Commercial insurance FAQs

Owning a business means that you face risks every day of the week. It is hard to survive all of the risks. Having the right commercial insurance can go a long way to making it easier to remain in business no matter what happens. We at NavSav Insurance in Spring, TX are independent agents, which means we can customize your insurance products for you and your business. We have access to a variety of top carriers. 

Commercial insurance FAQs

Is any commercial insurance required in Texas?

Texas is one of the few states that has no requirement for commercial insurance at all, not even workers’ compensation. But that doesn’t mean that it is a good idea to go without them. Without workers’ compensation insurance, you open your business up to legal action if an employee is hurt on the job and decides to sue you for medical expenses and lost time. 

What is BOP? 

A BOP is a business owner’s policy. It is a combination of lines that usually allows you to get a better rate. The two most common elements in a business owner’s policy are commercial property insurance and commercial liability insurance. You do have the option to add business interruption insurance to the other two for more complete protection. 

Do you have to own your building to benefit from commercial property insurance? 

No, a commercial property policy is not just about the building that houses your operation. It is about the things you need to do business. This can be office equipment, tools, machinery, inventory, raw materials, furniture, records, display units, cabinets, and whatever it takes for you to be able to conduct business. 

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Contact NavSav Insurance in Spring, TX when you are in need of help with your commercial insurance. We will help you to choose the right coverage for your business.

Preparing and storing a home inventory

Without a doubt, making a home inventory takes time and is a lot of work. Having stated that, it is still very important to do. If a hazard should hit your home, it will be upsetting, to say the least. You may find it difficult to try to put a list together of everything you have lost. At NavSav Insurance in Spring, TX, we will be here for you from beginning to end and when you file a claim we will be right there with you. 

Preparing and storing a home inventory

You can start your inventory in any room. Some people may prefer to start with the main rooms and others may prefer to go to the bedrooms. Have a large notebook and a pen and choose whichever room makes sense to you. Gather together any receipts or sales slips that you have and put them together with the description that they apply to. Let your eyes go up and just write down everything that you see. Open drawers, closets, and cupboards and write detailed descriptions of what you see. 

Go from one room to the other, take pictures from different angles and try to include any of the more expensive items in the photos.  

Once you have gotten everything listed with lots of detail, it is time to find a place to safely store your inventory. It is ideal if you can get it away from your home. A safe deposit box is a good option. If you must store it at home, be sure that it is in a container that is fire resistant and waterproof. Keeping a copy in the cloud is a good option so that you can easily get to it no matter where you are. 

Contact NavSav Insurance in Spring, TX when you are in the market for a home insurance review or a new carrier.