If you’re an owner of a business in Oklahoma, you’ll want to ensure it is protected from lawsuits that will not only ruin it but will also cause you adverse financial damage.
Whether your company is based in Tulsa or any other part of the state, obtaining adequate commercial liability coverage is crucial to guard it against certain uncertainties.
Commercial liability insurance, also referred to as general liability insurance or business liability insurance, normally offers coverage for:
Property damage caused by you or your employee to a customer’s property in the course of offering your products or services or conducting your business operations.
Bodily injury caused by you or your employee to a customer either in your business location or at the customer’s workplace or home.
Personal injury caused by your business resulting in damaged reputation or violation of rights. Charges may range from false arrest, slander, and libel to invasion of privacy or property and even copyright infringement.
Advertising injury committed by your company while advertising your products or services.
Optional Liability Covers to Consider for Your Oklahoma Business
If you wish to protect your business and your personal assets even further, you may consider bundling other coverage options to your basic policy.
Employment practices liability insurance (EPLI)
This protects your company from legal claims by employees beyond injuries in the workplace. This covers legal expenses related to claims of sexual harassment, wrongful employment, and discrimination. EPLI may provide coverage for emotional distress, mental anguish, invasion of privacy, libel, slander, and wrongful discipline.
Professional liability insurance (errors and omissions)
If you are in the business of offering professional services (engineer, lawyer, accountant, technology professional, insurance agent), this shields you from errors and omissions lawsuits. This pays for legal fees related to breach of contract, fraud, misrepresentation, and negligence charges.
Directors and officers liability insurance
This covers directors and officers from wrongful act lawsuits made by investors, clients, vendors, employees, or competitors. However, intentional acts, fraud, and dishonesty will not be covered.
Work with Independent Insurance Agents in Oklahoma, Texas, & Missouri
Your Oklahoma business may face claims that vary in nature and degree of severity. That’s why commercial liability insurance policies are not created equal.
We at Hometown Insurance Agency have the experience to craft policies according to your unique business needs. Reach out to us today so we can get a comprehensive overview of your business’s risks and tailor a package just for you.