Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business 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. (read more)
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. (read more)
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 Optician Insurance
Texas Optician Insurance. As an optician, you assist your clients in finding the right pair of eyeglasses. Whether they need bifocal lenses, want to choose from the best designer frames, or simply need a pair of reading glasses for those times when their eyes feel stressed or tired, you help them find the right pair, and perfect set of frames.
With this in mind, your shop has several display cases, you offer a wide range of services (eye exams, testing, etc), and you have pricey equipment which can get damaged. When it comes to choosing your Texas optician insurance, these are a few forms of coverage to consider adding to your general liability coverage.
Texas optician insurance protects your practice from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Do You Need Optician Insurance?
Of course you have general liability for your practice. This will shield you against those slip and fall accidents, if a client is injured while visiting your offices, and to protect you from lawsuits stemming from injuries. Your policy should cover medical expenses, general doctor visits, and the cost of medication or surgery tied to injuries a client suffers, if you are found to be liable for their injuries. But, in addition to your general liability, what else should you add to your Texas optician insurance coverage?
Property Insurance: This will cover your TX business in a time of need. If a pipe bursts and causes major damage, if a storm hits, or if other damage ensues, this coverage will protect your business (building) as well as its contents. You can protect your designer frames, pricey equipment, testing equipment, and other supplies used in performing eye exams or other testing for clients. Due to the nature of your business, and high cost of equipment and designer frames sold in your storefront, as an optician, it is important to have the right property insurance policy in place.
Malpractice Insurance: - This Texas optician insurance is also know as professional liability or errors and omissions. In the event of a misdiagnosis, or if you perform eye exams/tests which cause an adverse reaction, or even if you use eye drops or other medications which cause injuries to clients, you have to protect yourself as an optician. Clients are going to sue you for nearly anything; and, as it pertains to their vision, if you are at fault, this can lead to costly and lengthy trials and legal cases. With malpractice insurance, you not only protect your name as a licensed optician, but also your entire practice you've built, in the event of a lawsuit.
Business Owner's Policy: A business owner's policy (BOP) will protect opticians from injuries, liability claims, and protects your office (structure and equipment). It is basically an addition to your general and property liability insurance coverage prongs to your optician insurance policy. Operations liability, contract liability, and advertising liability claims, may also be covered under your Texas optician insurance BOP, in the event of a lawsuit and pending legal charges or claims.
Cyber Liability: In the event you own an online site, where clients can purchase eyeglasses, order frames, or make purchases online, you should consider adding this form of coverage to your optician insurance policy as well. Due to the high risk of cyber threats, hacks, leaks, and possibly losing confidential information (such as addresses, credit cards, etc), you need to shield yourself from liability as an optician. With this Texas optician insurance cyber security addition, you can do just that.
Commercial Umbrella: A umbrella policy is excess liability protection. If your liability limits for general, property, cyber, or other insurance protections doesn't fully shield your business from liability, your umbrella coverage can. It is an addition to your Texas optician insurance policy limits, and can provide additional coverage for your business in the event of damage, injuries, business interruption, or other issues you deal with as a business owner in this field of work.
TX Optician Insurance
As an optician, you have enough to worry about in terms of running a business, advertising, and maintaining a steady patient base. You don't want to have to deal with a single lawsuit destroying everything you've built and worked for, and for this reason you need the right optician insurance coverage in place.
These are some of the different types of coverage you can add to your policy, which will shield you from liability, and help you protect your business from lawsuits, damage, and other forms of loss which would otherwise destroy your business and reputation.
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 Medical Insurance
Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.
- Ambulatory Surgical Center
- Art Therapy
- Assisted Living Facilities
- Dental Lab
- Diagnostic Imaging Centers
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Mental Health Counseling
- Occupational Therapy
- Physicians Office
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
Health care providers are the most trusted individuals in our society. Ironically, they are the same ones who can do the greatest harm. They actually have the right to invade our bodies with knives and to poison us with chemicals - all in the name of health care and with the goal of relieving our symptoms and hopefully bringing about a cure.
While the actions of these professionals normally benefit us, insurance coverage must be available for the times when mistakes happen and things go wrong. These professionals and their facilities have extensive property exposures that are becoming more and more intricate and whose values are increasing exponentially.
The 'one size fits all' approach that once could have applied to insurance for health care providers and their facilities no longer applies.
Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.
Professional and medical malpractice exposures are the most expensive and difficult of all exposures for health care providers. The commercial general liability policy excludes these exposures so separate coverage is needed. Most professional liability policies are written on a claims-made basis and, as a result, tail coverage and retroactive dates are important coverage issues to be aware of when evaluating the insured’s coverage needs and comparing coverages.
The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.
As a result, state legislatures have taken the following actions to address the situation:
Imposed a dollar limitation of liability for malpractice suits.
Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.
Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.
Passed laws to modify tort law procedures and doctrines that relate to malpractice.
Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.
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