If you’re a business owner, you likely understand the necessity of purchasing commercial insurance. However, you may have questions about which type of insurance you need and which options you should choose. If your business is in the Dallas, TX, area, and you have questions about how to choose the right policy for your workers, our team at Alloy Insurance Partners will be glad to discuss our full range of policy options with you. We’ve been working with businesses in your area since 1996.

Understanding Coinsurance in Business Insurance

One of the terms you may hear our agent use regarding health insurance is "coinsurance." Some business owners believe that coinsurance is related to health insurance. However, in business insurance policies, small businesses typically use coinsurance to cover property, business vehicles, and business equipment. These clauses specify the percentage of the property’s value your business must insure to collect a full claim payment if you sustain a property or equipment loss.

The acquisition of coinsurance is helpful for the insurance company as it informs them of the potential payment they would be responsible for. The property value on which these policies are based may be related to the cash value of the property. Accepting a coinsurance policy will help expedite policy underwriting and help the insurance company determine premiums.

Contact Us Today for Your Appointment

Whether coinsurance is the right decision for your company, our team can help you understand which insurance will work. Our experienced agents can provide this knowledge to business clients in the Dallas, TX, area. Our team at Alloy Insurance Partners is dedicated to finding personalized insurance solutions for every business. Call us for an appointment today, and let’s discuss insurance options.