With nearly 11,000 businesses, Broken Arrow has a thriving economy that employs over 76,000 people. Some of the largest industries are professional services, builders & contractors, and consultants. If you’re a small business owner in Broken Arrow, make sure you’re protected with a top-quality business insurance policy.
Shopping for commercial business insurance can be complicated, but an independent insurance agent will make it simple. An agent will get to know your business, compare your options, and create a customized policy for your company. Chat with an independent insurance agent in Broken Arrow to get started.
What Can Liability Insurance Do for Your Broken Arrow, OK Business?
Your general liability insurance will reimburse you for court costs and financial damages that occur because of your business. You’ll always want to look at other types of liability insurance, such as:
- Professional liability insurance: This will cover the people who work for you if they are sued for mistakes or errors in judgement. If your business gives advice that doesn’t turn out well, this insurance will protect your employees if they are sued.
- Premises liability insurance: If an accident occurs on your business property, this will protect you from huge financial loss. It will cover unexpected legal and medical costs for which your business may be liable.
- Product liability insurance: If your products cause an injury, illness, or any property damage, this will cover you.
Business Interruption Insurance in Broken Arrow, OK
If you are forced to shut down temporarily due to a covered disruption, your business interruption policy will reimburse you for the lost income. This coverage may be a huge saver for small companies that rely heavily on their owners for daily operations.
Business interruption insurance will cover things such as:
- Lost profits
- Employees' wages
- Loan payments
- Temporary relocation costs
- Rent or mortgage payments
Property Insurance in Broken Arrow, OK
Protecting your physical location and equipment is crucial for any small business. Your Broken Arrow business will be protected with property insurance whether you rent it or own it. From property damage to bodily injury, you’ll be protected from a variety of claims, like:
- Customer Injury: If a customer trips and falls while at your business, you’ll be covered.
- Theft: If someone breaks into your business and steals equipment or other property, you’ll be reimbursed.
- Fire damage: If your business’s furniture is destroyed after by a fire, this will help you pay your costs to replace it.
- Lost income: if you're unable to operate your business because of a covered loss, you’ll be reimbursed.
It’s a good idea to identify risks early, to protect your assets if something happens. An independent insurance agent can help do this step. They’ll find ways to start protecting your business, so you can have a safer work environment for your employees.
How Can You Invest in Your Broken Arrow, OK Employees?
If you have more than 5 employees, you are required to have worker’s compensation for your Broken Arrow employees. This will pay lost wages for workers who are injured or disabled as a result of their job. It’ll also cover medical fees related to injuries that occurred as a result of employment. And, if your employees agree to this compensation, they waive their right to sue you.
- Average per person premium for small groups: $409 per month
- Small group health plan average deductible: $3,140 per year
Offering your workers employee benefits is a great incentive to keep hard workers. Providing your employees with life and health insurance attracts and retains a talented workforce. Here is a list of some perks you may want to consider:
- Dental insurance
- Vision care
- Paid vacation leave
- Sick leave
An independent agent can work through these options with you. They’ll find you affordable options, with the benefits that you and your employees want.
Find the Right Business Insurance for Your Broken Arrow, OK Business
There are numerous options to choose from for coverage of your business. Finding the right commercial insurance policy can be overwhelming, but an independent insurance agent will walk you through your coverage options. They’ll answer your questions and find a policy that is right for your business. Chat with an independent insurance agent today to learn more about your Broken Arrow business insurance.
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