I have a small online business with no employees. Do I need commercial insurance?

Commercial insurance carries many benefits for business owners. Whether your business is large or small, commercial insurance provides vital protection. Small business owners may feel that commercial insurance isn’t necessary. However, the team at Modern Risk Management is committed to helping small Houston, TX business owners understand the benefits of commercial/business insurance.

What is Commercial Insurance?

Commercial insurance is insurance for businesses. It can be customized to fit the unique needs of a business. Commercial insurance protects business owners, the business itself/business property, employees, and customers. Companies can take advantage of liability coverage, which provides protection from lawsuits, as well as property and bodily injury coverage. Your coverage includes coverage for natural disasters, accidents, financial loss, lawsuits, vandalism, and more. Any insurance is designed to provide protection and compensation for the insured. Business owners have a vested interest in protecting their assets. Commercial insurance provides the tools to protect, maintain, and grow their businesses.

I have a small online business with no employees. Do I need commercial insurance?

Yes. Even online business owners can benefit from commercial insurance. Commercial insurance can provide cybersecurity protection for your business. If you sell products online, cybersecurity protection can provide protection for your online purchases. However, the protection doesn’t stop there. If you sell online, commercial insurance can also provide liability protection if your products harm a customer. Liability protection can also help with property damage and protect your products while in transit to your customers. If you provide delivery to local customers, commercial auto insurance can protect your company vehicles as well. There are many benefits available to online business owners that may be surprising to know. Commercial insurance is designed to meet the unique needs of different business owners. If you have questions about commercial insurance and how it can benefit you, call Modern Risk Management in Houston, TX.

Do Individuals Who Work From Home Need Commercial Insurance Products?

More and more people are starting side hustles or their own businesses from their own homes. One of the questions that we at Modern Risk Management, serving the greater Houston, TX area, are often asked is whether individuals who work from home need commercial insurance products or whether their home insurance policy will cover their business items stored in their homes. 

Does Home Insurance Cover Business Items That Are Stored or Kept in Your Home? 

Home insurance will not typically cover items that are used as part of a business, even if those items are stored and kept in your home. For example, if you are a voice artist and you have a soundproof room in your home with microphones and other equipment, those items will not be covered by your home insurance policy if there is a fire or a flood. 

Do Individuals Who Work From Home Need Commercial Insurance Products?

Individuals who work from home or operate a business out of their homes likely need commercial insurance products to help protect the value of the business items that are stored in their homes. Commercial insurance can also protect individuals from lawsuits in case there is something wrong with the product, and a consumer is hurt, something home insurance will not cover. 

Give Us A Call

If you own your own business, even if it is a business that you operate out of your own home, you likely can benefit from commercial insurance products, as your home insurance policy will not cover your business items in the home. If you are looking for commercial insurance in the greater Houston, TX area, reach out to Modern Risk Management today to learn more or find out which commercial insurance products are most beneficial to you and your business. 

Don’t Let Your Business Remain Unprotected – Commercial Insurance is the Answer

Are you a business owner? Do you have the proper insurance coverage to protect your livelihood? Modern Risk Management helps business owners in and around the Houston, TX area protect their businesses with commercial insurance.

Why Commercial Insurance?

Businesses need this coverage because it helps cover the expenses associated with liability claims. It protects business assets, property, and income, and provides a financial safety cushion. In the event something unfortunate happens to your business, you could be faced with property damages, demands for medical compensation, business interruption, lawsuits, or all of these things.

Commercial insurance coverage protects your business property against damages or loss caused by specified perils as outlined in your policy, such as fire, windstorms, explosions, and theft.

It is important to note that a general liability insurance policy will not help a business with commercial auto accidents caused by you or your employees while driving for work. A commercial auto insurance policy is required to cover the cost of damages.

Without commercial insurance coverage, business owners are required to pay for legal claims and costly damages against their company out of pocket.

Commercial or business insurance is usually a contract for one year that agrees to handle the business liabilities for a set amount of money determined at the beginning of the policy term. This amount is set by the amount of property you own or the liabilities you are exposed to.

Oftentimes, the terms “commercial insurance” and “business insurance” are confused. They are actually the same thing, and the terms can be used interchangeably.

Commercial insurance or business insurance saves you time, money, and stress. Your business is protected from damage, and it provides benefits for your employees.

Get The Right Coverage Today

If you are a business owner in Houston TX, contact Modern Risk Management to obtain a quote or answer any questions you may have. You will be glad you did.

4 Benefits Of Commercial Insurance

Modern Risk Management is an independent agency. We serve our clients by providing excellent customer service at all times. Integrity is one of our core principles. We help Houston, TX residents find the coverage they need to protect their assets. We work closely with multiple carriers throughout the South. We are committed to establishing long-term relationships with our clients. We want to help you at every step of your journey.

4 Benefits Of Commercial Insurance

The Houston, TX community is a competitive marketplace.  Businesses are constantly looking for ways to stand out from their peers. One mistake can be costly. That’s why having a strong insurance plan is so important. Operating a business is tough. You have to deal with multiple rights and responsibilities. Commercial insurance simplifies things so that you can focus on operating your business. Here is a look at some key benefits of commercial insurance.

Protects Your Employees

You rely on your employees to help keep your business operating smoothly. If an issue arises in the workplace, worker’s compensation will cover your business. The policy specifically covers your employees if they suffer an injury on the job. Their medical treatment is covered.

Protects Your Customers

It’s a terrible feeling to have a customer visit your business and suffer an injury. Perhaps they tested your product and believe that it made them ill. Liability coverage protects your business against these allegations. Your customer’s medical treatment is covered.

Natural Disasters

As a Houston, TX resident, you are aware of the damage that severe weather can bring. If your business is impacted by a hurricane or tornado, you can rely on business interruption coverage to protect you until things are back to normal.

General Comfort

A strong commercial insurance policy provides general comfort that you are protected regardless of what issue arises.

Modern Risk Management Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

What are the benefits of a Houston commercial insurance plan?

In the Houston, TX area, many potential advantages come with owning a small business. If you are going to start a company, there are many opportunities, but there are also business risks. A way that you can offset some of these common risks is by getting a commercial insurance policy. There continues to be a variety of benefits that come when you get a commercial insurance policy.

Insurance Protects Assets

Most business owners should get a commercial insurance plan because it can help protect all of their business assets. Business owners that want to grow will need to invest in assets for their company. These assets can range from simple office equipment all the way up to heavy machinery. No matter what assets you own, it would be best if you protected them with a commercial insurance plan.

Insurance Gives Liability Coverage

A commercial insurance plan will also give you protection to mitigate the risk of being named in a liability insurance claim. Liability risk is a real concern for all businesses. As liability claims are unpredictable, having a proper insurance plan in place will be helpful. With this insurance coverage, you will get the financial support you need if your business is determined to be liable for an accident that results in damages. 

If you are looking to purchase a commercial insurance plan in the Houston, TX area, it would be wise for you to call Modern Risk Management. The insurance professionals that work with Modern Risk Management can help you assess all of your insurance needs and options. We can help you determine what risks your business has and find an insurance solution that will mitigate them as much as possible. 

Three things you should know about business income insurance

At Modern Risk Management, we offer commercial insurance to Houston, TX business owners, and those around the area. Business income insurance is one of the numerous types of commercial insurance available. 

Every business is different. If you are determining which types of commercial insurance to purchase, you need to understand what business income insurance is. Business income insurance compensates your company if the business operations must cease temporarily. 

Regardless of how secure your business is, it’s always possible that an unexpected event could come up and interfere with normal business operations. For example, a natural disaster could destroy your place of business. In this case, you cannot continue business operations until your commercial facility has been repaired or replaced. 

Business income insurance will compensate you if something like this occurs.

Business income insurance ensures that your company will continue bringing in money even after an unforeseen accident. 

You enjoy peace of mind with business income insurance. As a business owner, your company is your livelihood. If you have an accident that stops revenue from coming in at your company, you may find it difficult to keep up with bills and employees. Business income insurance can, therefore, be a financial lifesaver for business owners in the event of an accident. 

In addition to covering lost income, business income insurance can also cover the costs of overhead and temporary relocation. 

Business income insurance doesn’t just provide coverage for lost income. It can also cover the costs of re-establishing businesses while functioning at a new location. Business income insurance thereby minimizes the costs of events that disrupt your company’s operations. 

Please contact us at Modern Risk Management to learn more about business income insurance for Houston, TX business owners.