Compared with other areas of the country, Houston has long enjoyed a strong and growing economy due to the diversity of our industries and business-friendly tax laws. Because of our robust economic growth, businesses must compete even more with their competitors to gain an edge and win a larger share of their market. One way that businesses can stay ahead of their competitors is by a full range of quality commercial insurance. In today's blog post, we'll look at three competitive advantages that come with having quality business insurance for your business.
Secure Larger Contracts
One of the primary benefits that come with being a well-insured business is that it allows your company to secure large contracts and work with major companies and governmental agencies. Many of these large entities require proof of several different types of commercial insurance, including Workers Compensation, General Liability, Commercial Auto coverage, and even Excess Liability coverage. Too often small businesses make the mistake of skipping most commercial coverage, preventing them from bidding on or winning large contracts due to contractual requirements.
Greater Lease and Rental Flexibility
Another benefit of having quality commercial insurance coverage is that it allows businesses to meet lease or rental requirements from commercial landlords or retail property managers. Commercial property owners and management companies typically require tenants to have specific types of commercial coverage in the event of a disaster such as fire, theft, utility interruption, or serious accident on the property. Competitors without proper commercial coverage might not be able to rent their desired retail or restaurant space because of their lack of coverage, forcing them to rent or lease in undesirable locations or inadequate facilities.
Compliant With The Law
Finally, having quality commercial insurance coverage means a business will likely be in compliance with local, state, and federal laws and regulations. Vendors and clients can know that they are choosing a reputable company to work with when a company has Workers Compensation coverage, as well as other applicable laws and regulations regarding insurance coverage. They are more likely to choose a company adhering to OSHA regulations, labor laws, and local ordinances than those that ignore the law or are not fully in compliance because of the added risk they face as a client.
No matter what your business size or industry, quality commercial insurance coverage can go a long way in improving your business opportunities and protecting your business assets. Aegis Insurance & Financial Services is pleased to partner with many of Houston's growing businesses in order to provide them with financial security in the event of a disaster, and peace of mind as they focus on the growth and success of their business. Aegis offers a full range of top-quality, reliable commercial insurance options, all at competitive rates. Contact Aegis today at 713-850-7622 for more information about our Business Owners Policy, Commercial Auto, Commercial Property, General Liability, and Workers Compensation coverage, or go online for a free quote today!