The liability insurance policy is basically designed for taking care of your business in opposition to the various claims made by different people if they are affected or their property is affected because of your business actions. Previously it was a bit difficult but these days with the rising competition in each and every field it is not at all difficult to get hold of cheap liability insurance in Texas. Firstly you need to understand the fact that within the liability insurance policy there are a number of different types or categories of insurance policies.
The employers' policy for liability insurance only applies to those businesses, which employ a minimum number of staff members. This particular insurance policy enables the employer to meet the expenses of any kind of legal fees and damages for all the employees who have suffered any form of sickness or have got injured while working due to a mistake of the employer. All the employees who have got injured can ask for reimbursement to be provided to them if and only if the injury has taken place due to an employer's carelessness. Despite the fact that a business has gone into receivership or liquidation, a worker can still ask for his share of compensation that has to be provided by the company in accordance with the law of Texas. The worker has even got the right to claim the costs of ambulance and hospital treatments and all other miscellaneous expenses that are related with the treatment when a personal injury reimbursement is being made.
According to the law of Texas, an employer should have a liability insurance policy and the employer is required to be insured for a bare minimum of the some standard fixed amount. The exceptions of having the liability insurance policy for a business owner is as follows:
1) If the company is not a limited corporation and a single individual operated who owns the company and/or only provides work for the close family relatives and family members.
2) Registered or limited businesses that are having only a single employee, and where that particular employee also has more than or even 50 per cent of the share of the company's capital,
Hence except these 2 conditions, each and every company that is registered in the State of Texas must have a valid liability insurance policy in order to operate legally.