Texas Liability Insurance

Written by Jessica Duquette
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Texas liability insurance is a necessary precaution for many residents. Whether you own a business, a piece of real estate or a simply a vehicle, you are exposed to legal liability. Investing in appropriate liability insurance could save you from an emotional and financial headache.

What Is Liability Insurance?

Liability insurance protects you from any unforeseen accidents and their legal ramifications. Suppose a customer hurts himself at your business place. He in turn files a lawsuit against you as the business owner. Without liability insurance you will likely be forced into a financial settlement.

If you had invested in Texas liability insurance, your policy would cover the cost of the lawsuit and the victim's medical bills. In addition to financial relief, your insurance company would provide you with legal representation should the case be tried in a court. Consider the financial burden of one insurance claim; the assistance of liability coverage will more than pay for itself.

What Does My Texas Liability Insurance Policy Cover?

There are varying types of liability insurance, each equally important depending on the policy holder's needs. General liability insurance covers any risks associated with owning or using business premises. In contrast, professional Texas liability insurance encompasses any professional with specialized education or skill set. As a credentialed professional you are legally bound to provide adequate products and services. Incorrect usage of services or neglecting to provide the appropriate service can end up in a professional liability lawsuit.

Other types of commercial Texas liability insurance may include employment practices liability. Corporate human resources departments manage such claims as wrongful termination of an employee, failure to promote, wrongful demotion, and negligent evaluations. These are all actions that can result in an expensive law suit. To avoid these situations, be sure your organization is armed with the right liability insurance.

How are Policies Rated?

The amount you pay for your premium is likely based on the type of business you own. Your total payroll amount in conjunction with your industry will both play an integral part on your premium's price tag. Check to be sure all subcontractors have current and thorough liability insurance policies. This will lower your premium drastically.

Workers compensation is another important form of liability insurance. While this coverage is not required in the state of Texas, we strongly recommend you purchase this coverage. This type of insurance is used for wage replacement, medical benefits, and for rehabilitation of your injured employees. All employees eligible for workers compensation are injured at work or while performing work-related duties.

If you are simply looking for one-time liability coverage, the internet can be a great resource. Why would anyone need coverage for one day only? As an event producer you would need adequate coverage at the stadium to protect you from any injury-related claims. As leader of the PTA, you are responsible for providing Texas liability insurance for the moonwalker at this year's fun fair. Though your policy holder may be able to help you out with these one-time needs, it's always a good idea to price out multiple options.

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