You have many reasons to be proud if you’re among the 2.6 million small business owners in Texas. Small business owners contribute to over 4.7 million employment opportunities and a strong gross domestic product. While industry regulations in the Lone Star State are fairly lax, the right insurance can help you advance and make the most of your venture. Here’s Benzinga’s list of good prospective carriers for general liability insurance in Texas.
Best General Liability Insurance Options in Texas
It only takes 1 incident to bring about a lawsuit that could cause huge damage to what’s taken you so long to build. It’s crucial for small business owners and contractors so you protect yourself and your business assets by obtaining the right coverage. Remember, getting multiple quotes is the best way to secure a good deal. Here are our top general liability carriers in Texas.
Best Overall for General Liability Insurance: The Hartford
- Best For:Comprehensive coverage/Business Owners' PolicyVIEW PROS & CONS:securely through The Hartford Business Insurance's website
The Hartford has been rated 4.8 out of 5 for its business claims service based on thousands of customer reviews. As a top multinational carrier backed by 200 years of experience, this carrier is a great option for businesses of all sizes.
You can combine your general liability policy with a business income policy and commercial property policy through its business owner’s policy (BOP). Its BOP policy provides insurance to help you if you’re sued for causing harm to others or damage to property. The cost of your defense is also covered.
You can easily obtain your quote online or reach out to one of its specialists for a policy tailored to your needs and budget. Its complex liability solutions also help protect businesses vulnerable to higher-hazard liabilities like manufacturers, importers, wholesalers and distributors.
The Ethisphere Institute has named The Hartford a highly ethical company 12 times.
Best for Tailored Coverage: Simply Business
Simply Business offers a comprehensive suite of business insurance that specializes in making it easy to insure your business.
Whether you’re looking for construction workers' insurance or insurance for your startup, Simply Business helps you find the right coverage at the right price.
Tell Simply Business a little bit about your business and you'll get almost-instantaneous affordable quotes from top insurance providers. You can look into workers’ comp insurance, business owner’s policies, liability for general and commercial purposes, commercial auto plans and much more that will cover everyone on your team, and you can get covered in accordance with Texas law without overspending.
Building your business is hard enough. Let Simply Business make it easier. Get a quote from Simply Business today.
Best for Small Businesses: Hiscox
- Best For:Small businesses with both part and full-time employeesVIEW PROS & CONS:securely through Hiscox's website
Hiscox offers custom coverage tailored toward the specific needs and risks seen in each of Texas’s most prominent professions, including accountants, photographers, personal trainers and therapists. It insures a staggering 300,000 small businesses and has over 100 years of experience.
Besides offering the ability to custom build your insurance plan, Hiscox is also a popular choice for its flexible payment options that help you manage your cash flow. When you report a covered claim, the carrier immediately assigns a dedicated claims representative to help you. Any Texas business insured through Hiscox is covered for all work done anywhere in the world — just file a claim in the U.S., a U.S. territory or Canada.
Get a fast, free quote online or call a licensed agent at 866-283-7545. You’ll receive your policy immediately after payment, plus a money-back guarantee.
Best for Self-Employed Professionals: Suracy
Suracy understands that every business is unique. That’s why the company provides tailored coverage solutions to support your business. It partners with carriers experienced in your industry which can provide coverage that reflects your business’ vision, budget and exposures.
The insurer provides coverage across a broad selection of professional specialties, including healthcare, beauty, restaurants, automotive and more. To prepare your general liability insurance quote, Suracy needs your basic organization information, including your business name, description of operations, revenue and more.
To serve you with the best coverage, Suracy uses a 5-step process:
- Business exploration to learn more about your business and industry
- Coverage assessment to review your current policy, determine the right policy and make recommendations
- Analyzing top-tier carriers to show your options for policy placement
- Quote presentation
- Dedicated support and robust solutions
Get in touch with Suracy via email info@suracy.com or call 855-809-1521 to obtain a quote.
Best for Contractors: Progressive
Progressive offers affordable general liability coverage to contractors through its Progressive Advantage® Business Program. It also offers a Blanket Additional Insured Coverage to qualifying contractors, which extends your existing liability insurance to other entities. You can easily obtain a quote online or through any local agent.
You can buy a standalone liability policy or bundle several products if you need additional coverage. You may also qualify for insurance discounts on car rentals, dental services and more. You can easily manage your account, access all policy information online as well as file and track your claims online.
Best for Umbrella Insurance: biBERK
- Best For:Staying compliant with state and federal regulationsVIEW PROS & CONS:securely through biBERK's website
biBERK offers commercial umbrella insurance to protect your business from the expensive claims that fall outside the coverage limits of your general liability policy. Besides, adding this coverage may cost less than increasing the limits of your policy. You can submit your claim entirely online with no waiting days.
The carrier insures your small business directly, passing on savings of up to 20% less than other carriers. For any kind of assistance biBERK’s licensed experts are an email, phone call or chat away. Small business insurance customers can access low down payments as well hands-on insurance management and top-of-the-line customer service to your employees.
biBERK is part of Warren Buffett’s Berkshire Hathaway insurance group with over 4 decades of insurance experience and more than 100,000 satisfied customers. You can get your quote entirely online today.
Cost of General Liability Insurance in Texas
The industry and location of your small business play a factor in the cost of your general liability policy. Your policy will cost more if you operate in a higher-risk area. For instance, a construction company will pay higher than a consulting company. Other factors that may impact the cost of your general liability policy include:
- Cost of payroll
- Annual revenue
- Years of experience
- Insurance claims history
- Size
Some policy-specific details like the coverage limit may also affect your rate. You also have options to manage your general liability insurance costs. These include:
- Choose the appropriate limits. A limit is the amount your insurer will pay for a single or all claims during your policy period. A higher limit translates to a more expensive general liability insurance policy. Your limit shouldn’t be overly costly and should reflect your actual business needs.
- Ensure you have the right coverage. Most carriers provide tailored policies that cover your business’ specific risks. You get everything you need and nothing you don’t.
- Bundle coverage. You can lower the overall cost of your general liability policy by combining multiple policies into 1.
- Implement safety standards. Prioritizing safety is an easy way to reduce your claims frequency, which affects your policy cost. You may also qualify for insurance discounts if you have clear safety protocols at your workplace. Document all safety procedures, provide employee safety education and review safety best practices with employees.
- Choose a higher deductible. A deductible is the amount you pay out of pocket before your coverage kicks in. A higher deductible means you cover a higher share of losses so you pay a lower premium.
According to Hiscox’s insurance calculator, a business consultant in Dallas with a $200,000 annual payroll, $1,000,000 per occurrence limit, $2,000,000 aggregate limit and $0 deductible will pay $29.17 per month and $350 annually.
According to Progressive, small business owners who purchased a new policy through its Progressive Advantage® Business Program paid an average of $53 per month for general liability insurance.
What Does General Liability Insurance Cover?
General liability insurance protects your business from financial losses. Policies typically cover:
- Bodily injury to 3rd parties or clients who are injured while in your business premises. Your policy helps pay for representation costs if someone files a lawsuit or your business is found liable for damages. This policy doesn’t cover your employees.
- Medical expenses can soar to thousands of dollars even when injuries seem minor. A general liability policy protects your business if you’re sued for the medical expenses that result from injuries. A Hiscox general liability insurance policy may provide up to $5,000 in coverage per person for associated medical expenses.
- Property damage caused by you or your employees can create a huge expense. Damages to another person’s or another business property are covered.
- Advertising injury covers your business if its marketing or advertising materials contravene a 3rd party’s trade slogan or copyright. You’re also protected against the unintentional use of a 3rd party’s idea, which was used as part of your advertising.
- Defense costs and legal fees can soar into several thousand dollars if you’re sued for a general liability claim. A general liability policy covers all defense costs without reducing your limit of liability.
A general liability insurance policy doesn’t cover your failure to protect personal identifiable information in your custody, damage to your property and employee injuries. Errors in your professional services are also not covered, so you’ll need professional liability insurance. Read your policy’s fine print to understand all the exclusions.
Consider General Liability Insurance Coverage Today
As a small business owner in Texas, you’re responsible for many people — you have employees to pay and customers to keep safe. You may be legally responsible if another person is injured or property is damaged while on your premises or because of your operations. Choose the right general liability insurance policy to ensure that your business is properly protected against risks.
Start with quotes from multiple insurance providers. Review the policy fine print and seek clarification along the way. Choose a business insurance Texas provider that understands your industry and offers policies tailored to your unique needs.