Texas (TX) Business Insurance (2024)

Choose The Hartford for All Your Texas Business Insurance Needs

As of 2015, 98.6% of businesses in Texas were small businesses. These small businesses accounted for over 4.4 million employees across the state. Firms with fewer than 100 employees comprise the largest share of small business employment.¹Texas’ gross domestic product was $1.59 trillion in 2015, meaning that if Texas were its own country, it would have the world’s 10th highest GDP.²The Hartford has been protecting customers for more than 200 years. It’s no wonder that more than 1 million small business owners trust The Hartford for their insurance needs. Learn more about Texas small business insurance, commercial property insuranceand Texas business insurance:

Types of Texas Business Insurance Offered

Texas Business Owner’s Policy

A Business Owner’s Policyis a combination of general liability insurance and business property insurance, in one simple policy. Businesses in Texas can tailor a BOP to help meet their needs by adding optional coverages including data breach coverage and more. A Business Owner’s Policy should be considered if:

• Your business has a physical location in Texas, whether this location is an office, a storefront or in your home.
• Your business can be sued – for example, by a customer who falls on spilled goods inside your store.
• You have business assets that can be damaged or taken – this includes inventory, furniture and digital assets.

Business Income Insurance

Business Income insurance helps Texas businesses replace income lost when they are unable to operate due to a covered property loss such as damage from theft, a fire, or lightning. Business Income Insurance is designed to help protect your business income from a variety of risks. Some examples of Texas businesses that should consider business income insurance include:

• Retail operations that require online or brick-and-mortar locations to display products for purchase.
• Businesses that depend on cloud storage companies to store their digital information.
• Service-based businesses that rely on a physical location, such as a hair salon, to provide services.

Business Income Insurance is included in a BOP from The Hartford. In addition, The Hartford offers a broad range of coverage options that can be added to an existing Business Owner’s Policy.

Texas Professional Liability Insurance

Professional liability insurancehelps cover you and your Texas business if you are found negligent in the services that you provide. Many types of businesses need professional liability insurance, which is also known as errors & omissions, or E&O insurance. If you work directly with customers by providing services, consider getting professional liability coverage. Here are some examples of businesses that may benefit from professional liability insurance:

• Technology Professionals
• Travel Agent
• Interior Decorator
• Consultants
• Accountants

Texas Risk Engineering Insurance

The Hartford's risk engineeringteam provides loss control services designed to help larger Texas businesses create the safest work environment possible.As part of our comprehensive loss control offering in Texas, our Risk Management team provides larger businesses with access to an array of safety and risk management services including:

• Machine safeguarding
• Ergonomic tips
• Business continuity planning advice
• Workplace safety evaluations
• Training to prepare for investigations
• Safety leadership advice
• Safety programs

Texas Workers’ Compensation Insurance

Workers' compensationin the United States is regulated by individual states and territories.Workers' compensation insurance in Texas is not required by the state government for most private employers³ but can benefit employees with work-related injuries or illnesses. These benefits include medical care, wages from lost work time, and more. Workers’ compensation insurance also covers a deceased worker's family with a financial benefit. Workers’ compensation can benefit your Texas business for incidents including:

• A cook burns herself with hot grease in the restaurant kitchen and must go to the emergency room, followed by weeks of recovery.
• A client slips and falls on ice walking into the office for a meeting and requires physical therapy following an emergency room visit.
• An employee is driving back to work after a lunch meeting and is in a car accident requiring hospitalization.

Texas Minimum Business Insurance Requirements

Texas does not require an employer to carry workers' compensation insurance⁴ although it is recommended to help protect your business and employees. Commercial General Liability insurance is not mandatory in Texas, but it protects business owners against claims of liability for bodily injury, property damage, and personal and advertising injury (slander). Learn more about Texas Business Insurance requirements from the Texas Department of Insurance.

Additional Texas Business Insurance Links

• Texas Commercial Auto Insurance
• Business Income Insurance
• Commercial Flood Insurance
• Commercial Property Insurance
• Commercial Umbrella Insurance
• Data Breach Insurance
• General Liability Insurance
• Surety Bonds
• Home-Based Business Insurance
• Employment Practices Liability

Get a quoteon Small Business Insurance for your business today.

¹ https://www.sba.gov/sites/default/files/advocacy/Texas.pdf

² http://www.businessinsider.com/incredible-facts-about-texas-2016-8/#if-texas-were-its-own-country-it-would-have-the-worlds-10th-highest-gdp-5