Do You Need Commercial Insurance Before Starting a Business?

Are you planning to start your own business? There definitely are many things you’ll have to do to be prepared so you don’t run into any trouble. You should think about commercial insurance and get help from a reputable agency such as Freeland Insurance of Oklahoma City, OK.
General Liability Insurance
This is the basic insurance that most businesses should have. It protects a business from claims arising due to property damage, advertising and personal injury, as well as bodily injury. It can be used for lawsuits, coverage if there’s been damage to others’ property, and if customers become injured.
Workers’ Compensation Insurance

If you have 5 or more employees who are not related by blood, your business will need to carry workers’ compensation insurance. This will cover any injuries that happen on the job and provide the cost of medical care, lost wages, and more. It also can be used in the instance that a worker’s family decides to sue your company and will cover legal costs.
Other categories that fall under crucial business insurance include the following:

  • Commercial auto insurance (if you use a vehicle(s) primarily for business purposes, will have employees driving them, etc.)
  • Commercial property insurance (covers not only your place of business but any property used in business activities such as tools, machinery, furniture, etc.)
  • Commercial flood insurance (this is ideal if you’re located in an area that’s at risk for flooding)
  • Business insurance packages are great if you would benefit from having a bundled group of basic policies

The information out there on commercial insurance be a lot to process. Make it easier by contacting Freeland Insurance, which serves the Oklahoma City, OK area. You’ll be pleased when you see the results.