Commercial Insurance in Texas
In a perfect world, Texas business owners would never have to worry about unforeseen events or anything going wrong. However, the reality is that we live in a world of uncertainty that is fraught with accidents, hazards, and unfortunate situations and circumstances that can and do happen frequently. Commercial liability insurance (also known as commercial general liability insurance and business liability insurance, protects your Texas business from financial losses that result from claims of damage or injury caused to others by you or your employees.
Why Do I Need General Commercial Liability Insurance?
There are a variety of unexpected events that can happen to threaten your business’ livelihood. For example, a customer may slip, fall, or get injured while on your premises, an employee may unintentionally damage a client’s property, or you may allegedly fail to satisfactorily perform a service. There are many risks that Texas businesses face on a daily basis. Because there are unlimited possibilities of liability, a commercial general liability insurance policy is something you truly cannot do without.
What Does Commercial Liability Insurance Cover?
Carrying appropriate commercial general liability coverage in Texas protects your business from the financial burdens that may result if you are sued for damage or injury that arise from your business operations or employee actions. These include:
Bodily Injury — This is physical damage caused to a person (excluding employees) at your place of business as well as injuries caused by you or your employees at a client’s work place or home.
Property Damage — Damage to someone else’s property caused by you or an employee.
Personal Injury — This covers and damage to a person’s reputation or rights, including libel, slander, copyright infringement, false arrest, wrongful eviction, invasion of property or similar acts.
Legal Defense and Judgments — Costs involved with defending yourself against real and frivolous suits and judgments up to your coverage limits.
Advertising Injury — Any loss caused by your advertising
How Much Commercial Liability Coverage Do I Need?
Texas commercial liability insurance premiums are calculated based on several factors such as the types of products or service you provide, how many people you employ, your length of time in business, and your claim history. For help determining the type of coverage and policy limits you need, call The Gray Group Insurance Brokerage today, or visit our office for your personal commercial general liability insurance policy quote.