Small Business Insurance Checklist: Property, Umbrella and Liability

The right business insurance coverage offers financial support so that one unexpected event does not derail your operation. This checklist covers the three types of coverage every Texas small business owner should review.

Essential Insurance Coverage for Texas Small Businesses

Texas small businesses face a range of risks, including property damage, customer injuries and lawsuits that exceed standard policy limits. These three coverages are key considerations for many Texas small businesses.

Property Insurance

Property insurance may help cover physical assets such as your building, equipment, inventory and furniture against perils such as fire, theft and certain weather events. Coverage details and exclusions can vary by policy, so reviewing your declarations page is always a good idea.

General Liability Insurance

General liability insurance may include coverage for third-party bodily injury, property damage and personal and advertising injury claims. If a customer slips in your Houston, TX storefront or alleges your work caused them harm, this coverage is often what responds first.

Commercial Umbrella Insurance

Commercial umbrella insurance adds an extra layer of coverage on top of your existing liability policies. It typically applies when a claim exceeds the limits of your underlying coverage, which can be critical for businesses in Houston, TX facing larger lawsuits.

What Business Owners Should Know When Reviewing Their Coverage

Here are a few common questions you can ask yourself when reviewing your policy details:

• Are my property limits high enough to reflect current replacement costs?
• Does my general liability policy meet any contractual or licensing requirements applicable to my industry in Texas?
• Would a single large claim exhaust my current liability limits?

Get the Right Coverage for Your Business

A solid insurance program is tailored to each business, and the combination of property, liability and umbrella coverage looks different for every operation. Contact Advisor Insurance Group, LLC today to review your current policies and confirm your Houston, TX business has the right coverage in place.

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.