Business & Commercial Insurance
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Business & Commercial Insurance Information
Tulsa consistently ranks as one of the best places in Oklahoma to start a business. As you plan to open up your adventure in entrepreneurship, you’ll need insurance to protect the operation. It can help you when you face unexpected challenges that could call your reputation and success into question.
Dorsey Insurance offers numerous business insurance options for business owners in greater Tulsa. We’ll help you get coverage that comprehensively protects you against both industry-wide and individual operating risks.
What is business insurance?
Business insurance applies to the personal and financial risks associated with commercial enterprises. If problems occur in your business, coverage can pay for some or all of the recovery costs. The more you have, the more help you can get when trying to pick up the pieces following unexpected accidents.
Why do I need coverage?
Business insurance seeks to help you minimize, or even eliminate, the costs of accidents at work. No one wants anything bad to happen to their business, clients or employees. Still, nothing is foolproof.
- Storms, fires or other hazards might damage the business, forcing you to make repairs.
- Theft or vandalism might cause you to lose products and other property.
- You might make mistakes that harm others. They might sue you for their recovery costs.
- If an accident occurs, it might force the business to close, causing it to lose income.
- Employees might get hurt on the job, and therefore have a right to financial assistance.
By having insurance on the business, you won’t worry if you have the money to recover from these losses. You’ll have the resources available to move on from the incident.
Most business owners will need several types of commercial coverage to achieve enough protection.
Physical damage to your building or the contents inside will need repairs, and this coverage can help you pay for the services. The options within this coverage can include:
- Structure coverage
- Signage coverage
- Contents insurance
- Equipment breakdown/boiler & machinery insurance
Ask if your policy can include replacement cost value (RCV) coverage for qualifying items. With RCV coverage, you can get enough money to replace a damaged item with one of equal or lesser value.
If you cause harm to third parties, like your clients or guests, this coverage can help you pay the restitution involved in these cases. You might need:
- General liability coverage (bodily injury, property damage)
- Errors & omissions coverage (E&O protection)
- Directors & officers (D&O) coverage
- Employment practices liability coverage (EPLI)
- Cyber liability insurance
- Product liability coverage
- Products-completed liability insurance
- Accidental medical payments coverage
Policies can help you cover your legal expenses in case lawsuits arise from liability incidents.
Commercial Auto Coverage
If you operate a business vehicle, or if employees drive personal cars on business you’ll need this coverage. Commercial auto policies can help you pay for losses related to vehicle accidents or other mishaps. Policies can offer:
- Auto liability insurance (25/50/25 coverage required by Oklahoma law)
- Non-owned vehicle liability coverage
- Collision coverage
- Comprehensive damage protection
- Uninsured/underinsured protection
- Medical payments coverage
- Inland marine coverage/cargo protection
Please note, most standard car insurance policies will not cover commercially-owned vehicles.
With a workers’ comp policy, you can cover the medical costs, lost income and related bills of employees who get hurt or sick on the job. This coverage is instrumental in helping injured employees get back on their feet after on-the-job injuries. Oklahoma requires most businesses to have coverage.
Business Interruption Protection
A damaging accident in your business might force a temporary closure. That causes a risk of other Business interruption insurance can cover standard costs in the meantime, such as employee salaries, lost income and the costs of temporarily relocating.
In cases of crimes, like theft by employees or patrons, the business could lose money. This coverage can help you cover the costs related to your losses.
Helping You Choose the Right Coverage
All businesses need different types of commercial insurance. At Dorsey Insurance, we can help you get the right combination of policies to assist you in multiple ways. Your security is our priority, and we’ll work hand-in-hand with you to make sure you obtain the right policy.
Get a Quote
Dorsey Insurance has decades of experience in the commercial insurance industry. So, don’t hesitate to get covered right now! Contact us at (918) 665-7400 or fill out our online quote forms.