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Is Texas Windstorm Insurance Ass. the only place to get windstorm insurance for a business?
Dec 19, 2007 by Shannon G | Posted in Insurance
These people are crazy, they have gone up by 300% on the insurance of the business that we are interested in buying (in just one year). I am just curious if there is any other option or are they this high because they have the monopoly on this kind of insurance???? The business is a storage facility (a bunch of metal buildings).
If you want wind coverage, and you're near the water, then yes, Texas Windstorm is the only place to get coverage.
Go talk to a local agent. The REASON why the rates are so high, is because it's really, really high risk. The reason why they have a monopoly on it, is NO ONE ELSE WANTS TO WRITE IT. When you DO find someone else to write it, it's NOT going to be an admitted carrier, and it's likely going to be MUCH more expensive than Texas Windstorm. They aren't a real insurance company, you know, it's a GOVERNMENT insurance program, that steps in when no one else wants to write the coverage.
Yes, there are other options. DIC coverage comes immediately to mind - but that doesn't mean it's going to be CHEAPER.
Part of buying this business, should be sitting down and talking to the existing agent, and talking to your OWN agent, about coverage options. If you don't want insurance for wind, you can probably not insure ANY of the buildings for property coverage. Wind is your most likely peril of loss, except for flood, here in Texas. Oh, and flood is a seperate policy, too.
mbrcatz | Dec 19, 2007
what kind of insurance does a texas C-Corp need in order to open a business?
Oct 07, 2006 by Raj | Posted in Insurance
This would be a business manufacturing and seling a product.
mbrcatz17 has you on the right track; however, she is incorrect regarding Workers' Comp in TX. Workers' Comp is voluntary in TX. With that being said, I highly recommend you purchase it especially given the recent changes to the system (HB7).
General Liability, Workers' Comp., Property (if you own a building, have your property in a leased building, or make improvements to a leased building), and Business Auto is the bare minimum. It depends on your situation (e.g., the type of products you manufacture, how are they distributed, etc.) and what you're trying to achieve. I recommend you contact a local independent insurance agent and talk to them about what's best for you.
Good luck with your new venture.
Joey H | Oct 08, 2006
Which insurance companies offer business insurance for roofers in Texas? General Liability Ins. is needed.?
Nov 03, 2008 by Matel101 | Posted in Insurance
My husband started a roofing company and needs help finding an insurance company for general liability.
Well, with a new business, you're not going to find anyone who will write it directly. You're going to need to go through a local, independent agent. They'll get a few quotes.
You'll probably end up with Scottsdale Insurance, BUT, you can't go directly to them.
Find a local, independent agent at www.iiaa.org. And be prepared, minimum premium for ONE roofer, assuming you don't do hot tar roofs, is $1500.
mbrcatz | Nov 03, 2008
Budget writers say Texas' $11.7 billion surplus is mostly a mirage - Dallas Morning News
10.01.09
AUSTIN – Texas, unlike 44 other states that are struggling with budget shortfalls, is flush. The state expects to have an $11.7 billion surplus when it closes the books in August on the current two-year budget. Legislative budget writers, though, know that the big cushion is mostly a mirage. Because of a national economic recession, natural disasters, a low-balling of Medicaid costs and a too-sunny guess about a new business tax, Texans may not see relief on college tuition prices, much more money for school districts, more health coverage for poor kids, beefed-up research at state universities or new professional schools. "I'm in the Dr. No mood right now," said Sen. Steve Ogden, R-Bryan, the Senate's chief budget writer. House Speaker-apparent Joe Straus, R-San Antonio, while offering no specifics, said: "There's not going to be huge, new spending programs. We're going to have to be efficient, careful and prioritize carefully."
Source: Dallas Morning News, TX
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Texas business insurance - News
Budget writers say Texas' $11.7 billion surplus is mostly a mirage - Dallas Morning News
Dallas Morning News, TX - Jan 10, 2009
Budget writers say Texas' $11.7 billion surplus is mostly a mirage Because of a national economic recession, natural disasters, a low-balling of Medicaid costs and a too-sunny guess about a new business tax, Texans may not
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LV lauded for being friendly to businesses - Las Vegas Review - Journal
Las Vegas Review - Journal, NV - Jan 10, 2009
LV lauded for being friendly to businesses By JENNIFER ROBISON Vasas, owner of Las Vegas-based Vasas Business Insurance, sells policies in Alaska, California, Texas, Arizona and Utah,
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Consumer watch: Center helps people with complaints - Houston Chronicle
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Consumer watch: Center helps people with complaints "It's another avenue for consumers," said Dan Parsons, president of the Better Business Bureau of Greater Houston and South Texas.
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Galveston officials paint bleak picture after Ike - Houston Chronicle
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Canoe.caGalveston officials paint bleak picture after Ike Only about $100 million of that was covered by insurance. The massive damage at UTMB prompted the UT System Board of Regents to lay off 3000 employees and Galveston officials paint bleak picture after Ike
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Restaurant owner arrested in arson scheme - Bizjournals.com
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Restaurant owner arrested in arson scheme The US Attorney’s Office says Pinto requested that the business be burned to the ground, stating he was struggling financially because of the business and The Feds Claim That in Weatherford, a Restaurant Owner Wanted to
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