To stay afloat and operational, a business needs to take out business insurance coverage. Business policies may take the form of product liability insurance, workers’ compensation insurance, commercial vehicle liability insurance, and premises liability coverage.
Premises Liability Coverage
Premises liability commercial insurance in Tulsa, OK covers slip-and-fall accidents on your company’s premises. This type of protection is designed to safeguard the business owner in case someone visiting his or her property takes a tumble and gets hurt.
For instance, premises liability commercial insurance coverage protects you financially if someone slips on the floor in your office and becomes injured. The coverage only applies to accidents that occur in your office or on your commercial site.
Premises liability is usually part of the primary coverage for commercial insurance plans. Again, it can be used if someone initiates a lawsuit for injuries or damages sustained on your property. Therefore, the policy does not become activated until a person suffers an injury and files a legal claim.
Other Types of Coverage
Insurance professionals at such companies as AES Insurance Brokers add that premises liability protection does not cover any damages to office contents resulting from water or fire. Coverage for these items is available through business personal property insurance plans. Business interruption insurance is recommended if a company sustains a property loss and must set up a temporary office at another site.
Whether you are a small business or a large company, you should seek coverage in the form of general liability insurance, property protection, business interruption insurance, or a vehicle plan. A business owner’s policy, or BOP, can generally integrate all the aforementioned plans into the policy.
Therefore, work with a specialist in commercial insurance to customize your needs. You also want to check the rates for business insurance protection for worker’s compensation and professional liability. Make sure that you have all your bases covered when you seek this type of financial protection for your business or commercial property.
