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Workers Compensation Insurance, commonly called Work Comp, is one of the most overlooked business insurance coverages by small business owners. It's also one of the most important areas to make sure you are well protected.
Many of our clients are shocked to learn that in Texas, there is no specified limit of liability for employee accident, injury or disease claims. If you don't have a Work Comp policy, your business is exposed to extreme risk, as you have first dollar liability with NO LIMIT. That part alone should motivate you to action.
Unlike almost every other type of coverage you can select for your business, there is no limit to select for a Work Comp policy. In Texas, the limits are statutory, which means they are determined by state law. In Texas, the law says there is no limit of liability. Our Work Comp policy options all provide coverage for accident, injury or diseasethat any employee experiences while performing their work duties.
This coverage would also be extended, generally speaking, if an employee drives a company vehicle as a regular part of their job and is involved in a motor vehicle accident.
Covers the additional damages that may be experienced by the family or dependents of an affected employee. This includes actions taken by a third party against your business (a good example would be an accusation of Contributory Negligence that helped cause the Work Comp claim), loss of consortium (performance of marital duties), and Consequential Injury (where a third party was injured in the same incident that injured the employee.)
How To Get The Best Possible Price
It REALLY helps to work with an Agent who has a personal relationship with the Underwriters who approve and set the price for your policy. Our relationships and expertise can make a massive difference in your overall insurance experience. All of the following factors can result in a better price for your insurance program:
