Texas contractor insurance can protect the buildings that you own, the business property you posses and the inventory against physical loss or destruction.
If you do not own your building, you will still need coverage for the contents of your business. In most policies, insurance for Texas business contents covers inventory, furniture, office equipment and other materials stored at your facility or off-premises. You may insure those materials for replacement cost or for actual cash value (ACV).
Offering Texas contractor, commercial property, and general liability insurance Houston TX
Replacement cost policies have larger premiums, however they can help your business recuperate from a loss quicker, since you can restore all of the lost or damaged property with brand new items. If you lease some of the gear at your business, the loan company may insist that you insure the property at replacement value.
Liability insurance is intended to cover the business against losses even if they are negligent or legally responsible for the damage, injury or loss to another's property, character, or health. As a rule, damages, legal fees and settlements are paid by the insuring company when a claim is filed on the business.
Bodily Injury - Liability protection may cover the involved person or firm for the cost of care, the loss of services and compensation for a fatality that results from an injury.
Property Damage - In the event your business causes damage to, or causes the loss of use of someone else's property, property damage coverage may pay for the value of the physical damage to the property; or the loss of use of that property.
Products and Completed Operations
A policy may provide protection for your companies finished products or services. If an injury takes place due to the use of your products or services offered, the policy would pay for the resulting damages and any legal costs up to the policy limits.
Liability Insurance
General Liability protection expands to any liability you may take on by entering into a variety of numerous types of contracts such as a building lease.
Liquor Liability
If you are not in the business of manufacturing, distributing, or serving alcoholic beverages, this policy may cover you when somebody claims you are legally responsible for a liquor-related accident.
Hired Auto and Non- Owned Auto
Hired Auto and Non-Owned Auto coverage if asked for is usually added as an endorsement on a policy. If there are no automobiles owned by the company this insurance will meet the contract conditions for Commercial Auto Insurance coverage.
Hired Auto coverage take the place of or expands the liability coverage
Liability coverage is obtainable by auto rental agencies, for example
Personal Injury
Non-Owned Auto coverage guards your company in the event that your company is sued as a result of an auto accident that you or one of your workers has in their own personal vehicle while on business hours.
Medical Payments
If somebody is injured by you or on your business grounds, the policy may pay for medical expenses and funeral costs incurred, up to policy limits, within 1 year of the incident . For example, if a customer stumbled and fell on your business premises and had to be hospitalized.
Nearly all Texas General Liability Insurance policies provide protection if you are accused of:
- Distributing incorrect information that slanders or libels a individual or organization;
- Distributing material that goes against a person's right of privacy;
- Wrongly arresting, restraining or imprisoning an individual;
- Maliciously prosecuting an individual;
- Evicting an individual without probable cause.
- Advertising Injury
In the course of advertising your companies own merchandise, products or services, this policy will provide important liability insurance coverage against advertising injuries resulting from:
- Publishing incorrect information that slanders or libels an individual or organization;
- Distributing material that goes against a person's right of privacy;
- Copying another companies advertising ideas or method of doing business;
- Infringing on some other companies copyright, name or slogan.
