Business & Commercial Insurance

There are several types of insurance (please remember, these coverage apply only for Texas).

• General Liability Insurance – Covers any liability arising from your business operation excluding professional liability, employer’s liability, or auto liabilities. Example: you trip and fall at your doctors office because the floor was wet.
• Workers Compensation Insurance –  This covers any liability arising from an employees injury while at work.  Workers Compensation Insurance is not to be confused with Non-Subscription to Workers Compensation Insurance. Example: you work for a doctor and you hurt your back carrying a heavy box.
• Commercial Auto / Business Auto – Covers any driving exposures to your business and or any vehicles owned by your business. Example: Doctor was driving to a patients home visits and he crashed into you.
• Professional Liability – Could be knows as Errors and Omissions Insurance (E&O), Mal Practice Insurance.  This covers the specialized side of your operation. Example: Doctor performs the wrong surgery on you.
• Excess Umbrella – Also known as Umbrella. This policy goes into effect if the underlying policies (the ones listed above) limit in liability is exhausted.
• Business Owner Policy – A business owner policy may be composed of several of the products mentioned above.  It is bundled and sold as a package and has specialized coverage particular to your type of business.  Usually a business owner policy is composed of property, liability, and a list of other coverage needed in your industry.

• Landlord:  Land lords can ask you have general liability and business personal property insurance.  As owners of the building, land lords can be sued for any accidents that occur at the location, therefore, land lords protect themselves by making their tenants carry general liability insurance.  Land lords are interested in you having business personal property because they don’t want to be hold liable if you have a loss due to land lord negligence.

    Land lords can ask you have general liability and business personal property insurance.  As owners of the building, land lords can be sued for any accidents that occur at the location, therefore, land lords protect themselves by making their tenants carry general liability insurance.  Land lords are interested in you having business personal property because they don’t want to be hold liable if you have a loss due to land lord negligence.

• Contractor:  The original contractor or general contractor is ultimately liable if his sub contractors cause a loss.  Making his subcontractors carry insurance reduces that exposure therefore reduces their insurance cost.

• The State:  It a requirement to have general liability and workers compensation if you are directly or indirectly dealing with the State of Texas.

• Bank / Lien holder:  The bank financing any kind of property may ask you insure that property.  Whether it be a vehicle, equipment, or business personal property.  If a bank is financing a project (such as construction) they may require you have also have general liability, workers compensation, and an umbrella.

Additional Insured and Waivers of Subrogation

• Additional Insured: The entity requiring you to have insurance may request you add them as an additional insured in your policy.  This is standard for most contractors and businesses who rent space. By adding somebody as an additional insured, you are extending coverage to that other entity in case you are liable.

• Waiver of Subrogation: If there is a loss where you are found liable, the insurance company will pay.  After paying, the insurance company may find there was another party who was at fault (like a general contractor) and subrogate to get their moneys back.  A waiver of subrogation in favor of a particular entity will prevent your insurance company from using subrogation against whoever the waiver was in favor