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1903 N Main St,
Muskogee, OK 74401

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Is Commercial Insurance a Necessity?

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!

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