As a business owner, you are required to carry certain types of insurance to protect yourself, your employees, or the public in case of accidents. These insurance policies protect your company in case it is sued for damages caused in an accident. Here are some of the insurance options for businesses in Oklahoma.
Insurance for Employees
Employers in Oklahoma and other states are required to protect their employees by purchasing certain types of government insurance policies. This includes Workers’ Compensation insurance to cover expenses due to injuries at the workplace, unemployment insurance in case of layoffs, and health insurance. You don’t have to purchase health insurance from a government provider. You can purchase it from an independent agent selling commercial insurance in Oklahoma City, OK.
Liability Policies
Businesses need to purchase different types of liability policies to protect employees and visitors to your business and to reimburse people for property damage caused by an employee. Commercial insurance carriers offer general liability and special liability policies to protect your company from lawsuits due to slip and fall accidents, negligence leading to workplace accidents, property damage when employees are working at a client’s business or home, and other forms of liabilities.
Employment Practices Liability Insurance
This is a type of general liability insurance, but this commercial insurance doesn’t protect your company when employees or visitors are injured on your property. Instead, it protects your company when people make claims against your business for violations of their rights. This may include protection from workplace discrimination suits or sexual harassment complaints.
Umbrella Insurance
Umbrella insurance provides additional protection for your company if it is sued and the plaintiff wins their case. It will protect your assets by increasing the liability limits of your other commercial insurance policies. When assessing your needs, your insurance agent may suggest umbrella insurance for additional protection.
