What Are The Biggest Fears Of A Texas Business Owner?
A Texas Business Insurance Review
Business owners have a lot to worry about, such as sales, payroll taxes, insurance, and much more. If there are problems with any of these, the company could suffer considerably. That is why having the right kind of commercial insurance can help protect your business from unforeseen losses.
Did you know that according to a study conducted by Forbes, less than 35% of business owners feel their business insurance is adequate? The management of a business becomes increasingly complex when you take into account concerns like cyber liability, employment issues, harassment claims, and possible business interruption.
Here are the top three concerns for business owners:
Having a Data Breach
0ver 90% of business owners are worried about having a data breach. “The value of the agent is not just informing the business owner that they need the coverage,” says Charles Hamann, chief underwriting officer, small commercial, at The Hanover. “They can also inform the business owner about how to help prevent these things from happening. That’s where professional advice really matters.” Cyber liability coverage can be designed to meet the individual needs of your business.
A Business Interruption
Having your business interrupted or shut down, even for a short period of time, can put you out of business. Twenty eight percent of business owners felt the need for some form of insurance protection in this area. That is why it is important to have business interruption coverage with the right limits and deductibles.
Seventy five percent of business owners deal with employment issues on a daily basis. This can include finding the right people, firing, or dealing with a harassment issue. If your business suffers a loss and you can’t pay your employees, they will find other jobs. Having the right commercial insurance can provide the financial resources to pay employees while the business is rebuilding.
We take the time to research and investigate the unique challenges your particular industry may have for insurance concerns and then we develop a custom package that addresses your risks. We also look at other vulnerabilities your business may encounter according to your location, personnel, and even future plans.
At Heaton Bennett Insurance, we pride ourselves in effectively and efficiently evaluating your business insurance needs in Austin, Texas. Nobody knows your business better than you and nobody knows business insurance better than Heaton Bennett.