In an annual statistical report, the Texas Judicial Branch closed nearly 7 million filing cases in 2021. The Texas Department of Health and Human Services found that in between 2018-2020, 48 Texans died from personal injuries daily.
Businesses feel the costs of these personal injury claims and property damage every day as well. One tool in their toolbelt to protect their business interests is general liability insurance, which has the potential to save them thousands of dollars.
Don’t operate a restaurant, consulting office, or any other business in Texas without purchasing general liability insurance first. This article will look at some of the crucial things you need to know about Texas general liability insurance, including:
What is general liability insurance
Which businesses in Texas need general liability insurance
Texas contractor general liability insurance requirements
The cost of premiums
The best companies
General liability business insurance Texas covers liability costs incurred that a business’s operations and products cause to customers. This insurance generally covers things like third-party injury and third-party property damage.
Texas business liability insurance can also cover things like slander, libel, and advertising injury from your normal business operations. Generally, causes that stem from any malicious intent by the business owner are not covered.
No, commercial general liability insurance Texas is not required by the state law in most cases. However, some cities may have local requirements for some types of businesses.
State Texas law does set requirements for other types of insurance for all businesses. Auto insurance is generally required for business vehicles, and worker’s compensation is also required for any business that has a contract with a government entity and has employees.
Despite not generally being required, small business liability insurance Texas is an excellent idea to pick up because of how much money it can save you on legal costs and liability fees. A general liability policy is often required by clients in contracts to ensure costs will be covered.
Texas general liability insurance coverage is needed by many classes of businesses in Texas. Some popular venues that would greatly benefit from general liability insurance are listed below.
|Contractors||Some clients will often demand that a general liability insurance Texas contractor policy be in effect for contractors who conduct businesses. If you have a Texas contractor license, sometimes you will be required to have a current general liability policy|
|Restaurants||Restaurants often need general liability insurance for small business in Texas to deal with customer sickness claims, slips and falls, and damage to customer property|
|Retail Stores||Retail stores need general liability insurance to protect against customer lawsuits and other financial liabilities that stem from customer injuries|
|Therapists||Therapists will need general liability insurance to protect them against any liability claims brought by their patients during the course of business|
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No, LLCs are not usually required to get general liability insurance under state Texas law. There are some types of insurance that may be required, for example, worker’s compensation insurance under a government contract. Commercial auto insurance is also required for any vehicles on the road as well.
Even though LLCs are limited liability companies, that does not entirely protect them from things like lawsuits and injury claims. General liability insurance Texas for LLC supplements protections from legal expenses.