can feel comfortable bringing your questions to the helpful agents at Ty Lawrence Insurance Agency. 

Your life insurance needs change over your lifetime. When you are younger you need to carry much more life insurance since you have dependents to worry about if you should pass away. By the time you are ready to retire, likely all your children have grown up and moved away and it may be just you and your spouse. In some cases, you may have a dependent child who will always be dependent and in that case provisions for their care need to be made. But in general, you need enough insurance to take care of your final expenses and any debt that you may have. If you still have a mortgage you may want to have enough to cover that as well. 

By the time you retire, if you have had a term policy it may have reached the end of its term. Any whole life insurance that you have can stay with you for your entire life. The experienced agents at the Ty Lawrence Insurance Agency in Dripping Springs, TX are happy to discuss your life insurance as part of your retirement financial plans with you, give them a call at 512-732-2353. 

 

The most important insurance for small businesses in Albany, NY

There are some kinds of commercial insurance required by law in New York, while others are important for protection but not legally required. The best protection for your small business in Albany, NY will probably be a combination of the required insurance and any additional protection that will make sure your business has the coverage it needs. NY Twin Bridges Insurance Agency can help you look at the different risk factors your business is facing and search for the best coverage while still getting great rates. 

If your business has employees, you will need to have workers’ compensation coverage to protect them in case they suffer an illness or injury related to work. Even one employee gets that protection under the law.

Does your business use automobiles? Your personal auto insurance won’t cover any accidents that occur while the vehicle is being used for business, so you are required to carry commercial auto insurance in case anything happens.

General liability insurance isn’t required but is considered by many to be the most crucial protection your business needs. If someone is injured on your property, one lawsuit could cause serious financial harm to your business. Property insurance is another necessary protection that will cover damages to not only the physical building but your office furniture, supplies, equipment, and many other losses.

Anyone offering professional services should consider professional liability insurance, which can protect you if a client suffers taking your professional advice.

At NY Twin Bridges Insurance Agency, we want to make sure you are comfortable with your policy, and we tailor each policy to suit the needs of the client. Every business has different needs, and it wouldn’t make sense to sell the same policy to businesses that have different needs. If you think you need more protection, or if you just have questions, please call us today.