Unlike most states that require small businesses to carry workers’ compensation insurance, Texas does not. However, just because it isn’t required does not mean that you shouldn’t carry any workers’ compensation coverage, as it helps pay for the medical bills, legal fees if sued, and other expenses associated with an employee being unable to work due to a workplace injury or illness. The only exception to the rule not requiring workers’ compensation insurance is if you contract with a government entity. Similar to other states, Texas does require commercial auto insurance for any business-owned vehicles with at least the below minimum coverages:
- $30,000 bodily injury liability per person
- $60,000 bodily injury liability per accident
- $25,000 property damage liability per accident
If you own a trucking company, you may be required to have additional insurance to comply with government and state regulations.
In addition to workers’ compensation and commercial auto insurance, businesses in Texas can also opt for additional coverages for better protection. As an example, cyber liability insurance should be purchased by any business at risk of a cyber attack because it stores protected information such as credit card numbers, social security numbers, or healthcare data that a threat actor could easily exploit.
With so many options for commercial insurance, it can be hard to know what policies your business needs. Luckily, the team at All-Tex Insurance in Granbury, TX is ready to assist. With years of experience in the insurance industry, we know the complexities better than most. We can customize a commercial insurance policy that best protects your business and you from liability.