Commercial Insurance: Helping Texans protect their businesses since 1978
You’re a business owner who’s worked hard to start and grow your enterprise. But you know that without the right protection, one of your most important assets could be at risk. Fear not: licensed professionals at Texas State Low Cost can advise you on the right commercial insurance, tailored to meet the specific needs of your business, so you’re covered from a variety of potential risks.
There are many different options for commercial insurance. The type and amounts of coverage you purchase depend on the law, the specifics of your business, and the requirements of stakeholders such as lenders, landlords, and investors.
What does commercial insurance cover?
Liability Insurance. Any business can be sued and as a result, all businesses should carry liability insurance. Liability insurance typically pays for damages for which the business is found liable, up to policy limits, as well as attorneys’ fees and other legal expenses. It can cover medical bills of people injured on the premises of the business, depending on the policy and the circumstances of the incident.
Commercial Auto Insurance. An auto accident or other vehicle mishap could expose your business to financial risk. Business auto insurance provides coverage for vehicles owned by a business or used in the course of doing business. If the driver is in an accident, business auto insurance may protect against losses from injuries to others for which you and your employees are liable. Without the right commercial auto coverage, you as a business owner may find yourself personally responsible.
Workers’ Compensation Insurance. If one of your employees becomes sick due to a work-related illness or is injured on the job, workers’ compensation insurance can cover resulting lost wages and medical treatment. This is the case regardless of who is at fault. Workers’ compensation insurance may also limit your liability if an employee sues you for damages. In Texas, workers’ compensation insurance is not mandatory, but many business owners purchase it for the added protection.
Errors and Ommissions Insurance. Errors and Omissions Insurance (“E&O”) protects you and your company in the event that you are held responsible for services that were rendered improperly or did not achieve the expected results. For health care professionals such as doctors, chiropractors or dentists, E&O is referred to as malpractice insurance. For service professionals such as lawyers, accountants or architects, E&O is referred to as professional liability insurance.
If you are considering purchasing commercial insurance for your business, experienced agents at Texas State Low Cost are ready to help. At Texas State Low Cost we’ve been advising business owners just like you since 1978 and would be pleased to answer questions or help you find a great policy. Simply call 800-334-3943 today!