Category: Commercial Insurance

Oklahoma has two types of commercial insurance that the state requires for many businesses. These are both important for protecting your business against huge costs and lawsuits. When your business needs commercial insurance, call us now at D & E Insurance Agency in Muskogee, OK.

Workers’ Compensation

Workers’ compensation insurance is a type that pays for the resulting costs that are caused by an accident or occupational illness that an employee gets from work. This insurance allows the policy to pay for the medical bills as well as lost wages and certain other costs that are left behind after an accident or illness. In Oklahoma, you are required to have this coverage if you have any number of employees at all. Even if you employ only one part-time worker, your business must have workers’ compensation for that worker. 

Commercial Auto Insurance

For Oklahoma businesses, if your company owns a vehicle, you must have a commercial auto policy for that vehicle. This insurance has specific minimum amounts of coverage that are set by the state. These include a specific amount for bodily injury liability for a single person who gets injured in an accident. There is another, higher, amount required for everyone who is injured in the accident. There is also a minimum amount for property damage liability coverage. All of these coverage types have relatively low minimum amounts required, and adding higher amounts to these can help you to get a serious accident paid for. If you don’t have enough insurance coverage to pay for the medical bills and/or property damage, it will be up to you to pay for what is left. 

Get Your Business Covered

Your business needs to stay compliant with state laws, and you may need commercial insurance in order to do so. Call us at D & E Insurance Agency in Muskogee, OK.

According to Small Business Administration, over 355,000 small businesses in Oklahoma employ more than half of the state’s workforce. Therefore, as a small business owner in Muskogee, OK, it’s imperative to consider various types of commercial insurance to cushion your business. Incidences such as customer slips and falls, natural calamities, theft, and employee injuries can threaten your financial stability. Thankfully, at D & E Insurance Agency, we provide various commercial insurance options to cater to various business needs.

Is commercial insurance mandatory in Oklahoma?

Oklahoma State requires businesses with employees, whether part-time or full-time, to maintain workers’ compensation insurance. This policy pays for medical expenses for work injuries and illnesses. Additionally, Oklahoma advocates that all business-owned vehicles get covered with commercial auto insurance. 

Besides compliance, here are additional benefits you accrue when you invest in commercial insurance?

Secure your finances.

If a fire or other covered peril forces your business venture to close, business income insurance can compensate your lost income due to these disruptions. Again, business insurance pays for losses incurred when a covered peril destroys assets. Commercial insurance is an absolute necessity because it helps you pay for damages, employees’ injuries, and lawsuits that you would otherwise have to settle out-of-pocket.

Protects your customers.

If you purchase a business owner’s policy (BOP), which combines business property and business liability coverage, it safeguards your business against bodily injury, product liability, and advertising injury from customers and other parties.

Commercial insurance helps with lawsuits. 

Every business venture is vulnerable to lawsuits attracting legal fees. However, you can safeguard your business against lawsuits by purchasing general business liability coverage. This policy assists in payments of costs emanating from lawsuits filed by your employees or clients. 

It covers data breach damage.

Data breaches and cyber-attacks can affect any business with an online presence. Cyber liability insurance helps to cover ransom payments to hackers, negotiation costs, legal costs, and other recovery costs following a malicious online attack.

Buy commercial insurance today!

It’s paramount to determine the amount of commercial insurance you need to procure. For Muskogee, OK business owners, don’t be frustrated in establishing the amount of insurance you require. When you start your insurance journey with D & E Insurance Agency, we will assist you in landing coverage that matches your needs and budget. Contact or visit us today!

Small businesses are the foundation of the American economy. More than 95% of Oklahoma businesses are small businesses and employ more than 50% of the private workforce. This makes keeping your small business operating important to both you and your employees. So many things can go wrong, and nobody knows better than you as a business owner. Commercial insurance can protect you from many of them. Your insurance agent will access your risk and make suggestions for the types of coverage that would offer you the best protection. In Muskogee, OK, D & E Insurance Agency provides personalized service to all our customers. 

Commercial liability

As a business owner, you are all too aware of how vulnerable to being sued you are. If you aren’t, you should be. More than 50% of civil lawsuits target small businesses. You can be prepared for anything that happens by having the right amount of commercial liability coverage. Whether someone is injured while visiting your place of business or by one of your products, you will be covered for legal expenses and any judgment against you. 

Commercial property insurance

Even if you rent the building that houses your business, commercial property insurance offers important coverage. It will help you get back into operation if you are hit by a covered hazard like a fire or storm. It covers your company’s physical assets, machinery, office equipment, records, inventory, and all the property you need to run your business. 

Business Owner’s Policy

A business owner’s policy (BOP) combines commercial liability and commercial property insurance. It usually is less expensive than getting the policies separately. Other coverages to consider are commercial auto, business interruption, and workers’ compensation.

Contact D & E Insurance Agency in Muskogee, OK with any questions you may have about your commercial insurance needs.