Texas General Liability Insurance (QUOTES, COST & COVERAGE)
Get Texas general liability insurance quotes, cost & coverage fast. Commercial general liability protects your TX business from another person’s or entity’s claims involving bodily injury or property damage.
Texas General Liability Insurance
It may be hard for you to imagine how your business could cause another person serious harm or even death. But if you are ever found liable for someone harm or injury, general liability insurance can provide financial protection.
A business that purchases commercial Texas general liability insurance, is covered for the cost of defending and settling real or fraudulent claims pertaining to bodily injury, that may be faced by a customer at the place of business or injuries sustained by employees at the client’s workplace; property damages; personal injury as a result of defamation; operations liability and advertising injury up to a maximum amount as stated in the contract.
Does My Business Need TX General Liability Insurance?
One of the most trying situations a business owner can face is liability claims for injury or damages to third party. Any business is exposed to bodily injury and property damage claims and the resulting litigation from the your business operations.
Legal fees and judgements can put small companies out of business. A Texas general liability insurance policy would provide defense costs for a covered claim and pay damages if the business is found legally liable.
What Does Texas General Liability Insurance Cover?
General liability is commercial coverage that is designed to provide financial protection for businesses from many types of risk exposures. A General liability insurance policy has 3 main parts of coverage; Bodily Injury and Property Damage Liability (Coverage A), Personal and Advertising Injury (Coverage B) and Medical Payments (Coverage C). Following are some of the most important coverages:
- The cost of medical care claimed by the injured party. For example, if a customer slips and falls on your premises and requires medical treatment, your policy would cover the costs.
- Restitution for death and loss of services.
- Compensation for physical damage to other people’s property and loss of use of the same. Even if you’re careful it’s still a possibility that something your business does, or doesn’t do, could cause damage another person’s or businesses property.
- Compensation to consumers for loss on account of using company manufactured products and retribution for loss due to services rendered by the company. So if something your business manufactures or a service your company provides causes an injury, your policy can pay for any resulting damages including legal expenses.
- Contractual liability coverage for any liability is assumed by entering into contracts like lease agreements for the building, elevator maintenance agreements or indemnity agreements.
- Coverage for hired and non-owned autos. Hired would be liability coverage for rented vehicles and non-owned is if employees use their personal auto on company business – like running to the bank or office store for supplies.
- Liquor liability if you do not sell, serve, furnish, manufacture or distribute, alcoholic beverages , your general liability insurance policy will cover you if are held liable for a liquor-related incident.
- The costs of legal defense. These costs commonly include compensatory damages, nonmonetary losses suffered by the injured party, and punitive damages.
- Coverage for advertising injuries as a result of publishing inaccurate information.
- Protection for violation of someone’s right to privacy and infringing on another company’s copyright, title or slogan.
What Texas General Liability Insurance Doesn’t Cover
General liability typically does not cover:
- Professional mistakes – Only professional liability insurance (E&O) can cover lawsuits due to negligence and professional mistakes.
- Damage to your property – General liability only covers third-party property damage. You need business property cover yours.
- Employee injuries – CGL only covers non-employee bodily injuries. You will need workers compensation to cover employee injuries
- Employment disputes – Employment Practices Liability Insurance (EPLI), not general liability, covers lawsuits if an employee sues over harassment, wrongful termination, discrimination, and similar issues.
- Damage to your vehicles – Commercial auto will cover damages to your vehicles.
Claims-Made vs Occurrence
When buying commercial general liability it’s important know the difference between a claims-made or occurrence policy:
Claims-Made – Provides coverage over a specific time period, and only covers claims that are made during that time period – even if the claim happened at a different time. So if you had a policy that cancelled on January 1, 2020 – then a claim was filed on February 1, 2020 for an injury that happened on December 1st 2019 – you WOULD NOT have coverage.
Occurrence – This policy is different because it covers claims that occurred during a specified time period, and will not cover claims that occurred before the policy was effective. So if you had a policy that cancelled on January 1, 2020 – then a claim was filed on February 1, 2020 for an injury that happened on December 1st 2019 – you WOULD have coverage (if it wasn’t exlcuded from the policy).
How Much Does Texas General Liability Insurance Cost?
How much does Texas general liability insurance cost? The premiums vary depending on the amount of risk exposure, and it depends on the endorsements and deductible selected. Following are some of the main factors that go into the price of a policy:
- Type of business (contracting, service, retail etc.)
- General liability classification code
- TX business location
- Years in business
- Business experience
- Annual payroll
- Annual revenue
- History of claims
Further Reading On Commercial General Liability Insurance
- Commercial General Liability Coverage Form
- General Liability Insurance
- CGL Exclusions Explained
- Contractors General Liability Insurance
- Difference Between General Liability And Auto Liability Insurance
- Does General Liability Insurance Cover Subcontractors?
- General Liability Insurance Claims-Made vs Occurrence
- Product Liability Insurance
- Product Liability Insurance vs General Liability
- What Damages Are Covered By A CGL Policy?
- What Does Commercial General Liability Insurance Cover?
- What Does Personal And Advertising Injury Mean?
- What Is A Premises And Operations Insurance Policy?
- What Is Damage To Premises Rented To You?
- What Is Products And Completed Operations Coverage?
- What Is The Difference Between Per Occurrence And Aggregate Liability Limits?
TX General Liability Insurance Quotes
Request a Texas General Liability Insurance quote in Abilene, Allen, Amarillo, Arlington, Austin, Baytown, Beaumont, Brownsville, Bryan, Carrollton, College Station, Corpus Christi, Dallas, Denton, Edinburg, El Paso, Flower Mound, Fort Worth, Frisco, Garland, Grand Prairie, Houston, Irving, Killeen, Laredo, League City, Lewisville, Longview, Lubbock, McAllen, McKinney, Mesquite, Midland, Mission, Missouri City, Odessa, Pasadena, Pearland, Pharr, Plano, Richardson, Round Rock, San Angelo, San Antonio, Sugar Land, Temple, The Woodlands, Texarkana, Tyler, Waco, Wichita Falls and all other cities in TX.
Texas Insurance Rules And Regulations
In Texas, there are certain regulations governing insurance that you should be aware of. We will be discussing some of the personal and business insurance types that are mandated by law, as well as insurance types that are not necessarily mandated by law but may be useful. For example, almost every business out there carries commercial liability insurance even though there is no law stipulating that general liability must be carried by a business in order to operate within the state. We'll be looking closely at the regulations and these types of insurance in TX.
Texas Business Insurance
When it comes to business insurance, there is one type of insurance that is most common above all others - general liability insurance. This is sometimes called commercial liability insurance, and it provides payments for those businesses that have legal trouble as the result of something happening on their premises. There are many different things that general liability covers, and since businesses do not have total control over what can happen on their property, most business carry it.
However, there are also certain types of business insurance that are required by law. However Texas is a lot less stringent when it comes to insurance than most of the states out there. In fact, the only type of insurance that you can apply to business that is regulated by law is the state-mandated insurance limits that are required for drivers. Most states require Workers Comp, and most of them also require commercial auto insurance for commercial vehicles. However, Texas does not have this requirement.
TX Personal Insurance
There are a couple of different types of insurance that will be discussing in this section. Many states require that commercial vehicles carry commercial auto insurance, but in Texas, it is simply required that all drivers carry 30 000 USD for bodily injury liability for a single person and 60 000 USD per accident as well as 25 000 USD for property damage. This is sufficient for both personal insurance and commercial insurance.
As for life insurance, they are regulated by certain state statutes in Texas and cover things like a 30 day grace period for payments and protection of death claim from bankruptcy. These are the only two types of life insurance regulations that are present within the state of Texas. Texas does not provide a free look mandate like many of the states out there.
Different States General Liability Insurance
If you are looking for state specific General Liability Insurance quotes, costs and information: