Every business needs to have insurance to protect against risks that your company and industry face. Energy companies have a particular requirement to carry insurance. Oil and gas companies face specific hazards that can be dangerous to employees and others. TX oil and gas company insurance will provide protection in case an injury or other type of claim is made against your business.
TX Oil and Gas Company Insurance
Oil and gas companies have some hazards that other types of companies don’t and therefore it makes insurance more complicated. Your policy needs to identify the areas of exposure so that the risks are known and adequately covered. In addition to typical risks such as from falls and the operation of machinery, your policy needs to cover much more.
It needs to take into consideration all of the areas of your business where there is a potential risk of injury. It must cover oil fields and ancillary services, field equipment work and more. In addition, you need to consider the risks of others who work on your property. For instance, you may have surveyors and contractors who work on the property for a period of time. You need to make sure that you are aware of the coverage required.
The coverage for TX oil and gas company insurance must be high enough to provide adequate protection. An experienced agent will work with you to assess your needs and help determine the type and amount of coverage that is best for your company.
Protect Your Business
The risks involved in the oil and gas industry can be much higher than those of other types of businesses. This means that if you don’t have insurance or if you have an inadequate amount of coverage, your company could face serious financial harm if a claim is made.
In addition to protecting your company from high dollar claims, it can also provide you with protection in fighting false claims. The insurance company will investigate the claim and determine whether there is enough proof that injury or damage occurred due to negligence.
TX oil and gas company insurance will also provide you with legal representation should it become necessary. In some large or serious claims you need help from an attorney. Your lawyer will defend your rights and try to resolve the situation in the best possible way.
In addition to liability insurance, your company also needs other types of insurance coverage. You will need to have workers’ compensation insurance in place. Workers’ compensation insurance provides employees with medical coverage and wages while they are recuperating from a work-related injury. This type of insurance is certainly a necessity for oil and gas companies because of the high risk to employees.
You may also require vehicle or fleet insurance to cover vehicles that are used for the operation of your business. Some of these vehicles are specialized, such as those that carry oil and gas. They carry hazardous materials and therefore require special protection. We will help you assess your insurance needs and create a policy that provides the protection your company requires.