As a responsible business owner, you have Texas transportation liability coverage, but do you have complete liability coverage for all of your commercial risk exposures? First, let’s review what general liability insurance covers, and then look at additional coverage options that could make a big difference for your business.
General Liability Insurance
A general liability insurance policy covers both property damage and injuries to others as a result of your commercial activities. Accidents may occur at your business location or while in transport.
Environmental Liability Insurance
The cost to clean up a hazardous chemical spill is astronomical. If even a part of your business involves transporting environmentally dangerous chemicals, you will want to have environmental liability insurance to cover accidents with your cargo. This type of insurance can also cover legal and settlement costs.
Truck Cargo Insurance
Once the cargo is loaded onto one of your vehicles, you are liable for its safe conveyance to its destination. Truck cargo insurance is a type of Texas transportation liability coverage that covers cargo for an amount agreed upon by the client and the transport company. Another example of cargo insurance is transit insurance that a moving company extends to its customers.
When thinking about your insurance coverage levels, take the time to investigate if you need additional types of insurance to fully cover your business. Doing so may make the difference between a viable business and a bankrupt one.