Becoming a business owner in the Arlington, TX area can be a great long-term career option. The strong economy and local demand can make it a great place to be a business owner. If you own a business here, you will want to get the right insurance for it, including general liability coverage. There are various reasons to obtain this coverage.
Reduce Risk of Liability
The most important reason for someone to get general liability insurance is to reduce their liability risk. There is always a chance that your business could be held liable for damages incurred by another party. If you have general liability insurance, it will provide coverage against this risk. If you are found liable, this can help to offset any damage you incur.
Comply with Requirements
Another reason to get a general liability insurance plan for your business in Texas is to comply with any requirements. There are various situations when a company here will be required to get general liability insurance. If you take out a bank loan, lease a place of business, or sign certain vendor agreements, there is a good chance that liability coverage will be necessary. With this insurance, you will comply with these requirements.
General liability insurance will always be a good idea for coverage if you are a business owner in the Arlington, TX area. When you are ready to start looking for a new insurance plan here, it would be wise to call Strack Insurance Services. You need to make many choices when evaluating your options, and Strack Insurance Services can ensure you can choose a plan that will adequately cover you and your organization.
At Strack Insurance Services, serving the greater Arlington, TX area, one of the questions that we are often asked is whether a landlord or a property manager can require you to obtain renters insurance. Read on to learn the answer to this question.
What Is Renters Insurance?
Renters insurance protects the renter’s belongings against unexpected events, such as a fire or a pipe bursting and flooding the rented property. In addition to compensating the renter for the property that may have been damaged or destroyed in an unexpected event, renters insurance also helps pay for housing. At the same time, the rented space is being repaired. Finally, renters insurance helps to cover property against theft as well.
Can a Landlord or Property Manager Require You to Obtain Renters Insurance?
In Texas, it is legal for a landlord or property manager to require you to obtain renters insurance, as long as it is included in the lease agreement. They cannot legally require you to obtain insurance if it is not included in the lease agreement. However, even if they do not require it, renters insurance is something every renter should have to help protect their belongings. Many renters incorrectly assume that homeowners insurance will cover their belongings if there is an unexpected event, but unfortunately, this is not the case.
Landlords or property managers can require you to obtain renters insurance as part of your lease agreement. And even if it is not needed, it is still strongly recommended that every renter obtains this type of insurance. Strack Insurance Services is here to assist you if you want to obtain renters insurance in the greater Arlington, TX area. Contact us and let us help you obtain the renter’s insurance you need.