What Are the Different Types of Commercial Insurance?

When you’re in the beginning stages of starting your business in Dallas, TX, there’s a whole lot on the front of your mind. With overhead and employees, taxes and licensing fees swimming in your mind, you feel like the last thing you need on your plate is another to-do list. No matter how insignificant or negligible it may seem to you at first, getting the right commercial insurance plan for your new business is a crucial step in legally establishing your fledgling enterprise. In fact, some commercial insurance is required by the state of Texas before your company officially opens for business. 

State Insurance Solutions brings you a list of the most common types of commercial insurance that your business is likely to need. 

  • Commercial General Liability Insurance helps to protect business owners from different types of liability or libel claims, dependent on their unique coverage plan. 

  • Commercial Auto Insurance is required by Texas for any business with company vehicles. Policies like these will protect your business from legal, medical, and repair expenses acquired on the job. 

  • Workers Compensation Insurance is not required by the state of Texas, but may be an important investment for your business. If employees are working with you in any capacity, you may need to give this type of insurance some serious thought. 

The types of insurance your Texan business requires will largely depend on its size and specific industry. For more information, speak with your local insurance company. 

If you’re feeling overwhelmed by the myriad of commercial insurance options, know that you aren’t alone. Contact the friendly and reliable team members at State Insurance Solutions, serving the Dallas, TX area and beyond for thirteen years and counting. See why our professionals truly believe that #insurancematters today.

Whole life versus term life which is right for me

When it comes to determining which is right for you, whole life versus term life, there are a few questions you need to ask yourself.  If you live in the greater Dallas, TX metro area stopping by the office of State Insurance Solutions can help you to understand what is the best option for you. Both types of life insurance will provide for your beneficiaries in the event of your untimely end. 

Whole life

Whole life is a long term insurance coverage. It can last throughout your entire life. Most policies will earn dividends which add to the value of the policy. If you should ever need to you can borrow from your policy and there may be the option to use the dividend to pay premiums. Whole life is a long term proposition, the premium stays the same for the entire life of the policy and it will cover you no matter how long you live. If you have trouble saving, a whole life policy can provide protection while allowing you to have a nice little nest egg. 

Term Insurance

Term insurance has a term, it may be 10, 20 or 30 years but at the end of that period, your protection will end. When the term ends you may have an option to renew but you won’t earn dividends. Term life insurance offers higher amounts of protections in the years when you need the most coverage. When you have a family you want to make sure that they will be able to continue to maintain their lifestyle if you should pass.  Term life insurance is affordable enough to provide the income necessary. 

Life insurance is not a requirement but for most people, it provides a safety net to their dependants in the event of their passing. State Insurance Solutions in Dallas, TX can help you to understand your options. Give us a call or stop by our office and let our experienced agents answer all your questions.