Business liability can protect your company from a variety of financial and legal risks: errors in professional services or products you provide, employee on-the-job injuries, not completing a project per the required standards, and damage to or destruction of a building under construction.

Professional liability insurance, or errors and omissions (E&O), covers the services or products you provide. It protects you in the event a client claims financial loss due to your company’s mistakes or omissions in the agreed upon work.

Workers’ compensation insurance isn’t required in Texas but protects you financially and legally from catastrophic losses by limiting the amount and type of compensation for employees on the job. It also provides for employees’ needs by covering medical bills, lost wages, and death benefits.

A surety bond is insurance you purchase to protect your customer. It allows them to pay someone else to complete the project if your company doesn’t complete the project per the required or contractual standards. Having a surety bond allows your business to say you are “bonded.” Some civil and construction contracts require them. Surety bond coverage can be continuous or for a set term.

Builder’s risk insurance can protect whoever would experience a financial loss, whether the owner or a general contractor, if a building is damaged or destroyed during construction. It covers costs such as labor, supplies, your payments or profit, lost income due to lost rental space, plus architectural, engineer, or legal fees. It typically covers perils like flood or earthquake. It also has to meet the requirements of the contract or mortgage.

Koch Insurance Group can help you find the best coverage for your business, no matter its size or industry.