Commercial Liability Insurance
Protecting Businesses in Texas
General liability, also known as “commercial liability insurance” is a broad policy that covers a number of liability exposures of a business. While the state of Texas does not require general liability insurance for all businesses, it can be required for:
- Businesses licensed through TDLR, view list.
- Businesses licensed through the Texas Department of State Health Services
- Businesses working with state or government entities
- Businesses that are subcontractors for larger firms
- Businesses that seek loans and financing from lenders
Hettler Insurance Agency recommends all businesses have general liability coverage, even if not required. Business liability insurance is often the first line of defense against lawsuits from customers, allowing an owner to protect both personal and business assets.
Home Based Entrepreneurs & Startups
Whether you sell shoes online, run an internet startup or provide consulting from home, there are still many risks that require coverage. Even without an office or much in business assets, general liability covers lawsuits from a third party. Any business can qualify for general liability, there are no minimum revenue requirements.
Learn more about getting insurance as a startup/entrepreneur.
Professional Liability Insurance (Errors & Ommissions)
Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, consultants, architects, engineers and technology companies.
Professional Liability Insurance protects a business, when an error or omission the owner, employees or subcontractors made causes financial loss. For some professionals, these errors could have happened years earlier, common in construction.
HIA recommends that all professional and technology companies have E&O coverage. Even with proper training and hiring, mistakes are inevitable potentially leading to a lawsuit.
Employment Practices Liability Insurance (EPLI)
Employment Practices Liability Insurance covers employment-related liabilities. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, HIA recommends considering this type of coverage.
Directors and Officers Insurance (D&O)
D&O covers executives, board of directors and managers of a company for negligent acts or omissions. It is commonly purchased by public companies and private companies with a large leadership team. D&O is a specialized form of E&O insurance, and also covers misleading statements that could result in lawsuits against the company.
There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
To find out more about general liability or more specialized packages, call Hettler Insurance Agency at 806-798-7800 and we’ll help make sure you’re properly covered.