What Every Small Business Owner Should Know about Business Coverage 

The right business insurance can make all the difference when unexpected events occur. Here’s what every Texas small business owner should know about business coverage.

Essential Types of Business Insurance

Every business faces risks, but some types of coverage are fundamental for most Texas businesses:

• General Liability Insurance: This helps cover claims if someone is injured on your property or you’re held responsible for property damage.
• Commercial Property Insurance: Can cover your building, equipment, and inventory against losses from fire, theft, or certain natural disasters.
• Workers’ Compensation: While not required for all businesses in Texas, this coverage can help with medical costs and lost wages if an employee is injured on the job.
• Commercial Auto Insurance: If your business owns or uses vehicles, this coverage is essential for accidents, property damage, and liability.
• Professional Liability (Errors & Omissions): This is especially important for service-based businesses, as it helps cover claims of negligence or mistakes in your professional services.

Common Coverage Gaps

Many small businesses discover too late that their policies don’t cover everything. Some common gaps include:

• Cyber Liability: With more business conducted online, protection against data breaches and cyberattacks is increasingly essential.
• Business Interruption: If a disaster forces you to close temporarily, this coverage can help replace lost income.
• Equipment Breakdown: Standard property insurance may not cover mechanical failures or electrical issues.

How Our Team Can Help

Ready to review your business insurance or have questions about your coverage? Contact Luna Insurance Agency today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.