How to Find Coverage That Matches Your Business

Whether you own a home business or a small business, here’s how you can choose the right coverage for your business. 

The kind of insurance that your business needs is based on a few factors. What type of business do you own? Where is it located? Do you have any employees that work for you? What is the average revenue of your business?

The best way to start looking for an insurance policy and coverage needs is by considering the size of your business. These definitions will vary, but are generally based on the number of employees, total sales, and earnings. Here are the definitions that could help you determine where your business falls and what kind of insurance your business needs to get full coverage.

Home-Based Businesses

Many successful businesses started right in their home. Typically, home-based businesses have one or no employees and make a relatively small revenue income.
The location of your home business may require special attention to insurance coverage. Homeowners insurance will not necessarily cover your business, especially if your business equipment gets damaged.

Small Businesses

Do you know all of your employees by name? Does your business make less than  a few million dollars annually? If so, you are likely the owner of a small business. The most common small business insurance policy is a Business Owners Policy (BOP).  Business companies usually consider business with fewer than one-hundred (100) employees and revenues of up to $5 million or less to be “small.”

For all of your business insurance needs as a Texas business owner, contact VGW Walker Insurance in the entire state of Texas. As an independent insurance agency, we will work with you to ensure you have the right amount of protection for your specific needs, all at the right price to fit your budget.