No business or property owner in Oklahoma should be without commercial insurance. There are three broad areas of commercial insurance - workers' compensation, liability, and property insurance. On-the-job injuries to employees are covered under workers' compensation insurance, damages to third parties are covered under liability insurance, and any damages to property at your business are covered under property insurance. Based on your particular business, you might want to add other kinds of business insurance as well. The following list outlines some of the insurances available:
1) Workers' Compensation Insurance - Known colloquially as Workers' Comp, this insurance is required by law for business owners and is essential for a business owner to carry in case of on-the-job injuries of an employee. Workers' Compensation laws ban an employee from acquiring a negligence lawsuit to be brought against their employer for any work-related injuries
2) Property Insurance - This insurance protects your business from fire, storms, burst water pipes, etc. Typically property insurance covers your building, equipment and furniture, your inventory, outdoor signs, landscaping, and fences, and damage to others' property
3) Liability Insurance - This insurance protects you, your employees, and your business from any claims of property damage or bodily injury, up until your policy limit. It also protects you from expenses incurred by litigation, any court-awarded judgment or out-of-court settlements
4) Commercial Automobile Policies - These policies cover all trailers, trucks, vans, and cars that are utilized in your business from theft or damage claims, or if a driver of one of your vehicles injures property or a person
5) Malpractice Insurance - Also known as professional liability insurance, this insurance covers losses stemming from third party injuries when the conduct of a professional is deemed lower than the profession's standard of care. Available for dentists, doctors, architects, accountants, and other professionals
Contact Shore Insurance for quotes, or to speak with one of our professional staff.