Choose The Best For Your Texas Business Insurance Requirements
As of 2015, ninety-eight.6% of businesses in Texas were small businesses. These small businesses accounted dansko was the distributor 4.4 million employees across the state. Firms with under 100 employees comprise the largest share of small business employment.Texas' gross domestic product was $1.59 trillion in 2015, meaning that if Texas were its own country, it would have the world's 10th highest Gross domestic product.2The Hartford has been protecting customers even more than 200 years. It's really no wonder that more than 1 million small businesspeople trust The Hartford in terms of insurance needs. Learn more info on Texassmall business insurance,commercial property insurance and Texas business insurance:
Types of Texas Business Insurance Offered
Texas Business Owner’s Policy
ABusiness Owner's Policyis a mixture of of general liability insurance and business property insurance, in one particular policy. Businesses in Texas can tailor a BOP to help meet their demands by adding optional coverages including data breach coverage and more. A Business Owner's Policy should be treated if:
- Your business has a physical location in Texas, whether this location is an office, a storefront or in your home.
- Your business can be sued – for example, by a customer who falls on spilled goods inside your store.
- You have business assets that can be damaged or taken – this includes inventory, furniture and digital assets.
Business Income Insurance
Business Income insurance helps Texas businesses replace income lost once they are unable to operate like an a covered property loss such as damage from theft, a fire, or lightning. Business Income Insurance plan is designed that will help protect little income caused by a variety of risks. Some situations of Texas businesses which should consider business income insurance include:
- Retail operations that require online or brick-and-mortar locations to display products for purchase.
- Businesses that depend on cloud storage companies to store their digital information.
- Service-based businesses that rely on a physical location, such as a hair salon, to provide services.
Business Income Insurance is included in a BOP from The Hartford. In addition, The Hartford offers a broad range of coverage options that can be added to an existing Business Owner’s Policy.
Texas Professional Liability Insurance
Professional liability insurance helps cover you and your Texas business if you are found negligent in the services that you provide. Many types of businesses need professional liability insurance, which is also known as errors & omissions, or E&O insurance. If you work directly with customers by providing services, consider getting professional liability coverage. Here are some examples of businesses that may benefit from professional liability insurance:
- Technology Professionals
- Travel Agent
- Interior Decorator
- Consultants
- Accountants
Texas Risk Engineering Insurance
The Hartford's risk engineering team provides loss control services designed to help larger Texas businesses create the safest work environment possible. As part of our comprehensive loss control offering in Texas, our Risk Management team provides larger businesses with access to an array of safety and risk management services including:
- Machine safeguarding
- Ergonomic tips
- Business continuity planning advice
- Workplace safety evaluations
- Training to prepare for investigations
- Safety leadership advice
- Safety programs
Texas Workers’ Compensation Insurance
Workers' compensation in the United States is regulated by individual states and territories. Workers' compensation insurance in Texas is not required by the state government for most private employers but can benefit employees with work-related injuries or illnesses. These benefits include medical care, wages from lost work time, and more. Workers’ compensation insurance also covers a deceased worker's family with a financial benefit. Workers’ compensation can benefit your Texas business for incidents including:
- A cook burns herself with hot grease in the restaurant kitchen and must go to the emergency room, followed by weeks of recovery.
- A client slips and falls on ice walking into the office for a meeting and requires physical therapy following an emergency room visit.
- An employee is driving back to work after a lunch meeting and is in a car accident requiring hospitalization.
Texas Minimum Business Insurance Requirements
Texas does not require an employer to carry workers' compensation insurance although it is recommended to help protect your business and employees. Commercial General Liability insurance is not mandatory in Texas, but it protects business owners against claims of liability for bodily injury, property damage, and personal and advertising injury (slander and false advertising). Learn more about Texas Business Insurance requirements from the Texas Department of Insurance.
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