All businesses in Texas have to be insured. The type of coverage you choose is chosen according to your specific needs. Small Business Insurance in Houston, TX encompasses three basic types of coverage including commercial auto, general liability, and workers’ compensation. You can get your quotes as separate coverage or a collective coverage if you need all three. The following will discuss the basics of these coverage options for small businesses.
General Liability
General liability is designed to cover claims against your business if someone is injured on your property. It pays for personal injury, bodily injury, and property damage. It protects you against losing everything in your business if you get sued by a customer, employee, or anyone in or around your business structure. Things like contracts and agreements, product liability, loss of services, compensation for loss of life that results from an injury, and other areas of coverage that would otherwise wipe out your small business finances may also be included.
Commercial Automobile
If you use your car for your business or you have a car or fleet that is used in your business, you must have automobile insurance for them. If the vehicle is owned by the business and used for business purposes, it has to have the business name as the principal insured as opposed to your name like on your own personal vehicle. These are things you have to consider in case you have a claim filed against you in an accident involving your business vehicle. You do not want it to affect your personal policy and coverage.
Workers’ Compensation
Workers’ compensation coverage is for small businesses that employ others to work for them. Whether that means you have family, friends, or other employees, they need to be covered. It protects your business from expenses that would otherwise cause hardship at best and financial ruin at worst. It is coverage for just in case an employee gets injured or worse while on the job performing their regular job duties or for any task assigned to them.
The guidelines for Small Business Insurance in Houston, TX can be discussed with your insurance agent. If you are thinking of starting a business or you believe you are currently paying too much for your coverage, getting a rate quote is a good place to start. Budget Insurance can save you money on the coverage you need for your small business.
