If you’re a small business owner who is looking for the best way to ensure your company, then a business owners policy—better known as a BOP—is a great way to start. It makes sense for many companies to carry this coverage because it offers several types of commercial insurance in one place. As a result, this single plan can often substantially reduce your overall cost for coverage.

All the same, BOPs are not all-inclusive. In their standard forms, they generally only offer commercial property, general liability and business interruption coverage. As a result, the pragmatic policyholder should always consider expanding upon their benefits portfolio.

Adding Benefits to Your BOP

By adding coverage into your BOP, you’ll be able to account for the fact that you sometimes might face liabilities that are separate from those covered under standard BOP benefits.

The following are four types of critical benefits to commonly added coverage to BOP plans. In most cases, workers’ compensation and commercial auto insurance benefits must be purchased separately from BOPs. However, EPLI and E&O benefits are sometimes available as BOP endorsements.

1. Professional Liability Insurance
Often, professional service providers—lawyers, CPAs, doctors—need this benefit because it is their services themselves that might cause harm to clients. This benefit covers more than just someone slipping and falling in your store. Rather, it covers instances like one where a CPA makes a mistake on a client’s taxes and then gets sued over the resulting burden. This benefit is sometimes known as errors & omissions (E&O) insurance.

2. Employment Practices Liability Insurance
Businesses are required to conduct their hiring, retention, review and termination practices in compliance with employment law. Failure to do so might result in allegations of harassment, discrimination, failure to hire or promote, or unfair termination. Should legal action arise as a result of these incidents, then an employment practices liability insurance (EPLI) policy, will help you defend against the claims.

3. Commercial Auto Insurance
If your business owns or operates vehicles of any kind, then you will need to insure those vehicles in compliance with both state and interstate auto insurance laws. A commercial auto insurance policy will offer you the necessary liability, physical damage and related benefits for your needs. It will ensure that you will have protection if you ever face unexpected vehicle damage or losses.

4. Workers’ Compensation Insurance
Another insurance benefit that most businesses are required by law to carry is workers’ compensation insurance. It will provide supplementary income, medical benefits and other assistance in the event that one of your employees gets injured or becomes ill as a result of their work.

Our agents are happy to work with you to optimize your BOP’s benefits and your other policies in the most efficient ways.

Most small business owners choose to invest in business owners policies—also known as BOPs. Put simply, BOPs can help business owners easily optimize their commercial insurance. BOPs usually contain several types of insurance, including commercial property coverage. This is an important form of coverage, as it can protect your business assets and possessions when damaging incidents occur.  

Why BOPs Are Valuable  
BOPs generally cater to the needs of small businesses. Through BOPs, business owners can obtain several types of coverage all in one package, thus ensuring cohesive insurance. BOPs are usually more affordable than separate policies.  

To start, most BOPs usually offer commercial property, general liability and business interruption insurance. However, policyholders can usually add extra coverage to work in conjunction with their BOPs. Doing so can allow them to properly expand their business insurance benefits. 

Commercial Property Coverage in a BOP  
The commercial property insurance within a BOP can help protect any property owned by your business. Some items this policy might cover include:  

• Buildings 
• Furnishings and certain fixtures 
• Equipment and materials 
• Inventory  

Should a hazard damage or destroy this property, your BOP’s commercial property coverage can pay to help you rebuild, restock or replace lost items. A variety of hazards might qualify for claims under your coverage, such as:  

• Fires  
• Theft and vandalism  
• Storm damage  

Commercial property insurance can then indemnify you for the costs caused by the lost property. This means you won’t have to spend hard-earned income trying to recover from a loss. That way, you can easily get your business back on its feet.  

Limits, Exclusions and Deductibles  
Keep in mind that your BOP’s commercial property insurance won’t cover every type of property from all potential losses. Consider these policy limitations:  

Policy limits—When you sign up for your BOP, you can choose the value of commercial property coverage that you want to carry. This reflects the maximum amount that your policy will pay for your physical property losses. It’s important that you choose a value that reflects the cost of the property you own—including buildings, inventory and equipment, among others. Be sure to verify the cost and value of your property through appraisal or research.  

Exclusions—Commercial property insurance will not extend to all property-related losses. For example, this coverage might not insure certain specialty equipment or outdoor items. Such a policy also won’t cover damage from certain hazards, such as floods or any intentional damage you may cause. 

Deductibles—Most commercial property coverage comes with a deductible. The deductible is a flat amount that your business agrees to pay for property damage before your insurance pays out for a claim. If the damage falls below the cost of your deductible, then you will not receive coverage for your losses. 

When putting together your BOP, remember to talk to one of our agents about how to optimize your commercial property coverage. By carefully crafting your policy, your business will receive maximum financial benefits. 

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​Anyone who's been through a flood knows that recovering after this kind of disaster isn't easy. You're forced to accept that irreplaceable family treasures and memories may be gone forever, your furniture is destroyed, potentially along with your home. It's a devastating and emotional moment and a lot to take in all at once. But you know the only thing you can do is move forward, and begin the steps needed to restore your home.

As soon as the floodwaters recede, you can return to your home as long as officials give the OK to do so. Before entering your home, however, make sure it is safe!

Tips for staying safe upon return:
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• Check for structural damage and use extreme caution. One way to do this is to check if the walls are vertical and straight.
• Turn off the electricity in your home at the main breaker or fuse box. Make sure you stand in a dry spot to do this! If you can't stand in a dry spot, call an electrician who will take care of the risk.
• Turn off the gas. If you smell something unusual, leave immediately and call your gas company from another location.
• Check your sewage system. Repair damaged septic tanks, cesspools, pits and leaching systems as soon as possible. These serious health hazards.
• Take precaution when inspecting your home. Your home may have sagging ceilings and areas that are still flooded. Also beware of critters like snakes, spiders and rodents that may have taken refuge in your home!

Bring waterproof boots, a first aid kit, cleaning supplies and a battery-powered flashlight with you before entering the house! You never know what you'll run into.

Tips for claim reporting: Another important step to take when recovering from a flood is reporting your loss immediately to your insurance agent or carrier. While flood coverage is typically not provided under most homeowners and renters policies, flood insurance may be available to you through the federally regulated program known as the National Flood Insurance Program (NFIP). If you need assistance to locate your flood insurance carrier, you can call 1-800-621-FEMA (3362). A claims adjuster should contact you within a day or two after report of the claim, depending on the severity of the flood event.

When reporting a claim, you should have the following information available:

• Your name and address
• Policy number
• Date the loss happened
• Description of events that led to loss
• Active phone number
• Confirm what's covered under your NFIP policy (some policyholders may only have building or personal property items coverage, not both)

Tips for inspections: The next step, according to the Federal Emergency Management Agency (FEMA), is to prepare for your inspection. After deeming the structure safe for entry, take as many photos or videos of the flood-damaged property on the outside and inside. Take pictures of high-cost items as well like washers and dryers, hot water heaters, televisions and kitchen appliances. It's also a good idea to separate the damaged from undamaged items prior to the inspection.

When the adjuster arrives, they will inspect your property including taking measurements and photos and give you an overview of the NFIP flood claims process. Remember that some flood insurance claims are more complex than others. Some may be opened and closed quickly, while others may take weeks or even months to resolve.

If your vehicle was also damaged in a flood event, it's best to call your auto insurance provider to see if you're covered for the loss.

​Contact us today for a  free Flood Quote. 

Snow-mageddon in February 2021 hit all Texans hard.

Many of our customers had losses due to frozen pipes.


It’s hard to think of a worse start to a winter day in Texas than turning on the faucet and … nothing. Maybe there’s a trickle of water, but it’s clear you have a frozen pipe. So, what now?
Here are some smart tips to help you prevent or address what could easily become a very messy and expensive situation:


·        See to your outdoor water lines: Before cold weather arrives, drain water sprinkler and swimming pool supply lines, and remove, drain and store outdoor hoses. If possible, close inside valves supplying outdoor hose bibs, and open the outside hose bibs for draining. Keep them open so any remaining water can expand without breaking the pipe. If you can't shut off the water from the inside, pick up some foam faucet covers.


·        Keep your home warm: Maintain an interior temperature of at least 55 degrees Fahrenheit, even when you’re sleeping or not at home. Seal any drafts and leave interior doors open to help keep an even temperature from room to room.


·        Tend to those pipes: Leave the cabinet doors open in the kitchen and bathroom so your pipes aren’t shut off from the warm air. You can also insulate your pipes with sleeves, heat tape or heat cable. Insulation is especially important in unheated areas, such as your attic, basement, garage or crawl space, and for pipes running along exterior walls. During severe cold spells, you may want to leave all faucets, both hot and cold, running at a slight trickle.


·        Call in a professional: Frozen water in your pipes can cause them to burst, meaning you’ll have a mess on your hands once that water unthaws. So, act quickly to shut off your main water supply, and call in a licensed plumber to see to the situation.

Finally, be sure to touch base with us at First Community Financial Group to check whether you’re covered for the damage a frozen pipe may cause. We’re happy to answer all of your policy questions this winter, and beyond. 

Insurance Products - Insurance Information - FIRST COMMUNITY FINANCIAL GROUP, INC. (firstcfg.com)
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Report a Claim - File Insurance Claims - FIRST COMMUNITY FINANCIAL GROUP, INC. (firstcfg.com)

What is professional liability insurance?

Professional liability insurance protects individuals and companies from assuming the full cost of defending a lawsuit that claims negligence of the individual or business. A claim of negligence, malpractice or misrepresentation is not covered under a general liability insurance policy, which makes professional liability insurance crucial for those who provide a service or advice for a fee. Depending on the profession, professional liability insurance may take on different forms and names, like malpractice and E&O insurance.

The number of liability lawsuits against professionals has increased in recent years. Many professionals within a variety of industries are at risk of being sued, whether the charges are valid or unfounded. Such lawsuits can mean financial ruin both professionally and personally, including the loss of cars, homes and careers. Professional liability insurance helps with the financial burden of these events.

Who benefits from professional liability insurance?

Any professional who provides a service, expertise or advice to clients for a fee can benefit from coverage against liability lawsuits. Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Professional liability insurance will protect your business and its finances if such an event arises.

Get started today

The agents here at First Community Financial Group will evaluate your business to determine its unique insurance needs and find you the professional liability policy with the necessary coverage. Call us if you have questions or want to get started. We are happy to help you get the protection you need.

Your business would not be able to succeed if the equipment, materials, stock and products that it utilizes were to become compromised. Damage, theft or destruction of property might interrupt your operations and put you in a significant financial bind as you work through the recovery process. Indeed, if the loss of property is too great to bear, then the business might fold.

If you are committed to bracing your business against this threat, then you should consider commercial property insurance to be indispensable. This benefit might be required in some circumstances, but it’s critical to have in all cases. Any business that owns property—which is more or less any business—can benefit from this plan.

What Does Commercial Property Insurance Cover?

A commercial property policy is designed to help you repair assets damaged by unexpected, unavoidable accidents that impact your operations. It might apply to losses stemming from:

• Fire
• Wind
• Hail
• Lightning
• Smoke
• Theft
• Vandalism
• Explosions

Certain instances of water damage might also be covered. However, most types of flood damage will have to be covered by a separate commercial flood insurance policy.

This insurance may cover the physical location and all of its contents including decorations, furniture, equipment, products and more. Make sure to speak with your insurance agent to ensure that your business’ valuable assets are covered appropriately.

Do You Need Commercial Property Insurance Without a Physical Location?

The days of the brick-and-mortar business are over, and today you can run a successful enterprise even from the comfort of your own home. However, commercial property insurance remains essential for your operational needs. Indeed, your standard homeowners insurance will not cover commercial property except in very limited cases.

Commercial property insurance can cover items specifically used for your business, whether they are housed in a physical location or in your home. There are property damage risks everywhere, and all of them could impact your operations. You can rely upon your commercial property insurance to help you cover the costs of repairing, replacing or recovering these items so that you can sustain as little of a financial loss as possible in the meantime.

How do I Get the Right Commercial Property Insurance?

In some cases, you will have to buy your commercial property insurance as a stand-alone plan. In others, however, this benefit will come as part of a business owners policy (BOP). BOPs provide several essential commercial benefits, including commercial property insurance, in one place. Therefore, by having your commercial property coverage as part of this plan, you’ll be able to both coordinate your benefits and pay a lower price for your coverage overall.

It is never too soon to consider protecting the physical assets of your business. Keep your eyes peeled, compare quotes and speak to one of our insurance agents about protecting your business’s property with the right coverage.

Everyone has seen a few online videos of someone slipping and falling in a random store (overturning a shelf in the process). We might laugh at the video, but we are forgetting to realize that after the camera stopped rolling, the victim might have sustained a severe injury. The ramifications of these accidents might represent a true threat to any business.

If a customer were to fall in your store, then they could choose to sue the business owner over the accident. This could cause your business significant financial challenges, regardless of whether the fall was an accident. That is why you need general liability insurance to help you respond to such issues.

What Are Common Fall Risks in My Business?
You cannot constantly blame a person’s fall just on them being clumsy. Usually, something (I.e., a hazard) must create a scenario for the fall to occur in the first place. That is why when someone falls in your business, it might be due to several existing problems, such as:

• Wet floors, leaks, and other spills
• Uneven or damaged flooring or steps
• Insecure or damaged furniture
• Falling objects
• Obstructions in walkways

And more.

When you fail to mitigate these risks, they could threaten anyone who enters your premises. Potential victims might range from customers and clients, to vendors, employees, and yourself. It is your customers who you must actively work to protect with the highest level of conscientiousness.

Negative Impacts of Fall Injuries
Every business owner doubtless is aware that they must take responsibility for negative occurrences in their space. As a result, if someone were to get hurt in your business, such as by slipping and falling in a puddle, then the affected party might place the blame on the business.

Slip and fall accidents might result in painful, incapacitating injuries. Plus, they could also cause the victim to face lost income, significant medical bills, and other financial strains. As a result, they might demand that your business compensate them.

Covering Slip and Fall Damage
If someone were to slip and fall in your business, then you will need to help the injured party. Still, you should not put yourself in a strained financial situation by trying to meet this obligation. At this point, general liability insurance can come in handy. A general liability policy could help businesses compensate others if they made mistakes that harmed these third parties. Therefore, the business will not have to pay critical internal funds just to meet its obligations to others.

Take the time to invest in a well-funded business insurance general liability policy. It might prove instrumental in protecting both your business and injured parties. Talk one of our agents today about how to tailor this value more expressly to your needs.

A certificate of insurance matters a great deal in the business insurance industry. Sometimes referred to as proof of business insurance, this certificate is a snapshot of a company’s current insurance policies. Customers, vendors and landlords commonly request to see a business’ certificate of insurance.
This document helps such parties verify the business has the proper coverage. If an insurance claim arises, the customer will rest easy knowing the proper remedy may be available.
Certificate of Insurance HoldersEach certificate of insurance applies to a single holder. The holder is the business or entity requesting the certificate of insurance. A certificate of insurance is not applicable to other businesses. Each unique certificate of insurance solely applies to its individual holder.
A Certificate of Insurance is a Snapshot in TimeIt is important to stress that each certificate is a snapshot of current business insurance coverage. These documents are valid for a single day. A business can cancel its insurance coverage at any moment. It is also possible for a business to modify its insurance policy at any point in time. For these reasons the certificates often are only temporary.
Obtaining a Certificate of InsuranceBusinesses should periodically request a certificate of insurance. This document helps generate a rapport with prospective clients. It makes the business appear legitimate and trustworthy.
An insurance agent can usually generate a business’s certificate of insurance upon request. A nominal fee may apply, but many reports are free. Some prospective customers will specifically ask to see a business’s certificate of insurance. It is advisable to hang this important document in a highly visible area of the business.
A Certificate of Insurance is a Must-Have for Every Type of BusinessIf a company can’t prove it has business insurance, it may suffer competitive disadvantage. It does not matter if you own a sporting goods store, a hair salon, a construction company or another type of business. You should periodically update your certificate of insurance as a gesture of good faith.
This simple update may inspire customers to do business with your company. It may alleviates concerns regarding potential accidents and other incidents that might arise during the course of business. Obtain your certificate of insurance today. Display it prominently to prove you have business insurance. This important document just might help your company establish a slew of new profitable business relationships.
Need a certificate of insurance? Call us at First Community Financial Group  today for a policy quote.

Whether you drive a company vehicle or your personal one for business, it’s important to have Commercial Auto Insurance.

Learn more about what this kind of insurance will cover and how it works. Call our office today for a free consultation or quote --  and click the links below to find out more about what types of insurance are available to your business!



 Commercial Vehicle Insurance 101 | FAQ | Trusted Choice

Commercial Auto Insurance 101 | Travelers Insurance
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