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We Wrote Too Much: Business Insurance

Our website team will frequently write too much content for the page to handle. Rather than making you scroll through walls of text you may not need, we've included it here. Any questions? Contact our Insurance team!

We Wrote Too Much: Business Insurance

Almost every business, no matter how big or small, needs some type of liability insurance. This insurance will protect the business if someone gets injured on the property or any legal issue is brought against the company. There are a few different types of liability insurance, and it is important to choose the right one for your business.

Business Insurance

Types of business insurance

There are many different types of business insurance, each of which can protect your business from different risks.

We tailor a business owner's policy unique to your company's needs. A business owner's policy (BOP) is a commercial insurance package that combines various coverages into one policy. This includes property, liability, and even product liability insurance. A BOP can save you money by bundling together these important coverages.

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Small Business Insurance

Small business insurance is designed to protect businesses with 100 employees or less. This type of insurance can cover a variety of risks, including property damage, liability, and even employee injury.

Commercial Business Insurance

Commercial business insurance protects larger businesses with more than 100 employees. This type of insurance can cover a variety of risks, including property damage, liability, and even employee injury.

General Liability Insurance

General liability insurance protects your business from a variety of risks, including property damage, personal injury, and even advertising injuries.

Professional Liability Insurance

Professional liability insurance, also known as errors and omissions insurance, protects businesses from claims of negligence or malpractice.

Casualty Insurance

Casualty insurance protects businesses from loss due to accidents, fires, theft, and other risks.

Business Insurance Products

  • Product liability insurance protects your business against claims of defective products or services.
  • Cyber liability insurance protects your business against loss or damage caused by cyber-attacks.
  • Umbrella insurance provides additional liability coverage above and beyond the limits of your other insurance policies.
  • Surety bonds are a type of financial guarantee that can protect your business from losses due to default on a contract.

Business Liability Insurance

Business liability insurance can help protect the company if any property is damaged or a legal issue is brought against the business. It can also help to cover any medical expenses that may be incurred due to the damage. There are a few different types of business liability coverage.

General Liability Insurance

Both general and business liability insurance are important for businesses to help protect them from any potential legal issues. Talking to an insurance agent to find the right type of coverage for your business is important.

Liability Coverage

No one knows when an unexpected event might occur, but with business liability insurance, you can be prepared. This type of insurance can help protect your business if a legal issue arises or someone is injured on your property. This insurance can provide peace of mind and help protect your business in the event of an unexpected occurrence.

Bodily Injury

Personal injury is a type of bodily injury that can occur when someone is injured due to the negligence of another person or company. This can include anything from an accident on the job to an injury resulting from a defective product.

Cyber Liability

As a business, you are at risk for cyber liability. Cyber liability refers to potential damages if your company is hacked. Hacking can include anything from stolen credit card information to releasing confidential information. If your company is hacked, you could be liable for the damages, and cyber liability insurance can protect you from the cost of those damages.

Business Event Insurance

When planning a business event, whether a small meeting or a large conference, it is important to ensure you have the proper insurance in place. Event insurance can provide coverage for cancellations, accidents, and property damage. Various policies are available, so it is important to research your options and find the right coverage for your needs. Event insurance can be seen as expensive, but it is a small price to protect your investment. When choosing an insurance provider, ask about their experience with business events. By planning and getting the right insurance, you can relax and enjoy your event, knowing you are covered.

Workers’ Compensation Overview

Workers’ Compensation Laws

Workers' compensation insurance is typically mandatory in most jurisdictions, meaning employers must provide employee coverage. However, there are some exceptions, including the state of Texas. Some states do not require workers' compensation insurance for certain types of employees, such as independent contractors. Additionally, some states allow self-insurance, allowing employers to provide their employees coverage.

Workers’ Compensation Insurance Cost

Workers’ compensation policy premiums can vary depending on the type of coverage, the size of the business, and the state in which the company is located. However, workers’ compensation premiums are typically less expensive than other insurance policies, such as property and casualty insurance. Employers' liability for workers' compensation coverage can also vary depending on the state. In some states, employers are automatically covered under workers' compensation insurance, while employers must elect to provide coverage in other states.

Workers’ Compensation Claims

Work-related injuries and illnesses can also result in death benefits claims. A death benefit is a payment made to the family of an employee who dies as a result of a work-related injury or illness. Workers' compensation insurance is typically mandatory in most jurisdictions, meaning employers must provide employee coverage. However, there are some exceptions. Learn more about TDECU Insurance Agency's Workers' Compensation insurance.

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