Running a business involves navigating a maze of responsibilities; insurance is vital to this journey. We’re here to guide you through the essentials at West Texas Insurance Agency in Amarillo, TX. Let’s explore the commercial insurance products you’re legally required to carry.

Workers’ Compensation Insurance

If your business has employees, workers’ compensation insurance is typically mandatory. This coverage protects your employees by providing benefits for work-related injuries or illnesses. It also safeguards your business from potential lawsuits, ensuring you comply with state regulations and avoid hefty penalties.

Commercial Auto Insurance

Does your business own vehicles? If so, commercial auto insurance is a legal necessity. This coverage protects against liability in the event of an accident involving company vehicles, ensuring that both your business and employees are covered for damages and injuries. It’s crucial for businesses that rely on transportation for delivery or client visits.

General Liability Insurance

While not universally mandated, general liability insurance is often a requirement for leasing property or securing contracts. It covers claims related to bodily injury, property damage, and advertising mistakes, offering essential protection for your business operations. Many landlords and clients insist on this coverage as part of their agreements.

Professional Liability Insurance

Professional liability insurance (or errors and omissions insurance) may be required for businesses providing professional services. This coverage protects against negligence or inadequate work claims, ensuring your business can handle potential legal challenges without financial strain.

Understanding these insurance requirements can feel overwhelming, but you’re not alone. We offer tailored advice at West Texas Insurance Agency in Amarillo, TX, to ensure your business meets all legal obligations. Contact us today to discuss your specific needs and secure the right coverage for your enterprise.