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 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.