Texas business owners should evaluate various types of commercial insurance to safeguard them against different risks common in the business environment. Why? The financial health of your business could be thrown into ruins by risks like theft, vandalism, fire, liabilities, and employee injuries. If you are a business owner in the Pearland, TX area, consider Barry Insurance Group for all your business insurance solutions.
Is commercial insurance mandatory in Texas?
Commercial auto insurance is required in Texas, but unlike many states, Texas doesn’t require private employers to carry worker’s compensation insurance. However, it’s advisable to carry workers’ comp insurance, whether mandatory or not, to protect your employees.
Is commercial insurance worth it?
Running any form of business comes with inherent risks ranging from natural calamities, employee injuries to lawsuits. Ensuring your business is adequately covered provides the following benefits:
- Liability protection: If a business venture or its operations propagates any form of injury to any other individual, liability insurance pays for the rising medical costs.
- Assets protection: Commercial property coverage pays for damages or losses to your business building and other business assets like inventory and computer when a covered peril strikes.
- Covers advertising liability: When your business violates the copyright rule of another party, it may culminate into a copyright infringement issue. Liability coverage comes to the rescue as it cushions your business against arising legal liability claims.
- Protection of workers: Although Texas does not require workers’ compensation, it’s essential coverage to consider. This coverage pays for medical expenses and partially missed income arising from illnesses and injuries for your employees.
- Protection from cyber-crimes: Cyber liability insurance offers protection for certain losses caused by data breaches. It will assist a business in settling some costs culminating from a data breach, like customer notification and legal fees.
Buying commercial insurance in Pearland, TX is a prudent move to safeguard your business and employees. If you are searching for a proper commercial insurance policy, don’t look beyond Barry Insurance Group. Contact or visit us today and initiate your insurance journey with us.