Business Insurance FAQ

If you’re in need of business insurance in the Dallas or Irving area, reach out to the team at Powell Insurance Group today for expert advice and a free quote.

Image of business insurance from Powell Insurance Group in Dallas and Irving.

What Is Business Insurance?

Business insurance is a term used to describe any type of insurance that is designed to protect your business from specific foreseen and unforeseen costs. Examples would include worker’s compensation insurance protecting the employee and the company in the event that an employee gets injured on the job or cyber liability insurance protecting your business in the case of a data breach.

What Does Business Insurance Cover?

Business insurance can cover a wide range of costs depending on the types of business insurance that you have. Some of the common instances that business insurance covers include financial losses that occur due to a lawsuit, an accident on business property, injury to an employee or customer, natural disasters, cyber threats, and more.

What Are the Consequences of Not Having Business Insurance?

The business insurance from Powell Insurance Group is designed to protect your Dallas or Irving business. Not having business insurance, or not having the right kind, can leave your business unprotected from lawsuit costs, expenses incurred due to natural disasters, on-site accident costs, and much more. Not having business insurance could potentially debilitate your business resulting in failure.

What Are the Benefits of Business Insurance?

There are many benefits to having business insurance. First and foremost, business insurance protects your business from many expenses, even some foreseen expenses such as repair and replacement costs for expensive tools and equipment. Other types of business insurance can act as a benefit for your employees, increasing retention, job satisfaction, and productivity.

Image of Dallas business insurance from Powell Insurance Group.
Image of a business who has business insurance from Powell Insurance Group in Dallas and Irving.

What Types of Business Insurance Are Available?

At Powell Insurance Group in Dallas, we offer 17 different types of business insurance. These include:

  • Truck and heavy equipment insurance
  • Charities and nonprofits insurance
  • Church, synagogue, and mosque insurance
  • General business liability insurance
  • Commercial auto and fleet insurance
  • Property insurance
  • Umbrella insurance
  • Cyber liability insurance
  • Identity insurance
  • Restaurant and convenience store insurance
  • Networks and computer security insurance
  • Errors and omissions
  • Professional liability coverage
  • Security bonds
  • Contractor performance bonds
  • Occupational accidental coverage
  • Workman’s compensation

How Do I Decide Which Types of Business Insurance My Business Needs?

The types of business insurance you need for your Dallas or Irving business will depend on the type of business you own or manage. Some businesses require more, or specialized, business insurance due to the nature of the business. However, most businesses will need workers’ compensation, cyber liability, and general liability. The team at Powell Insurance Group can help you decide which business insurance offers the right protection for your business.

Learn More About Business Insurance From Powell Insurance Group

If you own or manage a business, it’s essential to have the right business insurance to protect your company. The team at Powell Insurance Group in Dallas and Irving can help you navigate the world of business insurance to ensure that your company is protected. Reach out to our team today to learn more.