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  • Types of Business Insurance - Arthur Blake Insurance

Types of Business Insurance

Business insurance can be challenging to find because it can be challenging to choose what’s covered and what’s not, how much you want to spend, etc. Multiple types of business insurance cover various things. This is good because you can choose to cover some things, but not all, or choose to cover everything with multiple types of policies. Whether you’re pocketing the money at the end of the day, the following types of insurance will protect your company’s assets in an incident.  General Liability This type of insurance is exactly what it sounds like, general coverage. This insurance is usually added to a business owner’s policy or BOP. Overall, it protects your company from lawsuits and claims from people outside of your company. Every business owner should consider adding to their BOP if it’s not already included.  Commercial Property  Another component of your business owner’s policy would be commercial property insurance. This insurance pays out if there should be damage or loss to physical property. This includes things like a business building or business vehicle. You can add additional coverage for other items for an additional fee if your industry has a higher risk of damage.  Workers’ Comp Workers’ compensation... Read more
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  • commercial vehicle insurance plano Arthur Blake distillery insurance program

5 Reasons Why Commercial Vehicle Insurance Is Essential

Using commercial vehicles for your business is a great asset to have. It can allow you to transport materials, travel to events, or deliver items, so it’s essential that your commercial vehicle be insured. We’re going to discuss the top 5 reasons why commercial vehicle insurance is essential.  1. Liability Coverage If you were to get in a wreck in your commercial vehicle, there wouldn’t only be damage to the vehicle but possibly to property and valuables as well. By utilizing commercial vehicle insurance, you will have a range of protection if or when you damage another’s valuables in an accident.  2. Physical Damage and Collision Protection In the case of an accident, you or your employees may need to pay for damage to their vehicles and others involved in the wreck. Insurance can reimburse policyholders for the costs of those repairs no matter who was at fault.  3. Medical Payment and Lawsuit Coverage If a wreck is severe enough, bodily harm can be done to those involved, which can be costly to endure. With commercial vehicle insurance, you can receive assistance in paying for medical costs, lost wages, and even legal fees if you should incur any.  4. Comprehensive... Read more
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  • cyber security insurance dallas texas

What is Cyber Liability Insurance?

Businesses face countless threats every day, and with our dependence on the internet, cyber threats are a constant. That is why cyber liability insurance is vital for nearly every business. However, as a relativity new concept, many people do not understand why they need cyber security insurance or even what it is. Therefore, to understand why cyber liability insurance is essential, business owners first need to understand cyber liability. What is Cyber Liability? In this context, a liability is anything that’s presence or function puts a business or its customers at risk. Due to our increased reliance on computers and the internet, technology has become a liability for many companies. Any business that relies on the internet to connect with customers, store data, or perform other business functions runs the risk of being victimized by cybercrime or accident. A data breach or similar cybercrimes could lead a business to ruin. Companies can lose the trust of their customers and face legal actions for their irresponsibility, all because they failed to protect customer data. In America, 55% of small businesses have experienced a data breach. Unfortunately, cyber-criminals smell blood in the water and have set their sights on small businesses. So,... Read more
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  • cyber liability insurance plano texas

Five Scenarios Where Cyber Liability Protection Is Needed

No one can deny the countless advantages technology has given businesses across the globe. However, it is also important to remember the risks that technology opens up for businesses. For example, an extremely competent cyber-criminal or distracted employee results in customer or corporate information exposure. In the wrong hands, this information could be abused, leading to ruin for the affected company. Cyber security insurance is a vital tool to protect your company from many of these liabilities that technology opens up. Here are five scenarios where cyber liability insurance could save the day. Deep Freeze A deep freeze is not a form of cyberattack, rather a human error committed by an employee. Deep freezes occur when a company’s website or network completely freezes due to a mistake. When a deep freeze occurs, customers will be unable to use the website to complete transactions. As a result, your company’s reputation will suffer, and you will lose tons of revenue in the process. Large Scale Hack and Data Breach The skill of hackers should never be understated. A skilled hacker could hack into your company’s network and have access for months. While in your network, the hacker could wreak havoc by stealing... Read more
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  • workers compensation insurance plano tx

5 Tips for Buying the Best Workers’ Compensation Policy

If you have employees but do not have a workers’ compensation policy in place, you need to drop everything you are doing, read this article, and then purchase one as soon as possible. While Texas is one of the few states that does not require employers to have workers’ compensation, work-related injuries or fatalities are often devastating for a small business. The legal fees alone are often too much for small companies to handle. However, for many business owners, the task of deciding which workers’ compensation policy to purchase can seem like too much. Luckily for you, you have the experts at Arthur Blake Insurance to help you navigate this process! Buying the Best Workers’ Compensation Policies Know Your State’s Requirements Like we said above, Texas does not require businesses to have workers’ compensation policies. However, there are regulations on the amounts and types of coverage you can purchase. Be sure to read up on those regulations here! Create a Safety Plan Not only will a safety plan inspire a culture of safety and accountability in your workplace, but some insurers offer premium discounts or credits for having a workplace safety policy in place. Remember, claims still are not free... Read more
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  • restaurant insurance plano tx

What Insurance Does My Restaurant Need?

Like every business, restaurants need insurance to protect them from the risks of having customers on the premises. However, restaurants themselves are a unique type of business, which means the risks they face every day are unique. Unique risks mean specific insurance needs! Check out this video detailing some different forms of insurance that every restaurant needs! General Liability Insurance Every business needs general liability insurance, and in this situation, restaurants are no different! Liability insurance covers any injuries or property damage that occurs on the premises. However, there is one unique form of liability insurance that every restaurant needs: product liability insurance. Product liability insurance ensures that you will have protection and the ability to cover a customer’s medical expenses if they were to get food poisoning from your food. Liquor Liability If your restaurant serves alcohol in any capacity, this form of insurance is vital. It protects the restaurant if someone injures themselves or others while intoxicated. Business Income Insurance Business income insurance has become essential in recent months due to the COVID-19 pandemic. This form of insurance ensures saves your restaurant from suffering significant income loss if your restaurant shuts down for any reason. Spoilage Insurance When... Read more
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  • Commercial vehicle insurance plano

Consider These when Buying Commercial Insurance

EVERY business, from a law firm to an auto-repair shop, needs some form of commercial insurance. However, for many business owners, commercial insurance is a complicated mess that they simply do not want to tangle with. Luckily, Arthur Blake insurance is here to simplify things! Here five of the most important things that every business needs to consider when selecting commercial insurance. 5 Things to Consider When Choosing Commercial Insurance What is Required? The majority of business owners are renting their office space or took out a loan when they started their business. If you fall into this category, most landlords and lenders will require some form of commercial insurance to protect their investment. How many employees do you have? The number of employees your company has will determine what kind of policy you need. If you have less than 100, a standard small business policy is recommended. However, if you have more than 100, you need a more robust commercial policy. Does your company use vehicles? Most personal auto policies will not cover your employees while they are driving company vehicles. So, if your company has a fleet of company vehicles, you need a commercial auto policy. Do you have employees... Read more
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  • small business insurance allen texas

Types of Insurance a Small Business Needs

Most small business owners know a lot about the services they provide, but not a whole lot about how to protect their business from uncertainty. Understanding what types of insurance are available to small business owners and determining what their business needs can be tricky. We’ve put together a list of things to consider when you’re looking at small business coverage options. Do you have employees? If you have employees, you should consider workers’ compensation insurance. Workers’ compensation insurance provides benefits to employees for work-related injuries or illnesses.  Benefits include medical care coverage, replacement of lost wages, disability, and funeral expenses if necessary. Unfortunately, some workplace injuries result in a lawsuit against your business. Workers’ compensation insurance can help cover any legal costs you encounter in those cases. What types of equipment and materials are essential to your business?  If a fire destroys the computers in your office or someone breaks into your business and steals valuable equipment, business property insurance will help replace the property. Business property insurance will also help you restore lost income if you cannot provide services without the property covered.   What is your liability risk? The trickiest part of determining what business insurance coverage you... Read more
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  • workers compensation insurance

Workers Compensation During Work From Home

As more and more businesses convert to full-time “Work From Home” during the COVID-19 pandemic, we expect an increase in claims from workers injured while on the job at home. In this blog, we provide a basic look at Workers’ Compensation insurance as applied to work from home. Are workers still eligible? And what can businesses do to help vet their claims? This is a difficult time, and money is tight for everyone. So, understanding the important aspects of the law when it comes to workers’ compensation and working from home is more important now than ever. Arthur Blake Insurance will continue to be there for you in this tough time, doing anything that we can to help you. Do at-home claims count? This question has been on every employer’s mind since working from home became the norm for most employees. Since employees are working from home, employers are increasingly worried about the possibility of workers’ compensation claims in workplaces that are out of their control. This is such a gray area because normal workplaces are crafted specifically to be as risk-free as possible. However, when employees are working from home this is not the case. There are no laws... Read more
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  • craft beverage insurance frisco texas

What Should Craft Beverage Insurance Include?

For consumers on the outside, breweries, wineries, and distilleries are just like any other manufacturing business. But for the people who run these businesses – and the companies who insure them – it’s a completely new ballgame. Craft beverage companies do have some overlap in their needs to other food manufacturing businesses, but ignoring – that is, not insuring – what makes them unique puts business owners, employees, and customers at risk. As with every industry that Arthur Blake Insurance serves, specialization is key. We design and develop custom policies for breweries, wineries, and distilleries tailored to the individual needs of each business so that every risk is assessed and there are never any surprises. To learn more and discuss your needs, contact us today. What should be in an insurance policy for breweries, wineries, and distilleries? Any craft beverage operation will need a combination of commercial insurance coverages to be fully secured. Let’s begin with the basics. All craft beverage insurance policies should include: Commercial property insurance (more on this below) Commercial auto insurance General liability insurance Workers’ compensation insurance Business interruption and extra expense coverage Product recall coverage   What makes craft beverage businesses so complex from a... Read more