Texas Wholesaler Insurance

Written by Jessica Duquette
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Texas wholesaler insurance encompasses most major insurance products needed to operate a safe business. These can include: property, fleet, general liability and workers compensation insurance along with many others. Most insurance agents will work with wholesalers to determine the coverage required as well as what limits should be set.

Example of Texas Wholesaler Insurance

General liability protection may be the most important insurance a wholesaler can purchase because it covers any item not covered under another policy. Whether it is a libelous claim, product liability or fire insurance, general liability insurance will protect wholesalers from realizing major losses. Product recalls are often in the news and many people may wonder how a company can survive following the recall. The answer is that the company has some form of general liability insurance that allows the wholesaler to minimize losses and continue operating.

Another form of Texas wholesaler insurance is workers compensation, which most people are familiar with. This coverage provides for medical payments, different disability types or possible death benefits that are a result of employment. This mandatory insurance can be purchased alone or packaged with other types of insurance needed to protect a wholesaler. It is best to speak with an agent to find the appropriate insurance as coverage will include all statutory requirements as well as other permissible coverages.

Finding the Right Policy

Texas, like most other states, does require that wholesalers carry specific insurance coverages. While most of the requirements and limits are mandatory, there are several options available to the consumer. When looking for the best policy it is important to realize that the cheapest policy may not be the most cost-effective in the long run. For larger wholesalers, many levels of coverage may be required in order to better protect the business. Spending thousands of dollars a month may not seem like a lot should a major incident occur and a multi-million dollar lawsuit follow. Balancing coverage and cost is a difficult decision so we suggest that you read as much as possible and speak to qualified insurance agents before making a decision.

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