Minimum Business Insurance Requirements in Texas Commercial general liability insurance is not mandatory in Texas, but it protects business owners against liability claims for bodily injury, property damage, and personal and advertising injuries (slander). Commercial liability insurance is not required for companies operating in Texas. It is a business-friendly state and has been at the forefront of reforming lawsuits to discourage frivolous lawsuits. However, accidents and lawsuits continue to occur in Texas.
If you own valuable property or other assets, it would be wise to invest in sufficient commercial general liability coverage for your business to limit your exposure to risk. Starting in 1987 with a small office in Bryan, Service Insurance Group has since grown into one of the largest locally owned independent agencies in the Brazos Valley and Central Texas. The policy also covers things like damaged or stolen supplies and inventory, business interruption costs, fire damage, employee theft, rental vehicle insurance, and more. Whether you live in Dallas, Austin, Houston, San Antonio, El Paso, or Lubbock, having sufficient general liability insurance is an important part of any small business plan.
Texas commercial liability insurance premiums are based on several factors, including the types of services or products you provide, the number of people you employ, the time you've been in business, and your claim history. Protect your business and yourself by taking out small business insurance from a qualified insurance agent. Although not required, personal vehicles driven for work purposes must be covered by rental and non-owned car insurance (HNOA), since personal auto policies generally exclude commercial use. The above policies are the basic types of business insurance that every Texas small business owner should buy to protect their business, assets and livelihoods.
Commercial liability insurance (also called commercial liability insurance and commercial general liability insurance) protects your company in Texas from financial losses that result from claims for injuries or damages caused to others by you or your employees. If you're a small business owner in the Lone Star State, this information will help you understand Texas commercial liability insurance and protect your business and personal assets from lawsuits and legal settlements that could spell financial ruin. While commercial insurance coverage from CGL solves any liability issues that may arise, it is also advisable to purchase business property protection. Keep in mind that if you operate from home, homeowners or renters insurance has limited liability and business loss coverage.
The first and most important type of small business insurance needed to open your company's doors to the public is liability coverage, also called commercial liability insurance or CGL.