Is Commercial Insurance Required in Texas?
The state doesn’t require you to have any insurance, including workers’ compensation insurance, although, it is recommended to protect your business.
Different Commercial Insurance in Texas
If you have a business in Texas, there are several different insurance options to protect your employees and your business income. An agent at Texas Independent Insurance can help you find the right policies for your business.
- Business Owners Policy: This is a combo of business property insurance and general liability insurance in one policy to meet the needs of your business. This can be useful for small businesses with a physical location and business assets that can be taken or damaged.
- Business Income Insurance: With this insurance, your business can replace income lost when you aren’t able to operate due to a covered property loss, such as after a fire, lightning strike, or theft. It can protect your business from different risks.
- Professional Liability: This insurance will cover your business if you are found negligent with the services you provide. If you work directly with customers to provide a service, you may want to consider this insurance.
- Workers Compensation: While this may not be required, it can still benefit employees and protect you from any workplace illnesses or injuries. This includes lost work time, medical care, and more.
- Commercial Auto Insurance: If your business has automobiles, personal auto insurance won’t cover any work-related accidents or damages.
- Data Breach Insurance: Your business faces risks from using technology. This includes hacking and breaching. In order to protect yourself from these risks, many businesses add this insurance. It can help your business respond to breaches and offer protection for a small business owner.
- Property Insurance: If you don’t get a business owner’s policy, you can still get property insurance on your own if your business inhabits a space, and you have assets to protect, such as work equipment.
Contact Texas Independent Insurance to get a quote on commercial insurance.