Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Texas HR Consultant Insurance
Texas HR Consultant Insurance. As an HR consultant you are going to work with people of various backgrounds and in different fields of employment. Working as an independent HR consultant comes with many risks, and for this reason requires you invest in an Texas HR consultant insurance policy.
Of course you will want a professional liability policy to protect you from negligence claims from your advice. Further, having general liability will cover for slip and fall accidents, or other incidents which occur in your office. These policies will pay medical bills and other losses including legal fees, in the event a client or visitor sues you.
Texas HR consultant insurance protects your firm from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Types Of HR Consultant Insurance
In addition to a general liability policy, it is important to consider the additional Texas HR consultant insurance coverages. Some of the important ones are:
Errors and Omissions - Also know as professional liability, this protection will shield you from liability in the event a client sues you for negligence, breach of contract or providing information which may result in financial loss. In some instances, advice you offer doesn't always equate to financial gains for a client. This form of coverage will protect you from these lawsuits, and others which might stem in a similar fashion, and are common for TX human resources consultants.
Employment practice liability - Another optional form of coverage you might want to invest in when choosing your Texas HR consultant insurance policy is employment practice liability coverage (EPL or EPLI). With this form of coverage, you are protected from employment based complaints.
In the event you have several employees working on staff, different issues may arise, including an employee suing for wrongful termination, sexual harassment or other workplace related incidents. Illegal discrimination, wrongful termination, and other employee related lawsuits are covered under EPLI.
Workers Compensation - This will cover your business should any of your employees get injured while working on the job. TX workers comp is required for any non-owner or partner employees.
Cyber Liability - In the event you offer online services or have a website where clients information is stored in a portal, you want to protect fit rom cyber threats and hacking. Additionally, if clients pay via credit card, or online check, the possibility of a hack, or client's information being stolen, is something you have to consider.
When choosing an insurer for your Texas HR consultant insurance policy, discuss this form of protection if you deal with clients online, or use online resources in any fashion when providing HR related services to your client base.
Business Property - If your office is vandalized, if materials are stolen, or if a major storm causes damage to your office, you need insurance in order to cover these losses, and replace damaged equipment or office furniture. If you do not have the right Texas HR consultant insurance policy in place, this can end up costing you much more out of pocket than you bargained for as an TX human resources professional.
With the right coverage in place, you not only have protection from such damage and loss, but also from vandalism, theft, and other targeted attacks to your business.
Commercial Umbrella - If your policy limits aren't high enough, or if you simply want to play it safe, umbrella coverage is an option to consider. It is going to cover excess liability, or claims that go over the underlying general and some other liability limits.
Umbrella coverage is a great way to have higher limits in place, and to ensure you are protected from any and all potential threats which are lingering around your practice, as an human resources consultant working with big or small clients and businesses on a daily basis.
Why Buy HR Consultant Insurance?
There are many threats to your business, your licenses, and your livelihood when working with clients from different backgrounds and industries. As an human resources consultant, insurance is one way to shield yourself from those threats, and avoid the financial loss which might come from a single lawsuit which is filed against you.
In addition to this, there are certain clients who will require you to purchase Texas HR consultant insurance, so it is something you will have to look into regardless of whether or not you want to spend the money.
TX HR Consultant Insurance
When choosing an insurer and level of coverage to purchase, these are a few optional coverage protections to consider investing in, when you are getting quotes for your Texas HR consultant insurance policy.
Texas Economic Outlook & Requirements For Commercial Insurance
If you are considering opening up a business in the Lone Star State, you first want to make sure that it is a sound location for your operations. That means that you should understand some key information related to the state's economy, as well as the types of insurance coverages that businesses are legally required to carry.
Economic Outlook For The State Of Texas
In terms of the economy, Texas offers fantastic news for those who are thinking about starting up a business in this state. That's because the Lone Star State has the second largest economy of all 50 states in the nation. The gross state product is valued at an estimated at over $1.706 trillion in 2019. In 2015, the state was the headquarters for six of the top 50 Fortune 500 companies.
As expected, several industries contribute to the economy of Texas. One of the most notable industries is agriculture. In fact, this state has the highest production of cattle, sheep, and goat products. It is also the largest producer of cotton and cereal crops. Other crops that this state is famed for include cantaloupes, watermelons, and grapefruits.
Other leading industries in the State of Texas include:
- Computer Technology
If you are considering going into business in TX, having an operation in any of these industries will likely afford you success.
Commercial Insurance Regulations For Business Owners In TX
The Texas Department of Insurance regulates is the main insurance regulatory agency in the Lone Star State. Texas is quite lenient when it comes to insurance requirements for business owners. In fact, there is only one type of insurance that business owners are legally required to carry, and that is commercial auto insurance. If you are planning on using a vehicle for anything related to your business, whether it's making deliveries, transporting goods, or meeting with clients, you must have a commercial auto insurance policy.
While Workers' Compensation coverage is required in every other state, in TX, is it not mandated; however, if you decide not to carry this type of coverage, you will be required to offer your employees some type of incentive package in the event that the do become injured or develop a work-related illness.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Attorney Lawyer
- Business Consulting
- Corporate Wellness
- Court Reporter
- Debt Collection Agency
- Electrical Engineering
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Services
- HR Consultant
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Project Management
- Temporary Staffing
- Tax Preparer
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
Request a free Texas HR Consultant insurance quote in Abilene, Allen, Alvin, Amarillo, Arlington, Austin, Balch Springs, Baytown, Beaumont, Bedford, Benbrook, Big Spring, Brownsville, Bryan, Burleson, Carrollton, Cedar Hill, Cedar Park, Cleburne, College Station, Colleyville, Conroe, Coppell, Copperas Cove, Corpus Christi, Corsicana, Dallas, DeSoto, Deer Park, Del Rio, Denison, Denton, Duncanville, Eagle Pass, Edinburg, El Paso, Euless, Farmers Branch, Flower Mound town, Fort Worth, Friendswood, Frisco, Galveston, Garland, Georgetown, Grand Prairie, Grapevine, Greenville, Haltom City, Harker Heights, Harlingen, Houston, Huntsville, Hurst, Irving, Keller, Kerrville, Killeen, Kingsville, Kyle, La Porte, Lake Jackson, Lancaster, Laredo, League City, Leander, Lewisville, Little Elm, Longview, Lubbock, Lufkin, Mansfield, Marshall, McAllen, McKinney, Mesquite, Midland, Mission, Missouri City, Nacogdoches, New Braunfels, North Richland Hills, Odessa, Paris, Pasadena, Pearland, Pflugerville, Pharr, Plainview, Plano, Port Arthur, Richardson, Rockwall, Rosenberg, Round Rock, Rowlett, Sachse, San Angelo, San Antonio, San Benito, San Juan, San Marcos, Schertz, Seguin, Sherman, Socorro, Southlake, Sugar Land, Temple, Texarkana, Texas City, The Colony, Tyler, University Park, Victoria, Waco, Watauga, Waxahachie, Weatherford, Weslaco, Wichita Falls, Wylie and all other cities in TX - The Lone Star State.
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