Business insurance is often a term that entrepreneurs encounter when starting a company in Dallas, TX. Some small business owners, however, do not understand the basics of a commercial indemnity plan. Is business insurance required to start a company in Texas? How much coverage should you buy? The agents at State Insurance Solutions can help you find the business insurance policy that works for your new company.
Is business insurance required in Texas?
There is no official rule that requires business owners to obtain general liability insurance in the state of Texas. You may, however, want to consider purchasing a plan that covers you in the instance of an incident in which you are found negligent.
Commercial insurance requirements
You may not have to purchase a general liability insurance plan to run a business in Dallas, TX. Such does not mean that you can start a company in town without any insurance.
Those entrepreneurs with companies that employ workers need to purchase workers’ compensation insurance a well as unemployment insurance to remain in compliance with the law. Workers’ compensation pays employees who are injured while completing tasks related to the job. Your workers do not have to be on the premises to receive workers’ compensation. They do, however, have to prove that their injuries are directly related to the job.
Workers’ compensation insurance protects both the employee and the employer. Employees are compensated for the time they need to take off from work to recover. Meanwhile, employers are protected from lawsuits when a worker’s compensation insurance plan is in place.
Call State Insurance Solutions for help!
We have been in the business of insurance for many years. Our agents can help you find the right business insurance policy for your company. Call today to get started with a quote!