March 1, 2021

What is an excess and surplus lines carrier/policy? Do I need it?

Having insurance for your new or already existing business is extremely important. Moreover, every business must have insurance that protects the individual business, the employees, the customers, or all three—having excess insurance options ensure that you and your business are properly protected.

Most insurance companies rely on something called a “law of large numbers.” This allows them to predict potential losses to the business. As a result, businesses have to ensure that other businesses, including themselves, are protected from these potential losses.

You always need to protect yourself and your business. Additionally, you could end up having to spend tons of money on a possible lawsuit. Other legal ramifications can occur as well.

What is a surplus line policy?

Surplus lines insurance covers the risks mentioned above that typical insurance companies don’t tend to cover. Intrinsically, it acts as a safety valve for multiple businesses and homeowners. More than that, surplus lines insurance steps up to the plate to cover potential risks and legal disparities.

Surplus Lines Insurance

Contact Texas Insurance Agency!

Surplus lines insurance will cover things like theme parks, convention centers, vehicles, properties, business startups, flood insurance, hotels, cybersecurity, and technology. With the current market, the need for surplus lines insurance has increased ten-fold. Catastrophic or unusual events can always occur. This is why excess and surplus lines insurance is a great thing to have.

Work with an insurance agency you trust. They’ll be able to work out a quote with you that fits your current budget. Furthermore, this type of coverage is unique in that it will always adapt to changing market conditions.

If you’re worried about the type of business you operate, this is a great option. Theme parks are always a great example of companies who might need this type of insurance. Accidents can always be sure to occur here. You’ll want to make sure you’re protected.

Get in touch with us!

We understand that insurance policies can be confusing, so this is where we come in. Our representatives walk you through the surplus lines insurance policy so that you understand how the business is covered. Moreover, we’ll be able to work with you to find a price that meets your budget.

At Texas Insurance Agency, we have a wide variety of policies you can also choose from. Give us a call today at 281-398-1010 to schedule an appointment.

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We are pleased to partner with these companies to bring you the best coverage at the lowest rates available.