Commercial insurance is a necessity for business owners. While many states do not mandate it, most business owners opt for commercial insurance to ensure they are protected. It’s crucial to understand what’s covered and what’s not.
Understanding General Liability Insurance
Commercial insurance typically includes general liability insurance. Liability insurance comes into play if someone sues the business, such as if they get injured while shopping in your store. Most commercial insurance policies usually cover third-party claims involving personal injury or property damage. However, that’s typically all it covers.
Workman’s Compensation
Workman’s compensation involves an employee who was likely hurt or injured and cannot work. These claims involve workplace injuries, but are not covered by general liability insurance. Instead, business owners must purchase additional workman’s compensation insurance to ensure their employees are covered.
Additional Add-Ons
Business owners can purchase additional coverage, such as workman’s compensation, to protect their assets. Owners can also buy natural disaster coverage, including flood and hurricane coverage. Many clients purchase add-on coverage depending on their risks. Melvin Gessner Insurance Agency can help you determine what insurance your Willis, TX business needs.
Legal Requirements
Texas doesn’t require most businesses to have liability insurance, but many owners purchase it to protect themselves. Public employers are required to have workers’ compensation, but private employers are not.
Private employers who opt out of workman’s compensation coverage are called "non-subscribers." They are open to personal lawsuits from employees. Many must also submit workplace injury documentation to the Department of Insurance and Workers’ Compensation.
Agents at Melvin Gessner Insurance Agency can help you learn more about laws and regulations in Willis, TX. Our professional agents will assess your risk based on your location to ensure you have the necessary coverage.
