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How To Select The Right Business Insurance in Texas

Choose the right business insurance in Texas to mitigate your business risks today


Being a small business owner in Texas is exhilarating and startling. A small business owner in Texas will have the potential to create and capture significant value by catering to the right market. These leaders and pillars of the community can make a world of difference if they understand their edge and how to bring better solutions to the existing market.

Yet creating a sustainable business requires adherence to business foundations. Risk mitigation through insurance is one of these critical pillars that small businesses across Texas must account for in their daily lives. Business insurance helps to ensure continuity and continued success.

Do you understand all the nuances of business insurance in Texas? This comprehensive guide will help you comprehend the various types of business insurance in Texas and how they can help you to mitigate and transfer risk.

Let’s find out more about insurance for business in Texas today.

Different Types of Insurance For Business in Texas

There are a variety of insurance options that you can turn to help to increase the stability of your business. Here are the main categories of business protection that you can avail from a business insurance agency today.

  • Commercial General Business Liability Insurance

  • Professional Liability Insurance

  • Business Owners Insurance

  • Workers Compensation Insurance

  • Miscellaneous insurance

Let’s understand what these different types are all about and how they may matter to your business.

Commercial General Business Liability Insurance

Commercial entities use this business to cover a broad range of potential third-party risks. General business liability insurance will help your operating entity to minimize risks resulting from claims related to factors such as bodily harm, injury to the person, ruin of property, and even more modern damage such as havoc related to sensitive business data.

Be aware that coverage for this policy generally includes:

  • Medical treatments for the claimant

  • Harm to property

  • Costs related to attorney engagements

  • Losses related to aspects such as pain and suffering

  • Miscellaneous components of a claim that is filed against a company

Remember that commercial general business liability insurance may also protect from claims that are concerning misguided advertising, copyright infringement, defamation, and issues along these lines.

Commercial general business liability insurance helps to provide broad coverage for a wide range of potential claims. 

Comprehensive coverage will vary between each business insurance provider. 

But what about the costs of this protection plan?

Well, the costs will depend on specific factors such as your risk exposure, where you conduct business and the size of your organization. Costs to protect your business may vary from $19 a month to $80 a month or more.

Remember to understand what your specific provider offers so that you are not caught off guard in the event of a claim.

Professional Liability Insurance

You may know a lot about what you do for your clients or end consumers, but you may not know everything. That is perfectly fine, but business owners like yourself may make mistakes from time to time that can have an adverse material impact on your client and their business. In such instances, clients may resort to suing you.

It is in such a case where you would want to ensure that you have proper professional liability insurance coverage in place. Errors and omissions insurance (E&O), or professional liability insurance can help you protect your assets in cases of professional negligence.

Professionals aim to have this insurance in place in instances where they may be found negligent or fail to deliver services, as stated in an agreement.

Protect yourself from professional liability and the legal fees associated with these third party claims by using this insurance option.

Do You Need Professional Liability Insurance?

A variety of businesses will make sure to have liability insurance in place to work with more clients or to be in compliance with their local laws. These businesses or professionals may range from lawyers to consultants, accountants, tax professionals, and even IT firms as well.

Do you find yourself interacting directly with your customers? Do you directly deliver work that may have severe repercussions for your clients? Do you intend to advise and provide high-value services that can cause material growth when done right or potential harm if mistakes were made?

If so, then you may consider opting for this specific policy offering.

Remember that clients may even move forward with legal proceedings if they perceive some sort of business activity degradation.

Professionals aim to use this coverage to stay safe at all times.

What Does Professional Liability Insurance Cover?

Professional liability insurance will typically provide coverage for claims related to negligence, unsound counsel, and even misstatements, or similar items. Different policy providers may offer additional coverage, but it will be necessary to check the terms of your specific coverage.

What is the Cost of Professional Liability Insurance?

Professional liability insurance costs will also differ based on a wide variety of factors. These factors may include:

  • The type of organization

  • Region

  • Time in business

  • Past claims

  • Deductible selection


Other components may affect your policy costs but these are a few of the main determining factors.

Business Owners Insurance

Business owners insurance or a business owners policy (BOP) includes property as well as liability insurance. Business leaders may opt for this policy to make sure they are protected regarding issues such as bodily and property harm, legal costs in cases of defamation, and other segments. 

You can find this coverage with large insurance providers and smaller ones as well.

Workers Compensation Insurance

Workers compensation is one insurance for business managers in Texas that you would want to look into if you have employees. This insurance serves two parties, employees and the business in the event of a worker injury.

What Does Workers Compensation Offer?

Workers compensation is relevant because it can offset costs related to medical, lost income and other aspects that are associated with injuries within the workplace. 

Remember that this policy will cover accidents as well as illnesses related to the work environment.

Workers compensation is critical for businesses that have employees and can help to reduce financial burdens related to injuries in the workplace substantially.

There’s one more insurance segment that you should know about in your insurance journey.

Miscellaneous Insurance

Remember that you will also have specialized insurance aspects that align with your line of business. You may want to opt for cybersecurity insurance or other forms of critical insurance that will protect your business in the event of harm.

Further, you may need to opt for commercial automotive insurance, or other types of insurance related to your specific segment of the industry. Does this seem like a lot of information?

Don’t worry, you can always talk to one of our many business insurance professionals who can guide you through the process. They can work with you to collate information about your business and understand your overall business needs. 

We at the Thumann Agency know that insurance for business entities in Texas don’t have to be a complicated process with the right help.

Do what’s right for your company and talk to a proficient business insurance professional at Thumann Agency to protect your hard-earned assets.

Request a business insurance quote from us at Thumann Agency today!