Commercial Insurance in Texas and California

Your business needs commercial insurance no matter how large or small. Sometimes referred to as business insurance, these insurance policies protect your business, as well as the time, effort, and money you’ve invested in creating a successful company. These commercial insurance Texas and California policies are specifically beneficial against losses as a result of property damage, employee injuries, natural and financial disasters, and employer liabilities.

Types of Coverage Through Commercial or Business Insurance

There are several options and types of commercial insurance. The best way to determine the most appropriate coverage for your business is to work directly with an advisor who understands the ins and outs of your industry and the risks and threats most common to businesses in your area.

General Liability

This comprehensive form of insurance is often the first line of coverage for businesses:

  • Used in case of damage or injury originating on business property and caused by business operations
  • Could be upgraded to claims that occur off the property
  • Other companies and individuals may be covered as “additional insured”

Property Insurance

This broad type of insurance protects physical assets from a wide variety of risks:

  • Fire and explosions
  • Vandalism and theft
  • Burst pipes
  • Storms

Earthquakes and floods aren’t usually included in these policies, but you can add them.

Business Interruption Insurance

It is impossible to plan for every eventuality, and some business owners have struggled to keep their doors open when natural disasters, supplier failures, machinery malfunctions, and other causes of interruption have occurred. This type of insurance covers basic operating costs during the restoration period:

  • Lost revenue
  • Lease, mortgage, and rent payments
  • Bills and loan payments
  • Payroll
  • Taxes
  • Temporary relocation costs

Workers’ Compensation Insurance

As a business owner, you are required by law to ensure that your workplace is safe. When accidents and injuries do happen, workers’ compensation insurance provides medical care and compensation for lost work for your employees. It also protects you, the employer, from lawsuits arising because of injuries.

Commercial Auto Insurance

Whether your business vehicles are large semis or errand cars, a commercial auto insurance policy is necessary and provides protection in many situations:

  • Physical damage to vehicles
  • Medical payments
  • Uninsured and underinsured drivers
  • Non-owned coverage
  • Hired automobiles

Cyber Liability Insurance

If your business is affected by a data breach, malware, or another form of cyberattack, you could also face lawsuits that result from the breach of information. Businesses of all sizes and shapes need a way to respond to cyberattacks and resulting costs.

Management Liability Insurance (D&O)

Management liability insurance is available in different types of coverage:

  • Directors and Officers Insurance, or D&O, provides protection for the directors and officers of the company in cases of wrongful termination, deceptive business practices, and breaches of fiduciary duties.
  • Fiduciary Liability Insurance provides protection for employers and employees when claims are made against the company and also offers coverage for the fiduciary relationship between clients and attorneys.

Employment Practices Liability Insurance (EPLI)

This type of coverage protects employers from claims made by employees:

  • Discrimination (age, disability, race, sex, for example)
  • Failure to promote
  • Harassment
  • Wrongful termination

EPLI is vital for any size company and for small businesses in particular. This is because new and small businesses often don’t have policies and procedures outlined for hiring, firing, and disciplining employees.

The specific details of commercial insurance California and Texas policies may vary, so reach out to a Cerus Insurance representative online or by phone at 512-584-8081.

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Cerus Insurance Services is here to help you with your insurance needs in Texas and California