Business Insurance Information
No matter the size or scope of your business, a business is an investment. You've invested time, effort, money and resources to bring your idea to life, and it's important to protect those efforts. Without insurance, a single disaster could sweep in and send your business operations plummeting.
ECI Insurance Agency, Inc. provides comprehensive business insurance for businessowners in nearly every industry. Protect your business today before disaster strikes.
General Liability Insurance
General liability insurance is crucial for any operating business. This insurance covers incidents in which a third party suffers bodily injury, property damage and advertising injury. Advertising injury may include lawsuits concerning libel, slander, copyright infringement, wrongful eviction and more.
We also offer liability coverages such as:
- Professional Liability Insurance: This insurance covers lawsuits concerning acts of professional negligence. This coverage is also known as errors and omissions insurance (E&O Insurance) and medical malpractice insurance. Acts of negligence refer to mistakes made by a specialist or professional that causes loss or damage to a client. For example, an accountant may make a technical mistake that loses their client hundreds or thousands of dollars. This coverage will provide compensation for that loss and protect against a possible lawsuit.
- Employment Practices Liability Insurance (EPLI): Employment practices liability covers lawsuits concerning certain employment practices. Incidents may include sexual harassment, discrimination, wrongful termination and more.
Commercial Auto Insurance
In most states, commercial auto insurance is required for any business that owns or uses vehicles for work purposes. Commercial auto insurance offers a lot of the same coverages as personal auto insurance, such as comprehensive, collision, uninsured motorist and medical payments coverage. In Oklahoma, businesses with commercial vehicles must carry:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $25,000 in property damage liability
Workers Compensation Insurance
Depending on where your business is located and how many employees you have, you may be required to carry workers compensation. In Oklahoma, businesses with even one part-time employee must carry workers compensation. This insurance compensates the employee for injuries obtained on the job and helps prevent lawsuits against the company concerning such injuries.
Employees are one of the most important assets of any business, which is why it's important to carry insurance to protect them. We know how much employees can affect your business, so we also provide group health insurance policies that you can offer to your employees. Group health insurance provides important health coverages for employees and their families at cheaper rates than most individual health insurance policies.
Commercial Property Insurance
Commercial property insurance is crucial for businesses with a physical address. This insurance covers the physical building and its contents in cases of fire, smoke, wind, hail, theft, vandalism and more. It also typically comes with business interruption insurance, which can cover the income lost while the business is inoperable due to a disaster. Property insurance can be combined with general liability and other coverages into a business owners policy. A business owners policy (BOP) combines coverages for small businesses to save money on important coverages.
Protecting Your Business
Don't wait to protect your business. The agents at ECI Insurance Agency, Inc. understand the dangers businessowners face and work with a variety of top carriers to find you a policy that suits your needs and budget. Call us at (405) 373-2977 or fill out an online form for a free quote today.
Common Business Insurance Questions
When you choose a business insurance policy, you pay monthly premiums in return for coverage. When it comes to filing a claim, a claims adjuster will investigate the claim to calculate how much compensation your business requires.
The type and limits of business insurance that you need depend on your location and industry. However, common options include the following:
Speak to an agent at ECI Agency, Inc. about insuring your business.
Business insurance is crucial to protect your assets. One lawsuit or disaster could drain your company's wallets and send you out of business. Business insurance allows an extra cushion so you don’t have to stress about going out of business because of one claim.
Thank you for your interest in ECI Insurance Agency, Inc. We proudly serve Oklahoma City, Piedmont, Yukon, Edmond and throughout Oklahoma. Call or text us at (405) 373-2977 or email us your questions and an agent will get back to you as soon as possible.