League City, Texas, is a booming town of 104,903 residents and full of outdoor fun. Known for an abundance of parks and recreation amenities, League City is a growing place to own a business.
If you're on the hunt for business insurance for your League City company, an independent insurance agent can help. Connect with an agent on TrustedChoice.com to get started.
Liability Insurance for Your League City, TX, Business
There are several different types of business insurances to choose from. The coverage you need will depend on the risk associated with your daily operations. No matter your exposures, you'll always need a commercial general liability policy, or CGL. This will protect your business from a variety of claims. Let's see what CGL will cover:
This policy will cover your business from financial loss if your operations or employees cause personal or advertising injury or property damage.
You are likely already required to carry CGL insurance if you own or lease a property. This protects their interests as well as yours. Speak with your independent agent on your League City business exposures.
Insurance for Your League City, TX, Property
Your commercial property, whether a structure or your business's belongings, will need coverage. A commercial property insurance policy can protect against several perils, including weather, theft, and fire. Let's take a look at the top natural disasters in League City, TX:
Commercial property insurance will provide coverage for these common exposures. It will replace or repair any damage to structures or belongings such as furniture or inventory. The one item that is not covered under your property policy is flood damage. Flood insurance is a separate policy altogether.
What is flood insurance?
Floods are number three on the list of League City natural disasters. If you do not want to fork out thousands of dollars to repair a flood-damaged property, you need flood insurance.
Every location is assigned a flood zone that can be found on your elevation certificate. FEMA determined this flood zone, and your independent agent can look it up. Quotes for your flood insurance can be easy if you work with an agent.
Your League City Business and Cyber Liability
Each business has some form of risk exposure when it comes to cyber. If your company operates an email or invoicing system, you're vulnerable to a cyberattack. Let's look at the numbers:
- Number of US identity records exposed in 2019: 164.68 million
- Number of US data breaches in 2019: 1,473
- Identity theft reports in TX in 2019: 73,553
The World Wide Web is an intimidating place, and it can be easy to expose your company to a cyber threat unintentionally. If an employee opens up an email by accident or clicks a link, your whole system can be at risk.
Cyber liability insurance: This will protect your business from financial risk due to a lawsuit from a cyber liability claim. Speak with your independent insurance agent on the cyber risks your company may have and get coverage.
League City Business Interruption Insurance
If you have to shut your doors due to a natural disaster, fire, or burglary, business interruption insurance can help. Sometimes closure is unavoidable when nature strikes. Your CGL policy will have a spot to add business interruption insurance for a period of time.
This coverage will pay for regular business expenses while you're unable to operate as usual. The costs it can cover are:
- Mortgage or rent payments
- Employee payroll
Connect with your League City agent and discuss your business interruption coverage.
Workers' Compensation Insurance for Your League City Business
There is a risk when hiring employees. They are an extension of your business, and in return, you are responsible for their actions. That's why it's important to have workers' compensation insurance to protect your company and employees. Workers' compensation coverage pays for medical expenses, lost wages, and disability insurance when an employee gets injured or ill on the job.
While you're not required to carry workers' compensation insurance in Texas unless you're in the government or construction industry, it's still good to have. It will protect your company's pocketbook when an employee holds you liable.
Workers' compensation minimum limits:
- $100,000 per occurrence for bodily injury
- $100,000 per employee for disease
- $500,000 total policy aggregate for disease
These are just the minimum limits of coverage, and most business owners select the $1,000,000 coverage limit. It's typically not much more premium for a whole lot more protection. Speak with your independent agent on your workers' compensation insurance.
Employee Benefits for Your League City Business
Attracting the right talent to fill your business can be challenging. Top employers are getting in front of the right employees by offering exceptional benefits packages. Employee benefits can cover things like healthcare costs, disability insurance, and life insurance. Let's take a look at the numbers:
- Employer health insurance contribution in the US as of 2018: 77%
- Average annual health premiums for family employee coverage in 2019: $20,576
- Average annual health premiums for single employee coverage in 2019: $7,188
Your TX employee benefits package can make life a bit easier for your employees by helping cover healthcare costs. Businesses that are willing to add value to their staff are the ones that retain them longer.
Work with your independent agent on an employee benefits option that will wow your next hire.
Why Work with an Independent Agent in League City, TX?
There are a lot of ways you can obtain business insurance. If you work with a League City independent agent, you will find the best coverage rates in town.
An independent insurance agent can compare pricing for your commercial insurance with multiple carriers, giving you options. Connect with an independent agent on TrustedChoice.com and get started.
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