General Liability Business Insurance, Texas
Protect Your Small Business From Liability Claims
If you are a business owner in Texas, it is wise to invest in general liability business insurance to keep your company secure. You never know when the unexpected may occur, and general liability business insurance will help you rest assured knowing that your company is covered for a variety of different issues that may arise. At the Thumann Agency, our specialists will help you customize a plan that works for your business and your budget.
What You Need to Know About General Liability Business Insurance:
- What Is General Liability Business Insurance?
- Do I Need General Liability Insurance for My Business?
- What Does General Liability Insurance Cover?
- What Business Liability Insurance Doesn't Cover?
- How Much Is General Liability Insurance for Small Businesses?
- General Liability Insurance Cost
- Quoting for Other Business Insurance Policies
- How Do I Get General Liability Insurance For My Business?
What Is General Liability Business Insurance?
The first and most important question you may be asking is what exactly general liability business insurance is. It is coverage that protects you and your business from various claims, including bodily injury, property damage, and personal injury caused by your business. These types of claims can happen during your normal business operations, and without insurance, you would have to pay for damages out of your pocket.
Do I Need General Liability Insurance for My Business?
While it may not be a legal requirement for businesses to have general liability insurance, it would be unwise for companies to neglect this type of insurance coverage. Just as individuals choose to invest in auto, healthcare, and home insurance, businesses should also prepare for any unexpected circumstances if something happens in their lives.
An accident that takes place on your business’ property or an incident that occurs at your company may have serious adverse effects on your business's success if you do not have insurance to cover these occurrences.
What Does General Liability Insurance Cover?
You must understand what general liability business insurance covers to know what additional insurance coverages may need to be purchased. Certain circumstances are not covered under the general liability policy. Here are the situations where your general liability business insurance does provide ample coverage:
Property Damage or Bodily Injury
This covers claims that can arise from bodily injury or property damages resulting from accidents on your property or your products, your operations, or advertising for your business. If a customer slips and falls in your store or if a third party’s work accidentally causes property damage, your general liability insurance will protect your company.
It is important to note that this only applies to non-employee injuries.
Medical payment coverage can take care of minor injuries to non-employees that happen on your premises. Generally, it will pay for medical or funeral-related expenses that your business may be held responsible for. It would be best to remember that the insurance would only pay an amount based on your policy’s limits.
For example, if a customer is injured in your business and his medical expenses come to $10,000, your insurance policy will pay for these expenses to a particular limit. If your limit only covers $5,000, you will be responsible for the rest of the expenses.
Personal & Advertising Injury
With this, you are covered in the event your company’s marketing violates someone’s copyright or offends them, and they believe you now owe them for their damages you may or may not have caused. Written or verbal communications that can be considered libel, slander, malicious mischief, or copyright infringement, among others, may be covered through your general liability insurance.
To pay for the cost of a legal situation, this aspect of the general liability insurance covers you if damages are filed against you or sued. The insurance protects your business by providing for the insurance company’s investigation and attorney expenses, any judgment or settlement, medical expenses in case of injury, and bonds if they must be subsequently posted.
What Business Liability Insurance Doesn't Cover?
However, there are several categories that business liability insurance does not cover, including:
- Employee injury - your employees are not covered for any injury under your general liability insurance.
- Professional services - you are not covered for any professional services performed by you.
- Use of vehicles and boats - you are not covered for auto and boat accidents.
- Personally identifiable information - general liability insurance does not cover Cyber Liability or failure to protect any personally identifiable information that is in your care, custody, or control
- Your property - you are not covered for damage claims to a property you own or the property of others in your care, custody, or control.
How Much Is General Liability Insurance for Small Businesses?
As a small business, you know that many different business areas require time, money, and energy. Insurance will be a part of your company that should be given plenty of attention to ensure that you are fully covered, no matter what circumstances may arise.
The cost of general liability business insurance for any business - small or large - depends on various factors discussed with you when you invest in your insurance policy. Each company is unique and has particular needs for their insurance, so your small business's cost will depend on how your insurance will need to cover you.
General Liability Insurance Cost
Many factors influence the cost of general liability insurance. For example:
- Your type of business
- Your business location
- The amount of risk your company is exposed to
- The number of employees you have
Our insurance agents at the Thumann Agency will be happy to elaborate on these factors and help you find a general liability insurance policy for your business that fits your company’s needs and budget.
Quoting for Other Business Insurance Policies
Depending on your type of business you own, you may want to consider these policies:
- Business Owners Policy/BOP - Typically, BOPs consist of covering property, general liability, vehicles, business interruption, and other types of coverage common to most types of businesses. BOPs simplify the insurance buying process and can often save you money.
- Commercial Auto Insurance - Commercial vehicle insurance is needed to cover the cars, trucks, and vans used in your business.
- Professional Liability Insurance - Also called professional indemnity insurance, is a type of liability coverage designed to protect traditional professionals (e.g., accountants, attorneys) and quasi-professionals (e.g., real estate brokers, consultants).
Protect Your Small Business From Liability Claims
When shopping for General Liability Insurance in Texas, the Thumann Agency specialists are here to help you customize a plan that works for your business and your budget.
General liability is a coverage that protects you from a variety of claims, including bodily injury, property damage, and personal injury. All of these can arise from your business operations, so you must have insurance to protect you.
How Do I Get General Liability Insurance For My Business?
At the Thumann Agency, we have helped businesses find the right general liability business insurance policies to protect their interests for over 22 years. If you are a business (regardless of size) looking to invest in a general liability insurance policy, contact our Dallas, Texas, insurance specialists. We offer superior coverage at the most competitive prices, and we will ensure that you get the exact coverage you want and need for your business.
As an independent insurance broker, we work for you, not the insurance companies, which gives us the ability to offer you the best products to protect you and your business. Contact us to find out more about our Dallas insurance agency or request a free, no-obligation quote for your company’s general liability insurance needs. We look forward to helping your business continue to succeed.
Have Questions? Call (972) 991.9100