Protecting your business from losses is one of the major responsibilities of a business owner. In addition to sound accounting practices, you need commercial insurance. The type of insurance that offers the most protection depends on the nature and size of your business. Large oil companies may need a completely different insurance package than small retail stores. These are the most common types of commercial insurance in Conroe TX.
Worker’s Compensation
This insurance protects your company against losses related to workplace illnesses and injuries. It covers the medical expenses and lost compensation for injured employees. Though the law does not require most employers in Texas to carry worker’s compensation insurance, employers who do have it are immune from lawsuits brought by employees who are injured at work.
Professional Liability
Also called errors and omissions or malpractice insurance, professional liability coverage protects your company against lawsuits arising from claims that you made a mistake that resulted in losses to your client. This insurance covers the cost of your defense, whether the mistake was your fault or not. Depending on your industry, there may be a professional liability policy that offers coverage specific to the kind of work you do.
General Liability
General liability coverage protects your business against financial losses resulting from accidents or injuries that happen on your premises or are caused by one of your employees. With a general liability policy, you’ll be covered against losses for slip-and-fall accidents, auto accidents caused by your employees while they are on work-related business and lawsuits related to copyright infringement. It can also provide coverage against employment practices lawsuits brought by past or current employees. This policy covers the cost of your defense if your company is sued. Some businesses also carry an umbrella policy that gives additional coverage for large judgments.
Whether your business is large or small, an agent from Metro Allied Insurance can help you get all the Commercial Insurance in Conroe TX that your company needs. Because your needs will likely change as your business grows, your agent can assist you with adjustments to your policies as the need arises.
