Finding business insurance can be tough for new business owners. With so many insurance companies in Tulsa, it may seem easier to just choose the one with the lowest premiums. While your budget plays a role in your decision, you should be sure to ask about specific coverages that ensure that you’re well-protected. Here are three coverages that you should be sure to ask about when interviewing insurance companies.
Property insurance covers your business property against damage or total loss. If your property is struck by a storm, fire, theft or vandalism, your policy will pay to repair or replace your covered items. Be sure to ask each company about its coverage limits and when your out-of-pocket payments would kick in.
You will be at risk for third-party lawsuits as a business owner and you want to make sure that you’re protected. Liability insurance from a good insurance company will cover your legal costs including your attorneys’ fees, settlements or judgments. A good company will offer various liability protections depending on your business needs.
Commercial Auto Insurance
If you plan on using a car for business, you will also need commercial auto insurance to cover you in case of an accident. Many companies will offer this as part of an insurance bundle for businesses so that you won’t have to go elsewhere for separate auto coverage.
Other coverages may be required depending on your industry. Be sure to interview multiple insurance companies in Tulsa to ensure that you get the coverage that’s appropriate for you.