We Have Commercial Property Insurance Articles To Help You Invest Smarter

We Have Commercial Property Insurance Articles That Help You

Commercial Property Insurance Articles Related To All Manners of Insurance

Did you know that we have a wide range of commercial property insurance articles?   You should also know that Benchmark is a company that handles all types of insurance, no matter what the market may be. 

We Have A Variety of Commercial Property Insurance Articles

Did you also know that Benchmark produces at least three blog posts a week?  This is because we want YOU to be comfortable with insurance!  Insurance shouldn't be scary and you should not be afraid to shop the best insurance rates for you. 

In addition, while other insurance companies will simply give you general liability and call it a day, we want to know what you are doing, what risks may exist, and so forth, so that we can offer the best coverage possible. 

Commercial Property Insurance Articles For Any Niche

We also have information that is catered to many different niches.  For example, if you are a real estate investor, you may want to know about the previous claims history of your home.  Or, if you work in construction, have you considered getting workers' compensation?

We have the information you need to protect your assets and get the RIGHT insurance for your needs!

We make shopping for insurance easy, so contact us today! 

Commercial Liability Property Damage Insurance, Get Protected!

Do You Have Commercial Liability Property Damage Insurance?

You NEED To Have Commercial Liability Property Damage Insurance To Protect Your Investment

Do you have Commercial Liability Property Damage Insurance ?  If not, you need to get it, especially if you are a real estate investor, or own your own business, such as being in the food and beverage industry. 

This type of insurance WILL protect your business from the inside out; essentially allowing you additional coverage for your assets.

What Is Commercial Liability Property Damage Insurance?

In short, this type of insurance will directly protect you in the event that damage occurs to the property. Whether that means a construction default occurs, or whether that means there is simply some type of unforeseen event that happens unexpectedly.

No matter what happens, this type of insurance will offer additional protections and coverage for your investment.  

You NEED Commercial Liability Property Damage Insurance To Protect Your Investment!

Knowing the claims history of your commercial property is essential, as with being aware of all of the building components a property has, as both of these can affect your rates.  However, we simply cannot predict the unpredictable and life does happen.  That means your building can become damaged in the event of many different occurrences.

That is why it is imperative to protect your investment!  Get the right insurance today! 

What You Need To Know About Contractor Insurance

If You Are Hiring A Contractor To Work On Your Property, Then You Need Contractor Insurance

Contractor Insurance Can Help Protect Your Real Estate Investment

Do you know if your subcontractor has contractor insurance?   Further,  are you yourself a contractor or are you hiring a contractor for your investment property.

Why Contractor Insurance Is a Viable Investment

If you are hiring a general contractor, then you MUST make sure that they are insured. If they are not insured, then the insurance will ultimately fall on you, the real estate investor.  Most new investors are unaware of this fact; eager to begin or finish up an existing project.  However, even if the investor has all the right intentions, even going as far as getting homeowners insurance or general liability coverage, they must still make sure that their contractor is insured, or at least be aware of the status.

If you are hiring different subcontractors, then this makes you a general contractor by default.  This means that you need general contractor liability insurance, otherwise you can potentially put yourself at risk.

Contractor Insurance Is Not The Same As General Liability Insurance

As mentioned, general insurance is the most basic type of insurance and does not offer the full extent of coverage, especially if you are a contractor or are working with a contractor.  Thus, it is imperative to consider getting contractor insurance in order to better protect your real estate investment.

 

Workers Compensation Death Benefits, How Does It Affect You

Death Benefits Is A Component of Workers Compensation

Death Benefits Can Help Provide For A Family Through Settlement

Death benefits are often a key component of any insurance policy, whether you are getting commercial or personal insurance.  In addition, it can also be a core component whether you are on the receiving end or are looking into this benefit type as part of workers compensation.

What Are Death Benefits?

In short, death benefits is the specific amount paid to the beneficiary after the insured has died.  For instance, in personal insurance, it is the typical life insurance policy, whereas in many businesses it is a key component of workers compensation.

Death Benefits And Workers Compensation

There is no doubt that workers compensation death benefits vary by state.  In fact, in the State of Texas, worker’s compensation is not even required.  However, what happens when an employee dies while on the job?  Even if the death is not a work-related death, it may be possible to be liable, no matter the scope of industry.

This is why knowing workers compensation death claims is so important, as they can greatly vary.  For instance, it is often customary that insurance will pay 75% of the employee’s weekly salary to the spouse, for the rest of their life or until the spouse is remarried.

Thus, while worker’s compensation may not be required, workers compensation death benefits is such another reason that showcases why workers compensation benefits in Texas, even if is not required, is essential.

Finding The Best Insurance Rates When Shopping For Insurance

Learn How To Get The Lowest Insurance Rates Possible

Insurance Rates Matter! So You Need To Be Strategic When Finding the Right Insurance Company For Your Needs

Do you know how to shop for the best insurance rates?  Whether you are looking for commercial insurance (real estate insurance, construction insurance, healthcare insurance, food and beverage insurance, auto garage insurance, etc.) or personal insurance (car insurance, life insurance, health insurance, and so on) you need to be mindful of certain factors.

What Affects Insurance Rates?

There are many different things that can affect insurance rates, such as the type of industry you may be in and the kind of coverage that you are seeking. For example, if you are in the food and beverage industry, and you sell alcohol, then you may want to consider getting liquor liability.  In a general sense, your insurance rates are also affected by the type of risks associated with your individual business, such as if your real estate investment is in a high crime area.  

How Do You Get Lower Insurance Rates

First and foremost you need to consider the cost of insurance in relation to your needs.  What are you willing to pay for financial security or a viable return on investment?  When it comes to shopping for insurance, financial factors certainly come into play.  You also need to research the best insurance companies that will meet your needs while offering you key coverage for any liabilities that might occur.

Thus, you primarily get the best rates by shopping around for insurance.  You can also get lower rates through lowering any potential risks involved in your investment.  For example, if you have a real estate investment you can get updated roofs, wiring, air conditioner, and so forth.

Here’s A Few Reasons Why You NEED Workers Compensation!

Do You Know What Benefits Workers Compensation Offers?

Workers Compensation Benefits Are Vast and If You are a Small Business Owner – You’ll Need to Know Why!

The first thing you need to do as a small business owner, is to figure out whether or not your state requires Workers Compensation.  For the State of Texas – workers compensation is NOT required.

That said however, the question then becomes - should you still obtain workers compensation?

Why You Need Workers Compensation

The answer to this is a resounding yes!  Workers comp benefits are vast, and this is because it offers a mutual benefit to both employers and employees.

Consider, for example, that without worker’s compensation your employees are not covered if they have any injury caused on the job. In addition, it is estimated that there was approximately 95 billion paid to workers comp carriers last year. Coupled with that is the fact that it is also estimated that there is over 4,000 deaths a year due to work related accidents and illnesses, such as breathing in bad air.

As a whole, YOU need worker’s comp.

How Do You Get Workers Compensation?

Getting workers compensation for your employees is relatively easy, no matter what scope of industry your business falls into.  To get it, first determine what type of industry your business resides in.  It is also important to consider the following:

  • The types of employees you have under you (contractor, for example)
  • The type of work that they do (roofing, for instance)
  • The number of employees
  • Compensation

These are just a part of the information that your insurance agent will need t o know.  It is always important to open up a dialogue and voice any concerns that you might have.

 

Insurance Settlement, Why Do They Occur?

Why Do Insurance Companies Go Forward With An Insurance Settlement?

Insurance Settlements Often Occur Because of Specific Strategies

An insurance settlement can occur all the time, as made apparent by the many commercials asking policyholders who have won some type of suit to collect their check, or simply knowing an individual who has received an insurance settlement.

However, as a policy holder, you may wonder why an insurance company might choose to settle and what that might mean for you.

What Is An Insurance Settlement?

In short, an insurance settlement is the payment or series of payments paid out by the insurance company to the insured in order to make good on a specific insurance claim.  The amount is typically determined based on a case by case basis and is typically also based on prior stipulations, set forward for the policy holder(s).

Why Does An Insurance Settlement Occur?

In general, it is because insurance companies do not want to pay over time or they typically find that they can reach an insurance settlement for a lower amount as opposed to potentially running the risk of a higher payout.  Long term injuries, especially those with chronic conditions, mean that the insurance company stands to pay out over a longer length of time. They do not want to do that!

There have been many cases in which employees are injured and that injury will be sustained over a period of time.  For example, if an employee injures their back, then it is not out of the ordinary that they will have chronic pain, require long term treatment, and so forth.

Thus, more often than not, insurance companies are eager to settle in order to avoid paying out in the long run.

It is important to know your rights!  We can help you navigate through many different types of insurance needs and answer any questions you may have.

What Exactly Does Workers Compensation Cover?

Do You Need Workers Compensation?

Workers Compensation is a MUST Have, No Matter What Your Scope of Industry Might Be!

You may know that the state of Texas does not require workers compensation, but do you know why you NEED to get it?

What Is Workers Compensation?

In essence, workers compensation is insurance coverage that provides medical expenses, rehabilitation costs, and lost wages to employees who are are hurt on the job, whether that means they become ill or suffer a physical injury.  In addition, workers comp can also pay death benefits to family of the deceased individual killed on the job.

What Does Workers Compensation Cover?

Consider everything that workers compensation covers.  In essence, it covers employees, of any type of industry, and any injury that might occur – if they slip and fall, if they cut their finger, or if they suffer another, more serious type of injury. Essentially, anything medical, whether that is a physical illness or injury.  Keep in mind, this also means in the scope of the job as well.  Thus, if the employee gets hurt on vacation, then this would obviously not be related/covered.

Workers comp also covers loss of wages, their generally weekly salary, until the employee is back at work. Again, this is across industries.

What all of this means is that your company stands to benefit, because it adds additional coverage.  In short, workers comp is an essential must-have for the company and its employees.

Why General Liability Insurance Isn’t Enough

General liability insurance is, as the name suggests, extremely general.  It essentially covers the basic needs and requirements set forth between the insurance company, and as agreed upon by the policy holder.   Exclusions, then, are what would not be covered by  general insurance, and as such, could potentially leave the policy holder at risk.

Why Isn't General Insurance Enough?

As mentioned, general liability insurance only covers a specific amount, as set forth by the insurance company.  This would not cover any exclusions that might apply.  For example, if you are in the real estate industry and you want to flip a property and therefore need to hire a contractor, general insurance will not cover contractor lawsuits or injuries.  This is because you need a separate contractor liability insurance policy to ensure coverage.

In another example, if you are in the food and beverage industry and you sell liquor liability, then you may need liquor liability insurance, especially if you sell more than 50% alcohol.  General liability insurance simply may not offer coverage.  Thus, if you have a patron that leaves leaves your facility drunk, and then gets into a car accident, you may be liable.

What Do You Need Beyond General Insurance?

In short, general liability insurance is extremely broad and, as mentioned, it may not be enough to offer enough coverage, should a discrepancy occur.   This means that you need specific additional coverage that would maintain coverage for your specific industry.  As mentioned, if you are in the food and beverage industry, you may need liquor liability and so forth.  No matter what commercial industry your business resides in, we can find the right insurance for you.

 

Need Commercial Insurance? We Work In Multiple Industries and Niches

WE CAN PROVIDE INSURANCE FOR ANY INDUSTRY

If you are in the market for commercial insurance, then you should know that Benchmark works in multiple industries and niches.  Thus, if you are a small, medium, or large business that specializes or works in a general industries; here's how we can help you:

Types Of Commercial Insurance Offered

Benchmark specifically specializes in Real Estate: real property, multifamily insurance, storage insurance, landlord insurance, retail shopping centers, and more!  This means that if you work in any kind of real estate, whether it is flipping houses or utilizing commercial property, we can help you.

However, also keep in mind that we also work in multiple industries and niches. From restaurants to auto garages, worker’s compensation, and more; if there is an insurance need, we can fulfill it.

Why Commercial Insurance Is Important

Commercial insurance is wholly different from personal insurance because you are insuring a business rather than a person.  Businesses, have their own specific needs and this would largely depend on the industry.  This is why it is extremely important to sign with an agent that best understands, not only your own business needs but the requirements and needs of the industry as well.

In addition, as a broker, there is essentially no limitations to what we can and cannot write. In addition, it is paramount to build solid relationships with underwriters.

This means that, on average, we are able to negotiate rates 80% – 90% down.