Tulsa Business Insurance

Your Complete Guide to Tulsa, OK Business Insurance

(Find the best business insurance policy for you)

Tulsa Oklahoma business insurance

Tulsa, OK has the 7th strongest metro economy in the nation. That explains why you and over 63,000 businesses have decided to operate in this metropolitan area. Owning a business is inherently risky, so purchasing a business insurance policy will help protect your investment and give you a sense of relief.

An independent insurance agent is one step that will make owning your businesses easier. They’ll get to know your business, and find a comprehensive affordable policy for you. They’re knowledgeable about small businesses in Tulsa and will compare premiums from numerous carriers until you have the right policy.

What can liability insurance do for your Tulsa, OK Business?

Your policy will protect you and your business from claims that occur due to daily operation at your company. Your general liability insurance will reimburse you things like court costs, and financial damages that occur because of third-party injuries. 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 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.

Business Interruption Insurance in Tulsa, 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 is a may be a huge saver for small companies that rely heavily on the owner for daily operations.

Business interruption insurance will cover things, such as:

  • Loss profits
  • Employee’s wages
  • Loan payments
  • Temporary relocation costs
  • Rent or mortgage payments
  • Taxes

Property Insurance in Tulsa, OK

Protecting your physical location and equipment is crucial for any small business. Your Tulsa 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’ furniture gets destroyed after a fire, this will help you pay your costs to replace it.
  • Lost income: if your unable to run your business because of a covered loss, you’ll be reimbursed.

It’s a good idea to identify hazards early on, to make sure your assets are protected if something was to happen. An independent insurance agent can make this step easy by doing it for you. They’ll find way to start protecting your business, so you can have a safer work environment for your employees.

Catastrophic Events in Oklahoma

  • Number of federally declared disasters in Oklahoma: 173
  • Most common reason for disasters in OK: Tornadoes
  • Average number of tornadoes per year: 60
  • Average number of claims each year: 1 in 20

Your property insurance policy will cover you against a natural disaster like tornado. However, if flooding occurs because of a covered event, the water damaged caused will not be covered. Purchasing a flood insurance policy may be a smart investment. This will help with the clean-up like debris removal, or building replacements. Talk with an independent agent to find out more.

How can you invest in your Tulsa, OK Employees?

Workers’ compensation

Your Tulsa business is required to have a workers compensation policy for your employees even if you only have one part-time worker. This will pay for employees who are injured or disabled as a result of their job. It’ll also cover a compensation plan to pay 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.

Should you invest in Employee Benefits?

  • Average per person premium for small group: $409 per month
  • Small group health plans 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 and puts an edge over your competition. 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 Tulsa, OK Business

There are numerous options of coverage that you can choose for your industry. 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 agent today to learn more about your Tulsa business insurance.

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