Is Commercial Insurance Beneficial to Small Businesses?

Commercial insurance is something that any business can benefit from. Smaller businesses can benefit from commercial policies but larger businesses are going to get more out of a policy. For those that live in the Houston, TX area, the agents with Heydari Financial Group can help you find the perfect policy for you.

For the most part, commercial policies are going to benefit larger businesses the most. This is because commercial policies tend to cover things like employees, inventory, and the building that the business is housed in. Larger businesses usually have more invested in their company as well.

For those smaller businesses that are run out of a home or smaller space, a commercial policy may not be as beneficial. Though it may not be as beneficial for a smaller business, this type of policy can still protect business owners should something happen to themselves, an employee, inventory, or even a customer.

If you own a business and are thinking about taking out a commercial policy, it is always helpful to consider a few different factors. The first things to acknowledge is, do you have employees, how much inventory do you keep at the primary location of the business, and what type of building do you have your business in. If you are working from home, your home insurance is going to cover any inventory that you have. If you have no employees, you may not need a commercial policy due to workers comp laws.

If you have a business of any size you can benefit from a commercial policy but you are certainly going to benefit more if you have a larger business that has much more to insure. If you live in the Houston, TX area, the agents with Heydari Financial Group can help you get started on a commercial insurance policy. Reach out to our offices for more information.

Running a Home-Based Small Business, Is Your Home Insurance Enough?

With the advent of the internet, e-commerce, and the ability for anyone to set up an e-business about anywhere, home-based businesses and home office operations are becoming commonplace. Whether they provide a second income or a primary personal revenue source, the ability for a person to create a new company with a computer, desk, and an internet connection gets easier and easier. However, that doesn’t automatically mean that one’s homeowners insurance is the automatic coverage for a new small or micro-business based out of a person’s house. According to the experts at Heydari Financial Group, that kind of thinking can set up a budding new business for a fatal mistake.

Houston, TX homes, and related homeowner insurance are intended for residential risks and living, not for running a business. By simply reading a few policies, and it becomes pretty clear the terms and coverage assume normal residential living in a private family home, not an office. So assuming that a basic homeowner’s policy is going to be more than enough for property, casualty, and operational risks can be a big mistake that will bite later on when coverage is needed. The number one way a small business can get nuked quickly is with an unfortunate litigation turn. It’s practically the number one business killer, driving most small businesses into bankruptcy almost immediately after the first filings have been made in court.

Because setting up an internet business can be so easy, most folks, even in Houston, TX, don’t think about the insurance ramifications of a home office. However, the insurance professionals at Heydari Financial Group are well aware of what are normal homeowner insurance coverage options and what is not. We can guide a Houston homeowner down the right path and to the right kind of policy, both for residential living and starting a new home office venture. Give us a call today to find out more!

An introduction to commercial insurance

Businesses in Houston, TX can significantly reduce their business risk by carrying the appropriate insurance. Choosing the right coverage types takes careful consideration though. Heydari Financial Group can help you learn the ropes and determine the proper coverage options.

Ask yourself a few basic questions.

  • What kind of business do you maintain?
  • Where is the business located?
  • Do you run a sole proprietorship, hire contractors, or hire employees?

Your answers to these questions provide a starting point. For instance, if you run a sole proprietorship, you’re not legally required to carry worker’s compensation insurance. Living in the Houston, TX area means flood insurance may also be a smart choice for your business.

The following types of commercial insurance may fit your business’ needs:

  • Commercial property insurance
  • Business income insurance
  • Commercial crime insurance
  • Equipment breakdown insurance
  • Inland and ocean marine insurance
  • Commercial general liability insurance
  • Commercial auto insurance
  • Workers compensation and employers liability insurance
  • Business owners and farm insurance
  • Business interruption insurance
  • Group health, life or death insurance

Business interruption insurance provides coverage when an unforeseen event halts business. Commercial auto protects your commercial vehicle. Property insurance covers your building and its contents, including inventory, from theft or damage. Commercial liability insurance protects your business against lawsuits. Workers’ compensation insurance assists your employees if they incur an on-the-job injury. Group health, life, disability, or death insurance provides coverage to employees who opt for it and often provides reduced rate premiums to each employee.

Commercial insurance refers to a variety of policy types. Consider it more of a category of insurance that the agents at Heydari Financial Group will help you get to know and understand. Although it may seem overwhelming to read all the major types listed, most businesses only need a few policies. Reach out to our offices by phone or stop by for a visit to receive a quote and learn more about how to start a commercial insurance policy.

Is your startup ready for commercial insurance?

If you’re wondering whether it’s time to call Heydari Financial Group to help get your Houston, TX startup coverage, the short answer is: The sooner you get covered, the better. But, not all startups need insurance just yet.

There one main question to consider:

Can You Afford To Take On The Insurance Risks Yourself?

At the very start of a business venture, it’s all DIY and self-financed. Even if you’re going to be working with investors, you have to draw up the slideshow to pitch your idea, and you have to pay your phone bill while you make the calls. It’s all you, and you’re eating the costs while trying to keep it cheap because you have some faith in the idea and think it’s worth shopping around.

Maybe you’ve spent a hundred dollars on thrift store clothes and ten on gas to start a vintage fashion boutique. In any event, the business is in its infancy, and you’re covering your risks.

Suppose you start outfitting your home office. You’ve got a 3D printer and the fastest laptop you’ve ever owned in your life and a beautiful, luxurious leather chair. If any of this is destroyed in a fire, can you afford to replace it yourself? Do you have employees? Do clients visit you at your home office? If so, then you may need to look into general commercial liability.

From damages to liability, choosing when to call Heydari Financial Group in Houston, TX is a balancing act between what you own and what you can afford to cover. Many of your risks are already covered by home and liability insurance at the early stages, but you’ll want to take stock now and speak with one of our agents to make sure your business is protected. 

Are There Specific Commercial Insurance Points For Livestock?

When you are in the market to purchase commercial insurance, Heydari Financial Group in Houston, TX is a great contender for your business as well as your respect. Commercial insurance products are complex and cannot be purchased without serious consideration.   

Livestock is a commodity well known to the Houston, TX area. This is a complex line of commercial insurance which includes many aspects of coverage.

There is a specific point of coverage that protects owners of livestock against falling market prices in the state of Texas and in many other states where animal farming is prevalent, Livestock Risk Protection Insurance. The USDA, United States Department of Agriculture, offers a risk management assessment tool for owners of livestock to calculate how much protection is needed.  

Livestock Insurance is Detailed

The policies are actually divided into types of livestock for the producers of animal products since the nuances of different animals and how they feed, how they are contained, and basically how they are handled in every aspect on the farm varied widely. As a result of these vast differences, the commercial insurance lines must also vary widely in order to protect the producer in a comprehensive manner.

Livestock Gross Margin Insurance is an insurance coverage which protects against loss of gross margins associated with the animals ( the market value is deducted from the cost of feeding the animal). Each kind of product has its own insurance category including Livestock Gross Margin Dairy and Livestock Gross Margin Swine Insurance. 

Heydari Financial Group, serving the Houston, TX and the surrounding areas, have agents who are well-versed in commercial insurance underwriting. Give them a call today or stop by the office to find out how they can help with all of your commercial insurance needs.