Is professional and general liability the same?
General liability covers physical risks, such as bodily injuries and property damage.
covers more abstract risks, such as errors and omissions in the services your business provides.
How much is professional liability insurance in Texas?
An assessment of your business is required to provide an accurate quote, but a recent survey found that the average annual cost of professional liability insurance was around $140/month for a small business.
How much is liability insurance for a small business in Texas?
Professions that experience more injuries, such as construction trades, will typically pay more than desk jobs. Small business owners in Texas currently pay a median annual premium of $49 a month for business insurance, according to NEXT Insurance data.
Do I really need professional liability insurance?
It is important to get insured since the legal costs to defend your business can really add up. PI is there to cover your business and also take care of unexpected costs such as damages, claims, investigations, PR consultants, and other expenses incurred.