Business Insurance
Whether you’re running a small Oklahoma startup or managing an established company, understanding your business insurance options is crucial for protecting your assets and ensuring financial stability.
Key Types of Business Insurance
Your agent may recommend the following business insurance policies:
- General liability insurance may help protect against costs associated with third-party injury and property damage claims arising from your business operations.
- Property insurance may help provide coverage for your company’s physical assets, such as equipment, buildings and inventory.
- Professional liability insurance may help cover claims of negligence or mistakes in professional services.
- Business interruption insurance may help cover operating expenses if your company is temporarily unable to conduct business due to a covered event, such as a natural disaster.
- Commercial auto insurance may help pay for third-party bodily injury and property damage claims for which you are liable. It may also help pay to repair or replace company property, depending on your chosen coverage.
- Workers’ compensation insurance may help cover job-related illnesses or injuries for your employees, including lost wages, rehabilitation and medical expenses.
The Cost of Business Insurance
Insurers typically use information about your company’s claims history, location and risk management practices to help determine your business insurance premiums. The types of insurance you need and the extent of coverage play a significant role in determining costs. More comprehensive coverage or additional policies generally result in higher premiums.
The size of your business, including the number of employees and revenue, impacts your insurance rates. Additionally, certain industries face higher risks and may incur higher premiums due to their nature.
Contact The Kimberlee Agency in Roland, Oklahoma, for business insurance tailored to meet your company’s unique needs.