Business & Commercial Insurance
Business & Commercial Insurance Information
Serving Texas Businesses Since 1999
Texas offers a booming ecosystem to potential businesses. There are approximately 1,787,607 small business in Texas, a number that is on the rise. If you're looking for the perfect place for your business, Texas is it.
Each state comes with its own dangers, however, and Texas is no exception. Accidents, natural disasters and lawsuits lie around every corner, no matter what industry a business is in. If you're starting a business, it's imperative that you carry business insurance. At Consolidated Insurance Markets, we understand the dangers that Texas businesses face. That's why we are dedicated to helping businesses protect their assets so they can thrive and grow.
Business Insurance Frequently Asked Questions
The amount and type of insurance your small business needs depends on the industry. In general, small businesses should invest in:
- Workers Compensation Insurance: This coverage pays for medical bills and possible legal fees if an employee is injured at work. Texas doesn't require this type of insurance, but it's crucial to save on potentially costly lawsuits.
- General Liability Insurance: This coverage helps with lawsuits due to injury or damage a third party suffers as a result of normal business operations.
- Commercial Auto Insurance: If your business uses vehicles to conduct business, you need commercial auto insurance. Personal auto insurance won't cover you if an accident occurs while working, nor will it cover company cars. Keep in mind that commuting to and from work does not apply to commercial auto insurance.
LLCs are not technically required to carry business insurance, but it's highly recommended. Large lawsuits could completely wipe out your LLCs savings. LLCs should generally invest in general liability, workers compensation and commercial auto insurance.
This depends on the size and industry of your business. Larger businesses typically need higher limits on insurance since they face more risk of errors and accidents. Speak with an agent at Consolidated Insurance Markets to discuss your business' unique needs.
Business insurance premiums vary depending on several factors, including the business' size, industry, claims history, location and amount of coverage requested. General liability costs an average between $483 and $2,758 a year. Fill out an easy online quote form today to see how much it will cost to insure your business.
For certain coverages, you can choose to pay monthly or yearly.
Some industries require businesses to carry certain insurance coverages. For example, contractors may require subcontractors to carry liability insurance. Check with your industry about their regulations and requirements. Vehicles must be covered under liability auto insurance in Texas.
Starting a business is difficult and maintaining it can be even harder. One lawsuit or disaster without insurance could cost thousands or millions of dollars. If your company doesn't have a huge amount of financial cushion, one accident or mistake could ruin the business.