Oklahoma City Business Insurance

Your Complete Guide to Oklahoma City, OK Business Insurance

(Find the best business insurance policy for you)

Oklahoma City Oklahoma business insurance

Oklahoma City is home to more than 303,000 small businesses, employing over 75,000 people. This metropolitan city is booming with health care, manufacturing and industry, creating a thriving economy. If you’ve decided to set up shop here, protect your business with a high-quality comprehensive business insurance policy.

An independent insurance agent will find you an affordable comprehensive insurance policy. They’ll get to know your business and will comparison shop for you. If you ready to protect your business, get matched with an agent today.

Do you need workers’ compensation in Oklahoma City, OK?

If your Oklahoma City business has a full-time employee, or even a part-time employee, your required to carry workers compensation insurance. This will provide compensation to one of your employees who suffer a work-related injury. It will also cover things like:

  • Medical expenses: the coverage will prove help for employees to pay for medical expenses
  • Missed wages: Workers’ comp helps replace some of your employee’s lost income if they need time off to recover.
  • Ongoing care: If the injury requires continued treatment for full recovery

Workers’ comp will reduce your liability for work-related injuries and illnesses. Without coverage, your employees can sue you for a work-related injury or illness to pay for the medical costs.

What will liability insurance do for your Oklahoma City, OK Business?

Your business general liability insurance will protect your business from claims that occur because of a result of normal business operations. It will provide coverage to your small business for things like a third-party bodily injury, medical payments, and advertising injuries.

Other types of liability insurance that may be right for your business are:

  • Professional liability insurance: This will cover the people who work for you if they are sued for mistakes, or errors in judgements. If your business gives advice that doesn’t turn out well, this insurance will protect your employee from being 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 which your business may be liable.
  • Product liability insurance: If your products cause an injury, illness, or any property damage, this will cover you.

Do you need Commercial property insurance in Oklahoma City, OK?

It’s a good idea to make sure that you have a commercial property insurance to protect your business against risks. It will cover losses caused by fire, lightening, wind and hail, or acts of vandalism. Examples of when this coverage comes in handy include:

  • A water pipe bursts and damages valuable documents
  • If a fire destroys your building and all the contents inside
  • A severe storm damages your outdoor sign

Whether you own your building, rent an office, or even work at home, your commercial property insurance protects your business’ physical assets. Chat with an independent agent to find out exactly what it will cover in your business.

What will business interruption insurance do for your Oklahoma City, OK business?

Your business interruption insurance will replace your business income if you can no longer operate due to a covered disaster. Every business has its own risks, so important to be protected in case you have to shut down. It will cover things, such as:

  • Profits: the policy will reimburse you for profits that you would have earned, according to your previous months’ performance.
  • Fixed costs: Things like operating expenses and other incurred costs of doing business elsewhere.
  • Temporary location: This will cover the costs related to moving and operating from a temporary business location.
  • Employee wages: To make sure that you won’t lose your employees, this policy will cover the wages of your workers.

Flood insurance

Your comprehensive business insurance policy will not cover damage caused by flooding. When severe storms move over Oklahoma City, heavy rains tend to cause sporadic flooding in the city. Protect your business from water damage with a flood insurance policy.

Employee Benefits for your Oklahoma City, OK Small Business

  • Average annual health premiums for family employee coverage in 2019: $20,576
  • Average annual health premiums for single employee coverage in 2019: $7,188

Offering your employees benefits it’s a great way to attract and retain a talented workforce. Employees are always looking for a company that values them and assisting them with health insurance and life insurance may be a huge draw.

Other things that you may want to consider for your employees are:

  • Dental insurance
  • Paid vacation leave
  • Sick leave
  • Vision care

A creative benefits plan could be a selling point for a future candidate. Chat with an independent insurance agent to discuss an employee benefits package.

Chat with an Oklahoma City, OK Independent Insurance agent

Running a business is risky enough without having to worry about the insurance. An independent insurance agent will get to know your business and make this process simple. They’ll help you find an affordable price with the coverage you want. Chat with an agent to get started.

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