Nowell Agency, Inc. > Insurance News > Think Your Texas LLC Doesn’t Need Business Insurance? Think Again!

Think Your Texas LLC Doesn’t Need Business Insurance? Think Again!

Helpful Tips from The Nowell Agency

When you go into business as a contractor, you have many choices. Do you remain a sole proprietor? Do you need to open a business bank account? Should you incorporate it? When should you hire your first employee? Each question often brings more questions than answers. No matter what industry you are in, plumbing, landscaping, HVAC, or another trade, you should take the necessary steps to keep your business growing.

Protect your company and your personal assets when you obtain contractor insurance in Texas from The Nowell Agency. Our experienced team of brokers are ready to aid you in finding the best combination of policies at reasonable rates so that you can keep practicing your trade with confidence. We work hard to serve you with outstanding customer service and love to share our knowledge with you.

4 Reasons Your Limited Liability Company (LLC) Should Have Insurance

A lot of owners choose to use a limited liability company as their operating entity. While it can provide some protection in certain situations, don’t ignore the benefits of purchasing contractor insurance. Here are four reasons to do so:

  1. To Protect Your Business Assets: A limited liability company is a business entity that can help you keep your personal assets from being used to satisfy business obligations. In other words, it can help save your house. However, it may be possible for you to lose company assets if you don’t have a general liability policy in the event of a claim of personal injury or another covered event. If your company is sued, you may have to liquidate your cash, accounts receivables, equipment, and materials to meet legal obligations. You may lose your entire business and everything you have worked hard for.
  2. To Protect Your Personal Assets: Without taking the proper precautions, your personal assets could be at risk even if you do have an LLC. For example, mixing personal and business funds or personally guaranteeing a business loan can put your home and belongings at risk. You could lose everything.
  3. To Offset Costs if You Are Sued: In our “sue-happy” society, you can be sued for almost anything. That means retaining an attorney, possibly court or mediation, and potential damage to your reputation, even if you’ve done nothing wrong. You should have Texas contractor’s insurance to cover against damage to a customer’s property, personal injury to a third party, and even claims of libel or slander.
  4. To Protect Employees: As your business grows, you will probably hire employees. Many states require worker’s compensation insurance. This coverage protects your team if they become ill or injured while on the job. It also protects you if your employee tries to sue you. Even if it isn’t mandatory in your state, it can safeguard your business and personal assets.
  5. Partner with the Experienced Brokers at The Nowell Agency

    Keep forging ahead in your contracting ventures with confidence. Let the team at The Nowell Agency review your existing policies, look for potential gaps, and custom design a contractor insurance program that will safeguard your Texas company. Let our 30 years of experience work for you!

    Call one of our offices near you to schedule a meeting with a knowledgeable and experienced broker at The Nowell Agency to discuss Texas contractor insurance. Request a quote online.


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    The Nowell Agency has been my primary agent for many years and they are attentive, well-staffed, and easy to talk to. Their agency has helped me through state to state moves and career change and kept my assets covered.

    James G.

    My very first insurance experience was when I bought my first house and I called the Nowell agency for a quote. I had no idea what I needed or how much and they were so very kind and knowledgeable and explained everything to me in detail which I so much appreciated. That has been 4 years ago and im still a customer never plan to leave.

    Ashleigh D.

    I have been very pleased with the quick and professional service by the Nowell agency. My agent was very efficient at locating a policy that met my needs and budget. Thank you to Kristy and the Nowell agency for providing me with fantastic customer service. I highly recommend this agency. You will not be disappointed.

    Tripp W.


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