Types of commercial insurance most businesses need

Owning a business, no matter what the size, comes with risks. What risks threaten depends on the type of business. Having an insurance agent that knows your business, and you personally help to make sure that you get the right coverage. Your business will suffer if you end up with a claim that isn’t covered. At Hexis Insurance in Oklahoma City, OK, we work with our customers to make sure their coverage matches their needs. 

Commercial Liability Insurance

Commercial liability insurance is insurance to protect your business assets from the results of a judgment against you. As many as 30% of businesses will be sued in any given year, making having the right liability coverage vital. You can have a dissatisfied customer, a customer or vendor who is injured visiting your business, and even an employee who is not happy. All of these can kill your business if you are not correctly protected. 

Commercial Property Insurance

Every business has things that it needs to carry out what they do. If it’s a store, you have display cases, if you are a plumber, you have tools. All of these things need to be protected and, if damaged or destroyed by a covered peril, replaced. You can’t make any money if you don’t have what you need to get income. If you own a building, commercial property insurance will also cover that, but even renters benefit from this type of commercial insurance. 

Worker Compensation Insurance

In Oklahoma, all employees, full or part-time must be protected with workers’ compensation insurance. It offers them medical coverage for injuries that happen while they are working. It also pays for time lost from work, with additional benefits for permanent injury or death. 

For personalized commercial insurance services, contact Hexis Insurance in Oklahoma City, OK on the phone or at our office.