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Recommended insurance policies for small businesses in Texas
These insurance policies defend Texas small business owners against common lawsuits and other top risks.
General liability insurance
A general liability insurance policy covers common third-party risks for small businesses in Texas, including customer property damage and injuries. Commercial leases often require this coverage.
- Customer injuries at your company
- Damaged customer property
- Advertising injuries, such as slander
Errors and omissions insurance
This policy protects professionals against lawsuits over mistakes, missed deadlines, and oversights. It's sometimes called E&O or professional liability insurance coverage.
- Work errors and oversights
- Professional negligence lawsuits
- Late or incomplete work
Professional liability insurance
This type of coverage protects Texas businesses against legal fees related to the quality of their professional services or advice. It's sometimes referred to as E&O insurance.
- Mistakes and oversights
- Breach of contract
- Missed deadlines
Business owner’s policy
A BOP bundles commercial property insurance and general liability coverage at a discount. It's often the most cost-effective type of business insurance.
- Lawsuits from customer accidents
- Stolen or damaged business property
- Business interruption coverage
Workers’ comp insurance
Though it's not required, many employers in Texas choose to carry this coverage for the important protection it offers. It can cover medical costs for work injuries.
- Employee medical costs
- Disability benefits
- Lawsuits from employee injuries
Cyber insurance
This policy protects Texas small businesses against financial losses from data breaches and cyberattacks. It’s also called cyber liability insurance or cybersecurity insurance.
- Data breach investigations
- Client notification costs
- Fraud monitoring services
Commercial auto insurance
This policy is required for vehicles owned by Texas small businesses. It helps cover the cost of an accident involving your commercial vehicle, including lawsuits from other drivers.
- Accidents involving business-owned vehicles
- Theft of a business-owned vehicle
- Damage to a company vehicle
Fidelity bonds
A fidelity bond reimburses your clients in the event of employee theft. Your clients may ask you to secure a bond before they will work with your business.
- Embezzlement
- Forged signatures
- Theft of cash or property
Commercial umbrella insurance
An umbrella policy boosts the coverage of your general liability, commercial auto, and employer's liability insurance. It can help your small business comply with requests for higher liability limits.
- Personal injury lawsuits
- Auto accident lawsuits
- Workplace injury lawsuits
Looking for different coverage? Check out our other policies.
What are the insurance requirements for small businesses in Texas?
Workers' compensation insurance
Texas does not require businesses to carry workers’ compensation insurance, though it's required in almost every other state. Most employers still choose to carry this coverage to protect themselves and their employees.
Workers' comp covers medical bills for work-related injuries and illnesses. It also provides disability benefits while the employee is recovering and unable to work. Most policies include employer's liability insurance, which helps pay for legal defense costs from workplace injuries.
Commercial auto insurance
Vehicles owned by limited liability companies (LLCs), startups, and other businesses in Texas must be covered by commercial auto insurance.
Texas law requires auto liability coverage in the amount of:
- Bodily injury liability per person: $30,000
- Bodily injury liability per accident: $60,000
- Property damage liability per accident: $25,000
Personal, rented, and leased vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.
How much does small business insurance cost in Texas?
Commercial insurance can be affordable for small business owners with low risks. Based on policy data from TechInsurance customers in Texas, the average premiums are:
General liability: $43 per month
Workers' compensation: $34 per month
Professional liability / E&O: $91 per month
Factors that influence the cost of business insurance include:
- Type of business
- Business operations
- Number of employees
- Location, such as Houston or Austin
- Policy limits and other coverage options
- Claims history
Why Texas business owners choose TechInsurance
Gain financial protection
The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.
Find insurance policies for your small business in Texas
Whether you need coverage to sign a contract, rent an office, or get a license, TechInsurance can help you find the right business insurance policies. Our insurance agents are licensed in Texas and can help you find affordable policies from top-rated insurance companies.
Get started today by filling out our easy application. You can chat with an agent about your business insurance needs and get answers to any questions. When you're ready, pay for a policy online and get a certificate of insurance (COI) immediately to show clients that your business is protected.
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