As a responsible business owner in Texas, you need to know how important business liability insurance near me League City, TX is. It is difficult to protect your business from risks and problems you can’t predict. Business liability insurance near me is an important tool that protects your company from financial losses that could come from lawsuits, accidents, or damage.
When you work with an agency like Texas Insurance Agency, we can help you determine what type of business liability insurance you need and how much you may need to spend. We have expert agents on the line waiting for your call. Give us a call today at our Pearland location, or request service from us by filling out our online form. Texas Insurance Agency is here to help.
What Business Liability Insurance Near Me League City, TX for a Business Does and What it Covers
Business liability insurance near me League City, TX, which is also known as commercial general risk insurance (CGL), is meant to safeguard businesses financially if they are sued because their operations, goods, or services hurt someone or ruined their property. The insurance pays for the costs of defending yourself in court and any settlements or decisions that may come from cases. Here are some of the most important things that Business Liability policies cover.
Body Injury Coverage: This coverage protects your business from claims that your business’s operations, goods, or services hurt or injured a third party (like a customer, visitor, or vendor). If someone gets hurt on your business property or because of what you do for your business, this insurance can help pay for their medical bills, court fees, and possible settlements.
If a customer hurts themselves when they slip and fall in your store. If a customer sues your business for being careless, the right policy will pay for their medical bills and any possible court costs.
Property Damage Coverage: Property damage coverage pays for the cost of fixing or replacing third-party property that was damaged by your business’s operations, goods, or services. It can include damage to houses, cars, and other things that can be seen and touched.
While doing a job for a customer, one of your employees spills coffee on the customer’s laptop. The cost of fixing or replacing the broken laptop would be paid for by the business risk insurance.
Personal and Advertising Injury: This coverage protects your company from claims of non-physical injuries like libel, slander, false arrest, copyright infringement, or invasion of privacy that come from your business’s marketing or advertising.
Example: A rival says that your business is using its copyrighted material in its marketing materials. If you are sued for copying someone else’s work, your business risk insurance will pay for your lawyer fees.
What This Insurance Doesn’t Cover
Even though business risk insurance covers a lot, it doesn’t protect against all dangers. Some common exceptions are:
a. Professional Errors: If your business offers professional services like accounting, coaching, or medical services, you’ll need professional risk insurance (also called “errors and omissions insurance”) to protect yourself from claims that come from mistakes or carelessness in your professional work.
b. Injuries to Workers: You must have worker’s compensation insurance to cover any injuries or illnesses your workers get at work. Injury to a worker is not covered by a business’s risk insurance.
c. Intentional Acts: If your business does something to hurt or hurt someone else on purpose, your business risk insurance won’t cover the costs of that.
d. Property Loss: Commercial property insurance, not business risk insurance, usually covers loss to your business’s property.
Risks That May Not Get Coverage
Most of the time, you can’t get insurance for the following:
- Intentional Acts: Most insurance plans don’t cover damage or harm that was done on purpose.
- Fines and Penalties: Insurance does not cover fines or penalties given by regulatory bodies.
- Contractual Liabilities: Some contracts may have terms that say insurance won’t cover certain responsibilities that are taken on by signing the contract.
How to Figure Out How Much Business Insurance Your Company Needs
Choosing the right security for your business means taking into account several things:
- Type and size of business: Different industries and business sizes face different risks, so they need different amounts of coverage.
- Risk Exposure: Think about the risks that could affect how you run your business, where it’s located, and who your customers are.
- State rules: Some states may have specific insurance needs for businesses.
- Your financial situation: figure out how much you can pay for payments and deductibles.
Work closely with an experienced insurance agent like Texas Insurance Agency to find the best coverage for your business.
Common Questions You May Have
Is business insurance required in Texas?
A: General risk insurance is not required by law for businesses in Texas. However, many lease deals, client contracts, and licensing authorities may ask for proof of insurance.
Can I change my insurance coverage for business risks?
A: Yes, you can usually change your coverage to fit your business’s wants and risks.
If I run a business out of my home, do I need business risk insurance?
A: Yes, even home-based businesses can be sued, but you can protect yourself with business liability insurance.
Will product flaws be covered by my business’s liability insurance?
A: Yes, product insurance, which is usually included in liability coverage, guards against claims about faulty or broken products.
If I’ve had claims in the past, can I still get business liability insurance?
A: Yes, the number of claims you’ve made in the past may affect your premium, but a skilled insurance agent can help you find coverage options that work for your business.
Call Texas Insurance Agency Today
Business liability insurance is a basic safety measure that every business in Texas needs. It saves your business from the unexpected financial burden of legal claims; this keeps your business going and helps it grow. Get in touch with Texas Insurance Agency today to find the right insurance coverage for your business. We can offer you a free quote online!
Our team of experienced agents can help you find the best and most complete insurance options for your business, including general liability insurance, commercial auto insurance, and more. Secure the future of your business today!
Fun Facts for League City, TX
- When it comes to U.S. boating destinations, League City ranks third.
- It was also named one of the 10 most intelligent places to live in all of Texas.
- It shares a population range with 99 other American towns of between 50,000 and 99,000 people.