What Types of Business Insurance Are Required in Texas?

Understanding insurance requirements is an important part of running a business. J.R. Carnahan Insurance Agency can help you review your coverage needs and identify business insurance policies that align with your goals.

Mandatory Business Insurance in Texas

Here are some key coverage requirements and considerations to keep in mind:

Workers’ Compensation Insurance

Workers’ compensation requirements may differ by state. Private employers in Texas may not be required to carry this coverage, though opting out may come with conditions, including notifying employees and the state. Exceptions may apply for government contractors and public employers. Many businesses still choose this coverage to address workplace injuries and related claims.

Commercial Auto Insurance

Businesses that own or operate vehicles may be required to carry commercial auto insurance. Minimum liability limits for bodily injury and property damage can apply to any company vehicle used for business purposes, whether you have one car or a fleet.

Other Coverages to Consider

Some types of insurance may not be legally required but can be recommended or required by contracts, landlords, or clients. Consider these options:

• General liability insurance can cover claims of bodily injury, property damage and personal injury. Many landlords and clients may require this before doing business.
• Professional liability insurance may be a key consideration for businesses that provide professional services or advice.
• Property insurance can cover damage to business property from fire, theft or other risks.

How to Choose the Right Coverage for Your Business

The right coverage can depend on your industry, business size and operations. Reviewing your policies regularly may help you identify gaps and keep your coverage aligned with your current needs.

Our Team Can Help

J.R. Carnahan Insurance Agency can help you secure coverage that fits your industry, size and risk profile. Contact us today to request a free personalized quote.

 

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.