If you’re an employer in Celina, TX, it’s paramount that you understand the workers’ compensation requirements to ensure your employees are adequately protected. This understanding can help you find the most suitable insurance plan from Rasor Insurance for your specific needs.

Understanding Workers’ Compensation Requirements

In Texas, the workers’ compensation requirements operate as follows:

• Private Employers: Though private employers must comply with regulations, they are not mandated to carry standard workers’ compensation insurance.
• Public Employers: Local or state government entities and organizations must offer workers’ compensation coverage for all their employees.
• Optional Coverage: Private employers can provide workers’ compensation insurance without implementing an alternative benefit plan. However, if they opt out of an alternative benefits plan, they must present coverage that is as valuable or superior to regular compensation benefits.

Requirements for Workers’ Compensation Insurance Carriers

Any business offering workers’ compensation insurance must do so through the Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC). Choosing the right insurance carrier can profoundly influence how you operate and provide employee coverage.

Ensuring Proper Reporting and Compliance

As an employer in Celina, TX, you must adhere to the state’s reporting regulations and requirements. This process involves maintaining accurate records of workplace illnesses and injuries. Additionally, reporting work-related injuries to your preferred insurance program within eight days of becoming aware of the injury is essential.

If you’re an employer in Celina, TX, and interested in learning more about your coverage options regarding workers’ compensation, Rasor Insurance is here to help. Contact Rasor Insurance today for a consultation and review of your legal rights and responsibilities before recruiting your own team.

When you visit Rasor Insurance to purchase commercial insurance for your Celina, TX business, you will find many opportunities to customize your policy. One option we recommend to every business, business interruption coverage, protects your business from financial loss in various situations.

Business Interruption Defined

Any naturally occurring event that causes your business to cease functioning for a period of time qualifies as a business interruption. Examples of this include wildfires, tornados, earthquakes, etc. A fire at your place of business also qualifies. Although not a natural hazard, if your boiler breaks down and you had it listed under potential risks covered by business interruption coverage, it covers that, too. Some policies cover shut down by civil authorities. Most policies no longer cover pandemics. Ask your insurance agent specifically what the policy you intend to buy covers.

How Business Interruption Coverage Helps

Business interruption coverage pays you for the business income lost during the event. You must show specific lost income using accepted accounting methods. If the event occurred but did not cause a loss of business income for your company, you cannot file a successful claim.
By adding this coverage to your commercial package, you will also obtain operating expenses payments, funds for loan payments, payroll, taxes, and to pay rent on a second location so that you can re-open.

Buying Business Interruption Coverage

You can only purchase this type of coverage as a part of a larger policy. We offer this coverage as an add-on rider.

Contact Rasor Insurance in Celina, TX for more information on business interruption coverage. Let us help you protect your business from loss.

Anyone looking to start their own company will want to consider doing so in Celina, TX. This is a growing community that offers a lot of benefits to small business owners. When you build a company here, you will have various choices along the way. One crucial choice will come when you build an insurance plan. A commercial insurance plan offers multiple forms of support that can help you and your business. 

Liability Risk Mitigation

One of the ways that a commercial insurance plan can help your Celina business is by mitigating your liability risks. There are always risks that come with running a business. If you are found liable for damages incurred by a customer or other party, you will be responsible for restitution. Your commercial insurance plan will provide support in these situations. 

Protect Business Assets

Business owners must also ensure that their company assets are covered and protected. When you have commercial insurance, it can be used to cover all assets owned by your organization. The proper insurance in place helps to ensure you can repair or replace these assets if they are stolen, damaged, or incur another type of loss. This can help to minimize disruption and allow you to avoid significant setbacks. 

If you are going to be a business owner in the Celina, TX area, you always want to be assured that you are adequately insured. One of the best ways to insure your company is by getting a commercial insurance plan through Rasor Insurance. Many choices need to be made when you are looking for coverage, and Rasor Insurance will offer any guidance you need to build a policy that adequately covers your business. 

Business ownership in Texas is no easy feat – it takes years of planning, strategy, raising and saving money, all while making personal sacrifices so you can achieve your dreams. 

Once you’re open for business, one of the most essential pieces of the puzzle to protect your business is commercial insurance. The team at Rasor Insurance is here to help business owners in Celina, TX with all their insurance needs; keep reading for more on how we can help your business in Texas. 

Commercial insurance can protect your assets, investments, employees, inventory, and much more. If you have a building or brick-and-mortar store, these can also be protected by an insurance policy. If you have a fleet of vehicles, commercial auto insurance is highly recommended. 

If your building becomes damaged, vandalized, or your inventory is stolen, commercial insurance can provide coverage that you would otherwise have to pay for out of pocket. That kind of financial ruin can be lethal to a small business; don’t put yourself in harm’s way just because you don’t know what kind of plan you should buy. 

Rasor Insurance is here to help. Many businesses just go with a cookie-cutter, standard plan so they don’t have to spend too much time dealing with insurance. While we understand this approach, we highly recommend working with an agent who can deal with all the fine print for you. Our team will set you up with the policy you need, based on your business goals, strategy for scaling up, and current growth. 

This leaves you with the opportunity to do what you love – run the business. Our commercial plans are not one size fits all; they can scale as your business does. If you’re in the Celina, TX area, contact us today! 

Those that are going to start a business should consider starting in the Celina, TX area. This part of the state offers a lot of support to local businesses and can offer a lot of opportunities. If you want to be a business owner here, you need to choose a good insurance plan. A commercial coverage plan should be obtained for a few reasons. 

Protect Their Business

A primary reason that anyone should get a commercial insurance plan in this area is so they can protect their business. There are a lot of risks that business owners face on a daily basis. This can include the risk of being named liable in a lawsuit or losing core assets in a fire or other accident. If you are properly insured with commercial coverage, you will be protected against these concerns. 

Ensure Compliance

You should also get commercial coverage for your business to ensure you are compliant with any insurance requirements. When you are looking to start and grow a company, it is likely that you will need to take out a loan, lease a building, or enter into various vendor contracts. In many of these cases, you will need to sign a variety of contracts and agreements which may include setting insurance requirements. A proper commercial coverage plan will help you comply with these requirements.

When you are looking to properly insurance your business in the Celina, TX area, it would be a good idea to start your search by speaking with Rasor Insurance. There are a lot of complexities that come with choosing an insurance plan and Rasor Insurance will make it easier for you. This can help ensure you enter into an insurance policy that will protect your company and keep you in full insurance compliance. 

Major disasters like fire, tornadoes, and hurricanes can devastate your small business in a short amount of time, leaving you to pick up the pieces after. By taking measures to protect your enterprise against disasters, you stand a better chance of recuperating your losses. The following tips from Rasor Insurance can help safeguard your Celina, TX enterprise against disasters.

Maintain Adequate Insurance Coverage

Make sure your business has the coverage it needs to protect you against disasters. This includes property and business interruption coverage. Property insurance will protect your building, business equipment, and inventory against damage or a total loss due to a disaster. Business interruption helps cover loss of revenue, payroll, and other vital business expenses while your business is closed for disaster repairs.

Create a Disaster Prep Plan

If your business doesn’t have a disaster prep plan, now would be a good time to make one. This plan should include: 

• Evacuation routes for workers in case disaster strikes during work hours
• Delegated tasks for supervisors so everyone knows what role to play during and after a disaster.
• A plan for communicating with employees, customers, and the public after a disaster
• Options for remote work to keep business operations going during disaster recovery 

Ensure that all workers are familiar with the plan to know what to do if and when the time comes.

Back-Up Essential Data

Ensure your essential data is backed up in the cloud or copies stored safely off-site, so you don’t lose vital information if and when disaster strikes. This includes employee and customer data, financial records, insurance records, tax forms, etc. Easy access to this data is key to helping you recover from a disaster.

For information on commercial coverage to protect your Celina, TX business against disasters, contact Rasor Insurance.

One of the many challenges you face as a small business owner is protecting your company against unforeseen disasters that can cause financial ruin. Commercial insurance from Rasor Insurance can provide the protection your enterprise company needs.

The following coverage offers small businesses in Celina, TX essential protection against almost any eventuality: 

Property Damage Coverage

If your business operates out of an office, warehouse, or shop, you need property insurance to cover damage to your building in the event of a fire or natural disaster. A severe storm or tornado could devastate your building and destroy its contents. Property coverage protects your building, business equipment, and your inventory against such perils as fire, smoke damage, storm damage, wind damage and more to help you recover from your loss.

Liability Coverage

If your small business receives customers on-site, there’s the risk of someone having an accident that causes them bodily harm. Accidents could lead to lawsuits if you’re held responsible for damages. Liability insurance protects you against liability claims for injuries or property damage to preserve your business assets. If you’re sued for damages, liability coverage pays your legal fees and settlement, up to the limits of your policy.

Business Interruption

There may come a time when your business has to close down temporarily due to damage from a fire or natural disaster. Closing up shop, even for a short time, will cut into your profits, resulting in financial loss. Business interruption compensates you for loss of revenue and other business expenses to make it easier for you to get back on your feet after a disaster.

Worker’s Comp

If your business has employees, Texas requires that you obtain worker’s comp insurance to protect your workers against accidental injuries on the job.  

Call or visit Rasor Insurance in Celina, TX  for all your commercial insurance needs.