No matter the size of your business, it's vulnerable to many common and unexpected threats daily. Your company could eat these costs out of pocket without the right business insurance. That's why it's relevant to consider getting a policy sooner rather than later.
The more than 350,700 small businesses throughout Oklahoma have a greater chance of successfully recovering from disasters with the right coverage. An independent insurance agent in Bixby can help your company get equipped with business insurance right away. For starters, though, here's a breakdown of business insurance in Bixby, OK.
How Much Does Business Insurance Cost in Bixby, OK?
Business insurance costs vary depending on the type of business and its specific risks and operations. They also depend on:
- Your business's location
- How many employees you have
- Your business's annual revenue
- Your business's annual payroll
- Which coverages you need
Though it's tough to offer an average figure without knowing this information off the bat, an independent insurance agent in Bixby, OK can provide you with several quotes for coverage in your area.
Is Business Insurance Required in Bixby, OK?
Businesses in Oklahoma with five or more employees must carry workers' compensation by state law. There are a few exceptions to this law, including for businesses that are:
- Sole proprietors
- Partners and stockholders
- Agricultural businesses
- Independent contractors
- Small family businesses
Workers' comp is mandatory by law in Bixby, OK, and protects your workers against death, injury, or illness on the job or as a result of job duties. In exchange, employees cannot sue your business for these incidents. An independent insurance agent in Bixby can equip your company with workers' comp today.
What Does Business Insurance Cover in Bixby, OK?
Your unique business's needs may differ, but many common coverages included in a business insurance policy are:
- General liability insurance: Covers customer and other third-party bodily injury claims or property damage against the business.
- Pollution liability insurance: Covers claims of environmental pollution and associated cleanup fees.
- Premises liability insurance: Covers customer and other third-party claims of injury or property damage on the business's premises.
- Employment practices liability insurance: Covers employee claims of wrongful termination, discrimination, harassment, etc., against the business.
- Cyber liability insurance: Covers many types of incidents like data breaches, phishing incidents, etc., that can expose, distribute, or corrupt sensitive information like stored payments and employee records.
- Commercial auto insurance: Covers accidents and other incidents that can damage company vehicles or result in a lawsuit against the business.
Your Bixby, OK independent insurance agent will review your specific business's coverage needs when helping you assemble your business insurance policy.
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What Does Small Business Liability Insurance Cover in Bixby, OK?
Small business liability insurance covers third-party claims against your company for incidents of bodily injury or property damage. Without this coverage, your business would have to pay for costs like attorney, court, and settlement fees out of its own pocket. Just one major lawsuit could cause bankruptcy without this protection.
Talk to your Bixby, OK independent insurance agent about getting set up with small business liability insurance ASAP. No matter how small your business, it's never invulnerable to lawsuits. Having the right coverage from the beginning can help your business keep its doors open for years to come.
Are There Any Small Business Health Insurance Plans in Bixby, OK?
Insure Oklahoma's Employer-Sponsored Insurance Plan is available to businesses in Bixby, OK. Through this program, qualifying small businesses, typically those with fewer than 50 employees, can qualify for affordable group health insurance plans for their crew. Small businesses in Bixby, OK can apply for coverage online or by mail, or with the help of their local independent insurance agent.
Who Are the Best Small Business Insurance Companies in Bixby, OK?
Shopping for the right small business insurance doesn't need to be complicated. To simplify the process, we've provided a few of our top picks for quality coverage in Bixby, OK below.
|Best Small Business Insurance Companies in Bixby, OK||Star Rating|
Why Work with an Independent Insurance Agent in Bixby, OK?
There's no such thing as a one-size-fits-all business insurance policy. With a wide variety of products and options at your disposal, you can put together a solid business insurance package that's custom-built for your company.
Independent insurance agents can help you choose the right policies and options to meet your company’s specific coverage needs. Because they're independent, these agents can work with several of the best business insurance companies in Oklahoma to find you the right coverage at a great price.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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