Big ideas. Small businesses. Serious protection.
Opening a coffee shop? Running a contracting business? Building something entirely your own? Here's your guide to business insurance in Texas, from protecting your property and employees to preparing for the unexpected.
Your business.
Your big idea.
Maybe you just opened your doors. Maybe you've been running the show for years. Either way, your business represents a lot of hard work, long days and big decisions.
Insurance can't prevent every unexpected problem, but the right coverage can help protect what you've built. Here's what Texas business owners should know.
First, what kind of protection do you need?
A restaurant, contractor, online retailer and consulting firm can face very different risks. Start by looking at your operations, property, employees and customers.
When accidents happen.
Can help with covered third-party bodily injury, property damage and certain advertising injury claims.
Protect your space and equipment.
Helps cover qualifying damage to buildings, inventory, equipment and other insured business property.
For the advice you give.
Also called errors and omissions insurance. Can help with covered claims involving professional mistakes or alleged negligence.
Business on the move.
Coverage for eligible vehicles used in your business, including applicable liability and physical damage.
Working from home?
Don't assume your homeowners or renters insurance fully covers business equipment, inventory or customer-related liability. Ask about a home-business endorsement or separate business policy.
Meet the BOP. The multitasker.
A business owners policy, commonly called a BOP, combines several types of protection into one package for eligible businesses.
Customer-related risks.
General liability protection for certain covered third-party claims.
Your business essentials.
Coverage for eligible buildings, inventory, furniture and equipment.
When business gets interrupted.
May help replace covered lost income following qualifying property damage that interrupts operations.
Make it yours.
Depending on the insurer, endorsements may add protection for specific business risks.
A BOP doesn't cover everything.
Workers' compensation, commercial auto, professional liability and flood coverage generally require separate policies or additional arrangements. Availability depends on your business and the insurer.
Let's talk Texas.
And the rules.
Not every Texas business is legally required to carry the same insurance. Your obligations can depend on your industry, contracts, employees and vehicles.
Workers' compensation
Most private employers in Texas are not required to carry workers' compensation. However, certain government contracts require it, and employers who opt out have specific reporting and notification obligations.
TEXAS WORKERS' COMPENSATION ↗Commercial auto
Vehicles used for business must meet applicable Texas financial responsibility requirements. Some commercial vehicles and operations have additional insurance requirements.
Contracts and leases
Your landlord, lender, client or licensing authority may require specific insurance policies, liability limits or certificates of insurance.
Industry-specific requirements
Contractors, transportation businesses and certain licensed professionals may face additional requirements. Confirm the rules that apply to your operations.
Choosing not to carry workers' comp?
Texas non-subscribers may face employee injury lawsuits and must meet applicable state notification and reporting requirements. Review these obligations carefully before deciding.
Big opportunities. Big weather.
Texas businesses can face hurricanes, flooding, hail, wildfires and severe storms. Your location, building and operations all matter when choosing coverage.
Protect your property.
Review wind and hail coverage, roof requirements and applicable deductibles.
Know your exposure.
Standard commercial property policies generally exclude flooding. Separate flood coverage may be available.
What if you can't open?
Business income coverage may help after qualifying insured property damage interrupts operations. Review waiting periods and exclusions.
Keep things moving.
Certain policies may cover qualifying additional expenses needed to continue operating after a covered loss.
A storm doesn't automatically trigger business income coverage.
Many policies require direct physical damage from a covered cause of loss. If flooding is excluded, related business interruption may also be excluded. Review your actual policy.
Protect more than the building.
Your employees, customer information and day-to-day operations are essential to your business. Consider the risks that aren't visible on a property inventory.
Workplace injuries.
Can provide qualifying medical and income benefits to employees injured or made ill by their work.
Digital protection.
May help with certain cyber incidents, data breaches, response costs and covered business interruption.
Workplace claims.
Employment practices liability insurance may cover certain claims involving wrongful termination, discrimination or harassment, subject to policy terms.
Additional liability limits.
Can provide additional protection above qualifying underlying liability policies, subject to exclusions and policy terms.
Small business. Still a cyber target.
Use multifactor authentication, maintain secure backups, train employees to recognize phishing and create a response plan before an incident.
Compare policies. Not just prices.
The cheapest premium isn't always the best fit for your business. Compare coverage details and understand what happens when you actually need to make a claim.
Explain your operations, revenue, payroll, property and any subcontractor or vehicle exposure.
Consider your contracts, business assets and potential liability exposures.
Pay attention to separate wind and hail deductibles, percentage deductibles and any waiting periods.
Flooding, professional errors, employee injuries and cyber incidents may require additional coverage.
New employees, additional locations, higher inventory or expanded services can change your coverage needs.
Need a certificate of insurance?
Clients and landlords often request proof of coverage. Ask your agent about certificates and whether a contract requires additional insured status or specific endorsements.
Oh yeah.
Insurance.
Your business isn't exactly like the one down the street. Your insurance shouldn't be chosen without considering what makes your operation different.
Just getting started?
Explore general liability, commercial property and BOP options based on your industry and business activities.
Growing your team?
Review workers' compensation, employment practices liability and any additional coverage your operations may require.
Expanding your business?
Additional locations, vehicles, equipment and services can create new insurance needs. Review your policies before making major changes.
Hey Charley is independent, so we can help you compare available commercial insurance options and explore coverage for your Texas business.
You build the business.
Let's talk protection.
Opening your doors? Hiring your first employee? Expanding across Texas? Let Charley take a look at your business insurance options.
LET CHARLEY TAKE A LOOK →