Small business insurance in Texas

General liability insurance in Texas can protect small business owners if someone other than an employee is injured or suffers property damage on your business premises. It can help pay for medical bills, damages and legal defense costs.

For instance, suppose a Dallas-based contractor accidentally leaves bricks in the stairwell of a building under construction, and the property owner is injured tripping over them. The contractor’s general liability insurance coverage could help pay for the owner’s medical expenses.

Texas contractors and cleaning businesses may purchase tools and equipment coverage as an optional add-on to their general liability policy. It can help repair or replace essential gear that’s lost, stolen or damaged outside of wear and tear.

Workers’ compensation insurance in Texas can offer assistance to your company if employees are hurt on the job. It’s designed to help cover medical treatment and lost wages while the worker recovers.

Not carrying workers’ compensation insurance might seem like an easy way to save on your business costs. But, if you don’t have workers’ comp, your out-of-pocket expenses could be significant after a workplace accident.

If your Texas business owns vehicles, you’ll want commercial auto insurance. It can help cover expenses, including vehicle repairs, injuries and property damage, if you or your employees have an accident while driving for business.

It’s important to note that personal auto insurance won’t provide coverage for business-driving-related incidents.

For example, a real estate agency employee in Austin drives the company car to an open house and has an accident on the way, damaging another car and sending the driver to the hospital. Commercial auto insurance could help the real estate company pay for medical bills, vehicle damages and legal fees if the other driver files a lawsuit.

Protecting your business property, inventory and even your physical premises can help keep your business safe.

Texas commercial property insurance can help pay for damaged or destroyed business property after a covered event, such as water, fire or wind damage.

For example, a grease fire at a Plano fast food restaurant damages the cooking station. Commercial property coverage could help pay to replace the fryer and repair damage to the grill.

It’s important to read your policy documents carefully to make sure there aren’t exclusions for your business. Some locations prone to flooding or hurricane damage might have limited coverage.

Clients can and do accuse small business owners and self-employed workers of professional mistakes, even if the claims are unwarranted.

That’s why professional liability insurance is a good idea for some Texas companies. Also known as errors and omissions insurance, this coverage can help pay for expenses related to claims of professional negligence, missed deadlines and incomplete work.

Suppose an architect in Galveston is hired to renovate an aging warehouse facility. Six months after the project is completed, the building is deemed structurally unsound because the steel specified wasn’t adequate to support the building’s weight.

The architect’s professional liability insurance could help cover the expenses to resolve the issue with a redesign and repairs.