Business & Commercial Insurance
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Business & Commercial Insurance Information
Lone Star Business Insurance in Burleson, and Cleburne, TX
Insurance for Businesses Throughout Texas
If you are looking to start a business in Texas, you will need the right insurance to protect such a large investment. While there is much to earn by starting a business, there are also a lot of dangers your business could possibly face.
Lone Star Insurance works with business owners across Texas to find and provide excellent customer service and affordable business insurance policies. We will compare quotes between multiple top agencies to make sure you are getting the best deal for your business without having to sacrifice important coverages.
What Insurance Do I Need for a Small Business?
Business insurance requirements vary by state and may be different depending on the size and industry of your business. Be sure to check the requirements of your industry. Most businesses require a certain amount of general liability insurance and property insurance to protect against lawsuits and financial loss.
If your small business has employees, you may also need workers compensation insurance. Although workers compensation insurance isn’t legally required in Texas, it’s still a critical policy to protect employees and the business in case of employee injury.
Lone Star Insurance can help you determine what insurance you need for your business and how you can save money.
What is Covered by Business Insurance?
Common and important business insurance policies you may need include:
- General Liability: General liability insurance covers accidents of bodily injury, property damage and personal or advertising injury third parties may suffer. For example, if a customer falls and injures their ankle in your restaurant, this insurance can help compensate for the victim’s medical bills as well as legal costs your business may face regarding the incident.
- Professional Liability: Professional liability insurance provides compensation for claims against the business (or professionals who work for the business) regarding professional negligence that leads to a client losing money.
- Commercial Property: Commercial property insurance compensates the business for loss of or damage to its physical assets caused by fire, wind, hail, lightning, vandalism, theft and more.
- Commercial Auto: If your company owns or rents vehicles for work purposes, you will need commercial auto insurance. This insurance can include comprehensive coverage, collision coverage, liability, uninsured motorist and more.
- Umbrella Liability: An umbrella liability policy fills in the gaps left over by your business’ other liability policies. If your general liability policy reaches its limits for a single claim, however, umbrella liability insurance will step in to cover the remaining costs.
You may also save money by bundling many of these coverages into a business owners policy.
Insuring with Lone Star Insurance
Lone Star Insurance is dedicated to helping business owners protect their hard work and large investments with reliable and affordable business insurance. Protect your dream business today by calling us at (817) 426-2886 or fill out an online quote form to get started.
Frequently Asked Questions
Do I Really Need Business Insurance?
No matter the size or location of your business, you need some limit of business insurance. A single lawsuit can send a company out of business without the proper coverage.
What Does a Business Owners Policy Cover?
A business owners policy combines general liability insurance and commercial property insurance into one comprehensive policy for small businesses. You can often enhance this policy with additional coverage, as well, such as professional liability and umbrella liability. This is a good way for small businesses to save money on crucial insurance.
How Much Does a Business Owners Policy Cost?
On average, a small business may pay around $1,200 a year for a business owners policy. Keep in mind that this price may change depending on your location, size of the business, coverage limits, claims history, your insurer and more.
What Does Workers Compensation Insurance Cover?
Workers Compensation covers accidents involving an employee injury while on the job. For example, if an employee falls off a ladder in your warehouse and breaks their ankle, they could receive workers compensation. This insurance helps pay for the injured employee’s medical bills, emergency services if necessary, and wage replacement if the employee is unable to work. It also helps the business in case of employee lawsuits regarding workplace injuries.