Owning a business is rewarding and exciting, but if you don’t have the proper protections in place, it can also be a major financial burden. Luckily, there are various types of insurance available to help reduce the liability your company has to assume. If you think your company isn’t large enough to require insurance policies, think again. The following are the three most popular types of Business Insurance in Oklahoma City OK, entrepreneurs use to keep themselves safe. Make sure you consider purchasing them for your company so you can have peace of mind and focus your attention on what matters most.
Workers Compensation Insurance
If one of your employees is injured while on the job, you will be responsible for paying any medical bills that follow. This can be detrimental to your organization, as even one injury can cost thousands of dollars. A workers compensation policy keeps you protected by paying for any expenses one of your staff may incur during the course of their medical treatment. This affordable insurance coverage can save you thousands of dollars and keep your company financially stable during a tragedy.
If you fire an employee, they may be eligible for unemployment benefits. You are responsible for paying for their benefits until they find work. Some benefits can be extended for a period of two years, which can be a substantial drain to your budget numbers. Unemployment insurance pays this for you, so you don’t have to assume the liability of unemployment claims on your own.
General Liability Insurance
One of the most important types of Business Insurance in Oklahoma City OK, is a general liability policy. If one of your customers is injured while on your property or your company causes damage of any kind, it will cover the cost of fixing the issue. The world of business is unpredictable, but you don’t have to stress it when you have a quality general liability policy protecting your company from financial harm.
Don’t go another day without adequate business insurance. The agents at CPC Insurance Agency offer a wide array of business insurance products designed to give you peace of mind and keep your company safe. Call their office or click for additional info and to get your free quote. You have nothing to lose, and only peace of mind to gain, by purchasing the insurance policies you need today.
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