Category: Commercial Insurance

Key Differences Between Professional Liability and General Liability Insurance

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Insurance can be a complex topic, especially when dealing with business coverage. At Melvin Gessner Insurance Agency, serving the greater Willis, TX area, we proudly offer numerous commercial insurance products. Our focus here is to clarify the differences between professional liability and general liability insurance, enabling you to make informed decisions for your business.

Decoding Professional Liability Insurance

Professional liability insurance, or errors and omissions (E&O) insurance, is specifically designed for businesses offering services or advice. This type of insurance shields you from claims alleging negligence, mistakes, or substandard work. If a client believes your professional services have led to their financial loss, this coverage assists with legal defense and settlements. It’s essential insurance for professionals like consultants, lawyers, doctors, and others whose work demands specialized expertise.

Understanding General Liability Insurance

In contrast, general liability insurance covers a wider range of physical risks. It shields you against claims of bodily injury, property damage, and personal injury, such as slander or libel. Any business can benefit from this coverage as accidents can happen unexpectedly. For instance, general liability insurance can cover medical expenses and legal costs if a customer slips and falls at your business premises.

Choosing the Right Protection

Deciding which insurance your business needs depends on your operations. Often, businesses require both types of coverage for comprehensive protection against diverse risks. An experienced insurance agent can guide you through this assessment and enhance your protection significantly.

At Melvin Gessner Insurance Agency, serving Willis, TX, and its surrounding area, we’re dedicated to helping you navigate the complexities of business insurance. Contact us today to discuss your options and ensure the right coverage for your unique business needs.

Do small businesses need commercial insurance and commercial vehicle insurance?

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Small business owners understand the importance of controlling their risks, and most understand the role insurance plays in managing their business’s potential liabilities. However, small business owners sometimes believe their personal insurance policies can cover business risks, particularly when it comes to auto insurance. If you are a small business owner and want to avoid that mistake, contact the Melvin Gessner Insurance Agency team, serving the Wilis, TX area, to structure a commercial insurance plan that fully covers your business needs.

Commercial Versus Commercial Vehicle Insurance

Most small business owners recognize they need commercial insurance covering general liability, workers’ compensation, and commercial property. Typically, they also obtain the appropriate commercial coverage for their industry or profession. Unfortunately, some fail to acquire the right coverage for the motor vehicles used for business activities, particularly regarding passenger vehicles.

For example, think about a small business owner involved in an accident while driving a client to lunch following a business meeting. If the accident results in a client injury, the business owner’s personal insurance policy will not cover those expenses. The individual policy also would not cover damages if the accident involved another vehicle or the injuries passengers in the other vehicle might suffer.

An insurance company might unknowingly cover a fender bender, but accidents that result in substantial liability are investigated thoroughly and are not covered when found to be business-related. Talk to your agent and ensure you have proper coverage for your risks.

Working with Melvin Gessner Insurance Agency

Melvin Gessner Insurance Agency handles the business and personal insurance needs of many small business owners in Wilis, TX. Please stop in or call us today at 936-249-0023. Let us help you build an insurance plan to protect your business and assets.

Can Commercial Insurance Cover Stolen Equipment?

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At Melvin Gessner Insurance Agency in Willis, TX, we help our clients navigate commercial insurance for businesses of all sizes. As a business owner, one of your greatest challenges may be theft from your business. Many retailers and small businesses experience theft on a small scale and even a large scale. Unfortunately, it’s not an uncommon issue for businesses.

As a result, insurance companies like ours do the best we can to help our clients recover from this problem when it strikes. Every commercial insurance policy has different limits and terms that you’ll want to review before filing a claim for theft. Still, the frequency of this issue makes theft coverage a typical aspect of many commercial insurance policies.

Does commercial insurance cover theft?

While every commercial insurance policy may have terms and limits that are specific to that policy, it’s safe to say that a great number of commercial insurance policies cover theft. This is because stolen items are a regular occurrence for many businesses. From valuable fixtures in your store to inventory on the floor, your business has a range of items that are at risk of theft. While thieves and those responsible for stealing items might not consider how it impacts a business, business owners will feel the financial toll that stealing takes on their business over time. 

Without a commercial insurance policy that provides protection against theft, you could lose hundreds or thousands of dollars in theft without any means of recovering that loss. Some insurance policies, like auto insurance policies, don’t provide coverage for theft. This is why having commercial auto insurance for company vehicles may better protect you against theft. 

If you’re ready to protect your business, call us at Melvin Gessner Insurance Agency in Willis, TX today.

What is BOP Coverage?

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Insurance companies understand that many business owners face similar perils, and, as such, have put together commonly needed products into a bundle. These are known as a BOP or a business owner’s policy, and your knowledgeable Melvin Gessner Insurance Agency representative can give you specifics on what is included.

What is BOP Coverage?

Willis, TX entrepreneurs are only required by law to have commercial auto insurance, but there are many good reasons to choose additional coverage. Contractors and subcontractors may often choose to work only with those who purchase indemnification, as it protects their interests. As a business owner, coverage helps shield you from financial loss.

A BOP is ideal for businesses in the small to the midsize range, and they are usually customizable, meaning you can add more covered perils to your policy.

Fire is a commonly included hazard, as this can not only raze your building to the ground, but it can also take your inventory with it. Willis TX company owners very often store their machines and other equipment in their main locations, and these items can be damaged by smoke or sprinkler systems. Hail, windstorms, and water damage from snow can also pose a problem and are often covered.

Theft and vandalism can cost you dividends, and special circumstances can render your business inoperable for a period of time, but your indemnification can substitute your income temporarily.

Basic liabilities are often a part of a BOP, and this can extend to physical injuries caused to customers, destruction of property through negligence by workers to clients’ homes, for example, or advertising mishaps, such as libel, misleading information, typos, or omissions.

Melvin Gessner Insurance Agency Can Help

We specialize in providing an array of insurance services for our Willis, TX clients, and we can put together a package to meet your needs. Reach out to us by calling or stopping into the office.

5 Benefits Of Commercial Insurance

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Melvin Gessner Insurance Agency serves the Willis, TX community, as well as the surrounding areas. We are committed to helping our clients find the policies they need to protect their assets and live comfortably. We work closely with multiple carriers throughout Texas. This enables us to provide flexible coverage options to our clients. We look forward to assisting you.

5 Benefits Of Commercial Insurance

As a Willis, TX business owner, you’ve likely invested a lot of time and energy into your business. Commercial insurance allows you to protect your investment. All of your equipment and inventory are protected in the event that it is damaged or stolen. You are also covered if one of your customers gets injured while visiting your property. Liability coverage also protects your business if your products cause property damage. While looking over your policy, here are some additional benefits of commercial insurance.

Business Interruption Coverage

Southern weather is unpredictable. The next major storm is always on the horizon, especially during warmer months. If your property is damaged by severe weather, business interruption coverage will assist you. This type of coverage allows your business to continue functioning until the necessary repairs are made and things are back to normal.

Protects Your Employees

Workers’ compensation protects your employees to covering any injuries in the workplace. The coverage helps your business take care of your employees’ medical treatment.

Attract Top Talent

Having a strong commercial insurance policy helps your business attract top talent. You can gain a competitive advantage.

Enhances Your Reputation

A strong commercial insurance policy enhances the reputation of your business, allowing you to attract more customers.

Protects Your Business Against Possible Errors

You can add professional liability coverage, which protects your business from potential litigation if a customer alleges that you provided negligence service.

Melvin Gessner Insurance Agency Will Help You Protect Your Assets

Contact us today to learn more information about commercial insurance.

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