Professional Liability Insurance
Texas

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Professional Liability insurance for Texas Small Businesses

According to the U.S. Small Business Administration (SBA) Office of Advocacy, there are 2.8 million small businesses in Texas as of 2019, and they make up 99.8% of all businesses in the state. These small businesses added just under 227,500 net jobs to the state economy, making them a key driver of economic growth in Texas.

The top five industries for Texas small businesses are:

  1. Health Care and Social Assistance
  2. Accommodation and Food Services
  3. Construction
  4. Professional, Scientific and Technical Services
  5. Retail

As more and more small businesses take advantage of this booming Texas economy, many may find that they need a safety net in place to help protect their growing enterprise. Professional Liability insurance in Texas is one way that businesses can help safeguard what they are building.

What is Professional Liability Insurance?

Increasing competition means clients are becoming harder to please when it comes to the services and products they receive. Regardless of how meticulous you are when completing your work, small mistakes can snowball into a dispute and consequently a claim. Every time you give clients advice or take on work from them, you inadvertently take on exposure to liability as well.

This is where Professional Liability Insurance steps in. Also known as Errors and Omissions (E&O) insurance, this type of policy protects your business against claims of negligence, misrepresentations, or mistakes. Professional Liability claims are typically made by clients who allege some form of financial damage as a result of your services, products or employees.

If a product you have designed fails to work, or if your advice has resulted in a financial loss for the client, you could be slapped with a liability lawsuit. This might assert that there was an error in your work or that the work you performed was not up to par. But if you are covered with Professional Liability insurance in Texas, you and your business can be protected from third-party claims brought as a result of a professional error or negligence.

What does Professional Liability Insurance Cover?

Even if a claim is baseless, court costs and legal fees alone can run into thousands of dollars. For small business owners, the financial burden could also impact their operations. In worst case scenarios, liability claims can lead to bankruptcy and even business closure.

Depending on the type of coverage you choose, and the limit agreed to in your insurance contract, Professional Liability insurance will save you from:

  • Legal Costs – Securing competent legal representation doesn’t come cheap, and lawyers typically charge an hourly rate.
  • Court Expenses – Including filing documentation with the court, underwriting charges, administrative costs, and other related expenses.
  • Settlements – If your client agrees to settle out of court, you may be saved from a long-drawn-out litigation process, but you will nevertheless have to make a payment depending on your attorney’s advice.
  • Judgments – On the other hand, if your case goes to trial and is found in favor of the plaintiff, you will have to pay the amount as determined by the court.

Importantly, Professional Liability insurance in Texas covers you even if you are not at fault. Baseless claims can be just as expensive to resolve as those that do have merit. A Professional Liability policy will help you defend your business and professional reputation by paying the above, so you are not left completely out of pocket for these costs.

What is not covered?

Professional Liability insurance helps protect many types of businesses from common risk exposures they may face. However, it’s important to know that it does not cover your business for everything. You may need to seek out other forms of coverage for events, such as:

  • Damage to your commercial premises or property
  • Damage to a client or other third party’s property
  • Employee work-related injury or illness
  • Third party injuries on your premises
  • Business interruptions

BizInsure offers other types of coverage that can help shield your business against these and other common risks faced by small businesses. Texas small business owners might also want to consider General Liability, Workers’ Compensation, and a Business Owner’s Policy to more fully protect them against a wide array of exposures that may affect their company.

Who needs Professional Liability Insurance?

Professional Liability insurance applies to businesses and individuals who provide professional services, including designing solutions, giving clients advice, making educated recommendations or those who represent the needs of others.

Professions that may need Professional Liability insurance in Texas include, but are not limited to:

ArchitectsNotary Publics
ConsultantsPersonal Trainers
Engineers Pilates Instructors
Home Care Providers and BusinessesYoga Instructors

As you can see, a wide range of occupations and professions could benefit from a Professional Liability policy in Texas. If your small business provides advice or services, represent others’ interests on their behalf, or engages in other activities that could leave you open to liability claims, then you may want to consider putting a policy in place to protect you and your business.

Are businesses required to have Professional Liability insurance in Texas?

State law does not mandate Professional Liability insurance in Texas for small businesses. However, there may still be instances where a policy might be required to do business in the state.

Professional associations sometimes require their members to hold minimum levels of Professional Liability coverage to become licensed or work in the field. The website for any professional association that you belong to should have more information about their Professional Liability insurance requirements, if any.

Clients may also require you to have Professional Liability insurance to work with them. This will typically be written into a business contract. You may be required to show proof of insurance before signing the contract or beginning work on the project.

It may still be wise to have a Professional Liability policy even if you are not required to have one. Without it you will likely need to pay any liability claims from your own pocket, which could be financially devastating to your business and personal savings as well.

How much does Professional Liability Insurance cost?

The cost of Professional Liability insurance in Texas can vary widely. Each Professional Liability policy is different, as they are tailored to the unique needs of the small businesses they cover.

Insurance companies use a variety of factors to help determine the amount you will regularly pay for Professional Liability insurance (commonly known as the “premium”). Some factors that will determine the cost of your Professional Liability Insurance premium are:

  • The nature of your business and degree of risk involved – Like any type of insurance, the higher the risk, the higher the cost to meet those risks.
  • The size and turnover of your business – Larger projects or more work volume increases your exposure to risk.
  • The individuals being covered – The person’s qualifications or suitability to carry out their duties, and if any previous claims were brought against that individual
  • The industry you work in
  • Your previous claims history
  • The amount of insurance coverage required

As a specialist in your field, you will require unique coverage that is designed to meet specific challenges in your profession. Professional Liability insurance could give you that invaluable protection you need.

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The process was fast and easy and the professional staff was very knowledgeable with any questions that I had and ready to help
VALERIE M.
06:40 31 Mar 22
Friendly agents. Timely replies. Fair pricing. This is a good fit for my business! Thank you, Noah, for all your help.
Beth Anne V.
19:27 28 Mar 22
They are awesome
Tony H.
00:41 07 Jan 22
Noa made sure I had all the information I needed for a first time business owner . He helped me understand what I needed to secure a quality policy and he was super helpful when explaining how the policy would serve its purpose to my company. I was very satisfied and had an Awesome experience, I think people like that make the company look good!
Wayleen O.
04:36 15 Oct 21
I was in need of WC, GL and PL coverages for my business and was able to shop, discuss, confirm and purchase all the coverages in two days! This was a great experience, especially when "Time is Money". Noah Bowman was very professional and knowledgeable. Thanks!
AmeriCreed 1.
15:42 23 Sep 21
MOVING FORWARD, I WILL BE SENDING ALL OF MY BUSINESS TO THIS COMPANY !!!! Incredible customer service!!! Thanks
THEODORE W.
19:49 09 Sep 21
Their representative clearly explained different kinds of policies to help me select the one appropriate for my needs and then helped me enroll by phone painlessly. By the end of the call, I had a policy in place.
Dissent D.
22:21 02 Sep 21
Eugene was Awesome!!!!
Lakesha G
17:19 21 Jul 21
Excellent solution for writers and authors professional liability policy as well as coverage for copyright and trademark infringement. Service was prompt and excellent.
Lane
18:22 22 Jun 21
Done in less than an hour!
William O.
00:30 02 Jun 21
Efficient, and great value. The agent was able to give us a quote and a new policy in a short period of time. Thank you
Brenda J.
20:30 24 May 21
I had a great experiencing obtaining several of my insurance needs as a landscaping company here in Northern Colorado. BizInsure's team took care of my needs and was very responsive to help with paperwork needed to secure a potential client account!
Arik S.
16:34 10 May 21
Very efficient they were able to help me out with my request promptly....highly recommend this companyI am very happy to have them
Elba P.
18:50 26 Apr 21
I need a help getting errors and omissions insurance along with general liability. Jose was very friendly informative and was very patient with me during the process. He found me some of the best rates for the coverage that I needed. Highly recommend
Casper M.
19:51 20 Apr 21
I had numerous conversations with several business insurance agents over a month's time. I also had several conversations confirming the policy inclusion/exclusions and asked many questions. My BizInsure agent was professional, knowledgeable and most important—detail oriented. Even after having an initial conversation a month earlier he knew and *remembered* all my personal/professional insurance needs. When I asked for additional information on the third call he was able to provide me with details very quickly. He was also VERY patient. That is a big plus in my opinion. It illustrated a high level of respect for my needs. I also found when I called back and asked to talk with the initial agent, the person who answered the call was able to get in contact quickly and my agent responded and returned the call within 5-10 minutes. The transaction was smooth, and I think it's a good sign should I ever need to make a claim. I highly recommend BizInsure.
Poetic F.
21:00 07 Apr 21
The rep was extremely helpful actually lowered my quote and made sure I was covered to fit my needs with my growing business! 5star!!
Franklin B.
19:04 16 Mar 21
Excellent service and prices.
Cassiopée V L.
23:13 09 Mar 21
Mr. Daniel Scott was very responsive to my professional needs.
Stephanie W.
17:38 18 Feb 21
Eugene deserves a raise! First time purchasing insurance and he made the process so simple for me. His patience and attention to detail left me feeling confident in my decision to choose BizInsure. Gracias Eugene!
Esined P.
23:32 17 Feb 21
The customer service provided by Jose was outstanding. He explained everything in a very clear/logical way and answered all of my questions. After providing all the information to obtain general liability insurance, Jose sent me the declaration page of the insurance for review. All of the information matched what I provided over the phone and there were no typos. The next day I called back to purchase the insurance which was easy and fast. Overall, my experience with BizInsure including the customer service by Jose exceeded my expectations.
Joe W.
03:29 12 Dec 20
Hiscox/BizInsure made getting Liability Insurance very easy and reasonable.I expected it to be a long and complicated process and it was a nice surprise that they made it so uncomplicated. Thank you. Lisa
Lisa W.
21:51 24 Nov 20
Eugene was incredible. I called 4 other brokers before him who were impossible to get any help.
rhonda H.
23:26 12 Nov 20
Very quick to get in touch with you and good with follow up. Had some trouble retrieving my quote to log into my account initially but Daniel assisted me and the changes were made to get me into my account. Great value for the money.
Fran S.
16:34 20 Sep 20
Very happy to be insured with this company. Professional, Timely, very helpful. Thank you Juan, you made it so much easier for me to understand.
Aileen D.
19:55 15 Sep 20
This company responded when I needed them to respond while facing a deadline. They are an excellent choice for business Insurance.
Michele H.
01:52 12 Sep 20
Jose Quintero took such great care of me and was very patient explained everything I did not understand and got me set up quickly. Fabulous customer service
Christina R.
02:41 27 Aug 20
I can't say enough good things about Daniel Santos kind and effective communication skills as an insurance agent. Daniel was so pleasant, friendly and efficient with helping me obtain insurance as a teacher. If I were to give Daniel a grade, he has earned an At . He made the process easy to understand, it was far easier than what I anticipated. Nancy S.
Nancy S.
00:47 26 Aug 20
I was in need of professional liability insurance for my sole proprietorship. A friend referred me. Everythng was quick and simple and AFFORDABLE!
hope J.
20:31 25 Aug 20
If you need Private Home Care Provider insurance for your company, BizInsure, LLC can get it for you!
Pamela C.
16:45 24 Aug 20
Great and fast service!!!! The representative was very professional!!!!
Tanya S.
19:51 14 Jul 20
I was tryi9ng to find commercial liability insurance for my new comp-any and BizInsure was easy to use and very affordable which is great for me as a new business.
Jimmy S.
19:01 14 Jul 20
Great service insurance prices are great for professionals looking to get insurance for businesses....
Rhonda G.
22:34 22 Jun 20
The provided very professional service and made the process easy.
Paul R.
21:51 04 Jun 20
Bradley Hoyle from the Biz Insure team was excellent to work with. Everything was quick and smooth. Great service, much appreciated!
Kristene S.
02:03 04 Jun 20
Anthony Spencer was great!! Very quick response time!! He was very Professional! I would suggest him because he helped me find a affordable rate and explained all the technicalities..
Fre H.
16:38 28 May 20
I was referred to Bizinsure by a industry trade group that I am a member of. It was easy to get a quote online and then received excellent customer service from Bradley H. to complete my policy purchase over the phone. I have shared this company information now with other business owners for their policy needs.
Dawn T.
22:11 08 May 20
This company was very precise with explaining services and made sure I chose the right business insurance coverage, great customer service at purchasing.
Nekeisha B.
01:30 05 May 20
Amazing
Jasmine Q
14:31 02 Dec 19
Trish is the most patient, professional and understanding insurance agent I’ve ever worked with. Trish has taken care of all my business insurance needs for the last couple years. I am really happy that I found an insurance agent that I know will take care of me & all of my concerns. I feel like a valued customer & I appreciate the great customer service that I get every time!!THANK YOU!
Dr. Youssef C. A.
17:21 14 Nov 18
Tricia helped me get insurance for my business. The task of obtaining a quote was really starting to frustrate me until I was referred to BizInsure through a different agency. Tricia got me a quote fast, and even took a down payment over the phone and issued the proof of insurance the same day. a+ service, would do it again in a heartbeat!! Thank you!!
Josh M.
18:07 22 Jun 18
BizInsure was a great find! I did not have to fill out applications, and Tricia was able to quote and bind business insurance for me within half an hour.
Allison Y.
17:28 21 Jun 18
Started doing business again and needed a policy fast. Ramez was reasonable, helpful and the rates are OK. Buyer beware? Sure, for me it turned out OK this time. Worth a call.
Mark W.
23:42 13 Nov 17
Great customer service. I've been very inpressed with my dedicated representative that had helped me navegate my insurence needs. Thanks so much!
Graham B.
22:12 23 Jun 17
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