The right insurance is essential for your business, and Texell Insurance has the policies you need including liability, auto, Business Owner Policy (BOP), workers’ compensation, and more. Because every business has its unique types of risk, your Texell Insurance agent will help tailor your policy to your specific needs.
Commercial Auto Insurance
Commercial auto insurance is designed for vehicles owned by or used for your business operations. Whether you’re using a car to travel to and from business meetings, or you’re carrying a few tons of cargo in a delivery truck, the right coverage can help protect you, your employees, and your business. A commercial auto policy provides collision and comprehensive coverage for vehicles you own, lease, hire, or use in your business and liability coverage for bodily injury and property damage caused to others by your use of the insured business vehicles.
What does commercial auto insurance cover?
Commercial auto insurance is liability and physical damage protection for vehicles that are used for business.
Why you need it:
Commercial vehicles are typically exposed to more risk than personal vehicles. A commercial policy can provide the extra protection needed.
General Liability Insurance
General liability coverage helps protect your small business from various claims, from physical injury to defense costs. A single accident could result in a costly lawsuit that you might not be able to handle. This policy is an excellent protection for your company, operations, and the relationships you’ve built.
What does general liability insurance cover?
General liability coverage helps protect your small business from a variety of claims such as physically injury to defense costs that come from normal business operations.
Why you need it:
Your small business is your livelihood. A single accident could result in a lawsuit that you might not be able to handle. This insurance is a great option to help protect you.
Business Owner Policy (BOP)
A Business Owner Policy (BOP) combines liability and property coverage into a single insurance plan that provides a great deal of protection. A BOP helps cover property damage and bodily injury claims and is necessary for small and medium-sized businesses. Our Texell Insurance agents shop a variety of carriers to find you the BOP that best fits your needs and your budget.
What does Business Owner Policy insurance cover?
This commercial coverage, also known as BOP insurance, combines both property and liability coverage into one package. A BOP does not cover your employees. You’ll need a separate workers’ compensation policy to cover them.
Why you need it:
It’s one of the easiest policies to purchase to help provide a wide range of coverage. Plus, its one of the most popular!
Workers’ Compensation
Creating a safe work environment is paramount to success as you manage your business. When your workers are protected, your business is protected. A component of a safe workplace is workers' compensation. A workplace injury impacts both the injured employee and the business, but a properly configured plan helps protect your employees and your bottom line.
What does Workers’ Compensation insurance cover?
There are three types of workers' compensation benefits in Texas:
- Medical benefits: Medical benefits cover medical care that is reasonable and necessary for the treatment of a work-related injury or occupational disease. The doctor giving treatment must be on a state approval list, or a listed physician must prescribe the treatment to receive this benefit.
- Income benefits: An injured employee can be eligible for temporary income, impairment income, and supplemental income benefits.
- Burial and death benefits: If an employee dies due to a job-related injury or illness, survivor's death benefit is 75% of the deceased worker's average weekly wage, up to an amount determined each year by state. The amount is divided among beneficiaries. This benefit also covers burial expenses up to $10,000.
Why you need it:
Texas does not mandate this for all businesses, but workers' compensation is required for certain industries. Requirements for coverage include:
- Any public employer, including cities, counties, and state agencies
- Companies that contract with government entities
- State universities
- Building and construction contractors for public employers
- Motorbus companies
- Motor carriers (providing transportation over public highways)
- Liquid propane gas and compressed natural gas dealers
- Employers of inmates in work furlough programs
Even if workers' compensation insurance is not required, it's still a good idea to consider. If an employee is injured on the job, the employer could be held liable to pay for expenses associated with medical treatment, ongoing therapy, and lost wages.
Landlord Policies
Whether you have one rental property or 20, protecting your property and your rental income is critical if you rent your property to others. Landlord insurance — sometimes referred to as rental property insurance — covers property owners and landlords from financial losses caused by property damage and liability.
What does Landlord Policy insurance cover?
While landlord insurance policies can differ, most policies cover damage to your rental property, lost income if your property is damaged and can't be rented for a time, and liability insurance. Liability insurance helps cover expenses associated if someone is injured on your property or if you are responsible for damage to your renter's property.
Why you need it:
If you have a loan on your investment property, your lender might require landlord insurance during the life of the loan. Even if you are not obligated to have insurance on your rental property, it’s strongly advised to have a policy in place. Renting your property will always expose you to financial and liability risks. A landlord policy will protect you and your investment.
Commercial Property
Protecting your business from a minor hiccup to a significant disaster makes good business sense. If you work from home, own a building, or lease your office, a commercial property insurance policy covers your business's physical assets. Selecting the right commercial property insurance is vital to your business. Let Texell Insurance help protect your business assets and your business income.
What does Commercial Property insurance cover?
Commercial property insurance covers your business's property and its contents if damaged, vandalized, or stolen. It may also cover a portion of your lost income if your business is unable to operate.
Why you need it:
You need commercial property insurance if you own or rent your office or work from a home office. If you rent your workspace, your landlord may require this type of insurance. Even if your lender or landlord doesn't require this insurance or own your workspace, this policy helps pay replacement costs if your business assets are destroyed, lost, or damaged.
Texell Financial, LLC is a wholly-owned subsidiary of Texell Credit Union. Insurance products are not issued, guaranteed, or underwritten by Texell Credit Union or Texell Financial, LLC and are not insured by the NCUA.