Business Insurance
Alexandria, Corpus Christi, Houston, Lubbock, Shreveport, Waco

You have a strong entrepreneurial spirit and have worked hard to create your business. We can help you implement the proper risk management strategy and insurance coverages to protect your hard work and ensure your business continues to have an opportunity to succeed and grow.

What is business insurance?

The term business insurance covers a wide range of policies available for purchase by businesses. There isn’t a single business insurance policy able to cover your entire range of risks. However, there is an upside. Because your business is unique, you can tailor coverage to best fit your business’s needs.

Who needs business insurance?

This answer can vary from person to person, but a good rule of thumb is “everybody with a business.”

Consider doing a brief self-evaluation by asking yourself the following questions:

1. Does your business have property you can’t afford to replace if it’s broken or damaged?
2. Is there a possibility you may be faced with a lawsuit for a substantial amount of money?

If your answer to either of these questions is yes, then it is strongly recommended you protect yourself and your business with a business insurance policy.

What does business insurance cover?

Business insurance coverage varies depending on the policy. However, there are six policies we strongly recommend for all business owners.

1. Commercial Liability

As a business owner, you are potentially liable for every product, service, and operation relating to your business. While sound procedures may be stressed throughout your organization, the fact remains that no person or machine is perfect. Despite your best efforts, harm caused to a third party relating to your business could lead to litigation. Commercial liability insurance is designed to protect business owners and assets from a variety of exposures.

2. Product Liability

Even though commercial liability and product liability sound similar, it is very important to know they are not the same. If your product may potentially damage a person or property, even if the product is properly used, then product liability insurance is essential.

3. Property Insurance

Imagine a fire breaks out and you lose your entire inventory. Or your business is burglarized causing physical damage and possibly lost assets. Your ability to recover from these incidents is dependent on your commercial property insurance.

4. Business Auto Insurance

Imagine you were involved in an accident in your personal vehicle while engaged in company business. Did you know your personal insurance may not cover you? What if you have employees on the road making service calls to customers? Commercial auto insurance provides valuable protection for your company-owned vehicles, leased or rented vehicles, and your employees' vehicles used for business purposes.

Read more about business auto insurance »

5. Workers Compensation

If you employ any number of workers who are not considered owners of the business, then you are legally required to maintain a workers compensation policy. You do your best to maintain a safe work environment, but if any of your employees are injured or become ill on the job, you are legally responsible. A workers compensation policy can cover the payment of your employee’s medical expenses, lost wages, and rehabilitation costs.

6. Excess/Umbrella

Without an excess or umbrella policy, a catastrophic claim could deplete your future income and business assets. Every business is vulnerable to devastating losses and lawsuits that could exceed your primary insurance coverage. This is a critical coverage—especially for small to mid-sized businesses.

Other beneficial policies may include the following:

Flood & Earthquake

Your basic insurance policy does not protect you against damage from earthquakes and floods. Whether you are in a high-risk area or moderate-to-low risk area, you should consider adding earthquake and flood insurance to your business insurance policy. More than half of all flood claims occur in areas considered to have low flood exposure, and each year there are around 5,000 earthquakes in the United States.

When it comes to natural disasters, here are important things to keep in mind »

Inland Marine

Do you have business equipment, materials, or supplies in transit? Do you store business property in an off-site location? Protect your most valuable business property or equipment wherever it may be with inland marine coverage.

Professional Liability

If you or your employees are specialists providing services that may cause a client financial damage through any errors or omissions, then you will benefit from professional liability coverage. You work hard to perform your duties and responsibilities to the best of your ability, but if your customer isn’t satisfied you may be faced with a lawsuit. Protect your employees, your business, and yourself with a professional liability policy.

Cyber

In today’s digital world, cybercrime runs rampant. Data breaches are an all-too-common occurrence and are commonly targeted towards small businesses. If you store sensitive customer information, such as account numbers, driver’s license numbers, and credit card numbers, and you are the victim of a data breach, you are liable for any damages caused by the breached information.

Learn about the importance of cyber liability insurance and how to protect your business from cybercrime.

How do I find the right business insurance for me?

One of our experienced business insurance brokers can help you through the complex process of finding the insurance policy that best fits your needs. We can help you identify your potential risks and liabilities and then work with you to tailor a policy that will protect your business.

We would love to chat with you. Contact us today!

Frequently Asked Questions

• Do truckers need general liability insurance? 

  General liability insurance is different from trucking liability insurance. They sound similar but cover very different things. You don't need it like you need trucking insurance, but it's still very beneficial coverage to have.  With general liability insurance, you cover things associated with business, not trucking or transportation themselves. A couple of these coverages include: 

  • Bodily injury and property damage that occurs due to a covered incident. 
  • Personal or advertising injury. 
• What does trucking insurance cover? 

  Every trucking insurance policy is a little different from the rest based on your or your company's needs. That said, there are several common coverages you can include when building your trucking liability insurance policy.

• How much does trucking insurance cost? 

  Your commercial trucking insurance premium can vary a lot from someone else's, even if you're in similar situations or have similar policies. Some factors that affect premiums include:

  • The type(s) of vehicles you're insuring.
  • How far vehicles are traveling per year.
  • Types of cargo. Drivers' driving records.
  • The location of your center of operations.
  • Standard operating radius.
  • How you store the vehicle(s).
  • Amount of coverage you opt for.

  As commercial trucking insurance professionals, we strive to know you and your worries. We spend time listening and learning to serve you better and help you find solutions. You've worked hard to build and promote your trucking operation. The next step is to protect it. We'll assess your risks and help you tailor an insurance policy. We'd love to chat with you. Contact Risk Services of Louisiana today!

• Not sure which of these coverages is right for your construction firm?

  Our staff provides accurate and timely delivery of certificates of insurance. We also provide assistance and reviews of certificates and risk transfers. With our understanding of the design and administration of wrap-ups, we can help contractors navigate the construction defect litigation landscape. Our tailored risk management solutions enable contractors to respond to market fluctuations and better predict future costs.

• Who needs construction insurance?

  If you're in a construction business you should always have commercial insurance. Many businesses are required by their clients to carry specific coverages before they can work for them. Businesses involved in construction work often specialize in trades like:

  • Excavation
  • Home Improvement
  • Land Clearing
  • Remodeling
  • Home Building
  • Asphalt Laying
  • Welding
  • Fence & Deck Building
  • Concrete Laying
  • Stone & Granite Work
  • Roofing