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Houston Business Insurance

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Business Owner's Policy

A BOP is a package that bundles property and liability insurance together through one affordable premium. The coverage is relatively broad and meant to appeal to small businesses with 100 or fewer employees.

General Liability

A form of insurance designed to protect owners and operators of businesses from a wide variety if liability exposures. These exposures could include liability arising out of accidents resulting from the premises or the operations of an insured, products sold by the insured, operations completed by the insured, and contractual liability.

Property Insurance

Insurance that indemnifies a person with an interest in physical property for its loss or the loss of its income producing abilities. This definition encompasses all lines of insurance written by Property and Inland Marine insurers and can also include certain kinds of insurance written by Casualty insurers, e.g., Burglary and Plate Glass coverages.

Workers' Compensation

Liability insurance requiring certain employers to pay benefits and furnish medical care to employees for on-the-job injuries, and to pay benefits to dependents of employees killed by occupational accidents.

Professional Liability/ Errors & Omissions

A form of insurance that indemnifies the insured for any loss sustained because of an error or oversight on his part. For instance, an insurance agency purchases this type of coverage to protect itself against losses from such things as failing to issue a policy. A form of insurance which covers losses resulting from financial institutions failing to effect insurance coverage.

Directors & Officers

Insurance that protects directors and officers from liability claims arising out of alleged errors in judgment, breaches of duty, and wrongful acts related to their organizational activities.

Business Automobile

Many vehicles used in business (such as private passenger cars, pickups, light vans, and sport utility vehicles) can be insured in the same manner as your private automobiles. Typically, the same coverages are available to protect you against liability claims that arise out of the operation of the business vehicle. Other coverages, such as protection for damage to the vehicle itself are also available.

Marine

A broad type of insurance, generally covering articles that may be transported from one place to another as well as bridges, tunnels and other means of transportation. It includes goods in transit (generally excepting transoceanic) as well as numerous "floater" policies such as personal effects, personal property, jewelry, furs, and other such items.

Umbrella

A coverage basically affording high limit coverage in excess of the limits of the primary policies as well as additional liability coverages. These additional coverages are usually subject to a substantial self-insured retention. The term "umbrella" is derived from the fact that it is a separate policy over and above any other basic Liability policies the insured may have.

Business Interruption

Protection for a business owner against losses resulting from a temporary shutdown because of fire or other insured peril. The insurance provides reimbursement for lost net profits and necessary continuing expenses.

Key Person Life

Insurance designed to protect a business against the loss of income resulting from the disability or death of an employee in a significant position.

Travel

Limited contracts covering accidents that occur only while an insured person is traveling on business for an employer, away from the usual place of business, and on named conveyances.

 
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