Texas Commercial Property Insurance Policies
Texas commercial property insurance normally takes one of three policy forms:
The Basic form policy covers standard perils such as Fire, Theft, Windstorm, Lightning, Hail and damage from Vehicles and Aircraft.
The Broad form policy includes added coverage such as water damage from plumbing systems, structural damages and roof collapse from the weight of ice, sleet and or snow.
The Special form policy extends from all of the above to include damages for all non-excluded perils.
You should also know that Texas has two other important coverage combination policies.
The commercial Multi-Peril policy covers property and liability, along with other specified coverages.
The Business Owner Policy also built to covers property and liability, along with other extended peril coverage. The BOP is written primarily for small businesses.
Texas Auto Home Insurance knows how important it is to read and understand the exclusions on your Commercial Property Insurance policy. Exclusions always take away coverage that has been written into the policy. If you do not familiarize yourself with these exclusions by having an agent go over them with you, you may wind up in a situation where your face a loss that cannot be covered by a claim.
Understanding what your commercial insurance policy covers and what it does not cover is the first step to safeguarding the financial well-being of your company.
Examples of exclusions on the Special Form Policy include but are not limited to flood, war, wear and tear, nuclear disaster, terrorism, pests, and vermin.
It is also important to talk to an agent who can show you how to add coverage to your Texas Commercial Property Insurance policy. Adding coverage back into the policy is called amending, or endorsing, the policy.
Any Texas Commercial Property Insurance policy can include one or all of the following endorsements:
1. Business Interruption Coverage: This endorsement agrees to pay an estimated income from a covered loss that prevents standard business operations. We strongly recommend that you amend whatever policy your currently hold with business interruption coverage.
2. Extra Expense Coverage: This endorsement pays for the cost of resuming regular business after the loss.
3. Newly Constructed or Acquired Building Coverage: This endorsement adds insurance to a new building without the insurance carrier needing to be notified.
Be sure you understand the time frame your current carrier allows before you are required to notify the carrier of this new acquisition. If you need help obtaining this information, call Texas Auto Home Insurance and we will help you do this for no cost and at no obligation to purchase insurance from us.
Texas Auto Home Insurance believes that understanding what coverage your business actually needs is always the best way to start saving on your Commercial Property Insurance premium. Arming yourself with this knowledge will start the process of selecting the right policy (or amending it with the right endorsements) and start saving money. Please call or e-mail us for professional assistance in gathering quotes and advice on your Texas Commercial Property Insurance policy.
Texas Auto Home Insurance is a statewide multi-line property and casualty insurance source that reaches out to every major city, mid-sized community, and small town in Texas. We have excellent rates on all lines of insurance, including motorcycle, boat/ATV, commercial vehicle insurance, general liability insurance for contractors, car insurance, mobile home insurance, renters insurance, and homeowner insurance. Click here to see if you qualify for any possible commercial property insurance discounts in Houston, TX, Austin, Texas, Dallas, TX, Fort Worth, Texas, San Antonio, TX, Spring, Texas, The Colony, TX, Lufkin, Texas, Iowa Park, TX, Friendswood, Texas, Donna, TX, Cloverleaf, Texas, Bridge City, TX, Orangefield, Texas, Angleton, Texas, Rosharon, TX, Andrews, Texas.
You can also call 1-866-663-5262 toll free and speak with an agent familiar with your specific city or region of Texas. He or she can answer any questions you may have about your current insurance policy, or special coverage options you may need for your personal vehicle, home, or commercial coverage.
