3 Reasons to Get Businessowners Policy

Hey guys! I’m Gary Winters, an OKFB Insurance agent in Custer County. Along with being an insurance agent, I serve on several committees for my church in Weatherford, OK. The joy I get teaching and helping others is incredibly rewarding. It’s also how I feel about having the privilege to protect and cover small businesses in Custer County, OK. There are an array of coverage options and features, and having been an agent for more than 30 years now, I have learned a thing or two about how to best help our Oklahoma businesses in their insurance needs.   

That being said, let me break down why and how the Businessowners Policy (BOP) could be a great fit for you.

1. BOP is Customizable

Because Commercial Insurance policies cover small and large businesses, a standard policy may include some features your small business does not need. The BOP on the other hand, includes coverage options that are necessary for an Oklahoman small business owner. Also, the coverage features can be customized into a policy that works best for you and your business. 

2. BOP Works Best for a Range of Small Businesses

From barbershops and convenience stores to restaurants and artisan contractors, there are lots of small businesses that can benefit greatly from a BOP. As an Oklahoman and insurance agent for OKFB for almost four decades, I understand Oklahoma’s business landscape. I can help in deciding what coverage options may be worth obtaining for your business. At OKFB Insurance, we want to provide business owners with the right, tailored insurance coverage.

3. BOP Could Offer a Lower Premium

Because BOP caters to small businesses and offers a customizable policy, the premium could be lower than a typical Commercial Insurance policy. Commercial Insurance policies can cover a lot, and your business may not need every piece of coverage. In selecting the coverage necessary for your business, your premium could decrease. Reach out to your agent to discuss options.

These are just a few reasons why the Businessowners Policy could be better for your business. At the end of the day, Oklahoma is my home, and I know it wouldn’t be what it is without the hardworking small business owners. At OKFB, we work hard to protect these prominent community businesses. Reach out to me or another local agent if you want to talk through anything or need to review your Businessowners or Commercial Insurance policy

Thanks!

-Gary Winters

Make the Most of a Business Slump

With most businesses, there are busy seasons and slow seasons. If your business is seasonal and usually experiences a slower season, don’t let the slump get you down! You can take advantage of the time to prepare and better your business for what is ahead. Check out these ideas for maximizing the slow season: 

Put Time Towards Your Biggest Investment – Your Employees

During a slow down is the perfect time to refresh your employees on training. For example, adding a new requirement that will boost customer experience or even offering more advanced training for veteran employees. Putting time towards your employees can help boost productivity, job satisfaction, and morale. 

Interact with Customers/Use Feedback

With this extra time, you can focus on using that responding to customer feedback to make any necessary improvements. You can also take any positive feedback you received and post it to your social media or website. Lastly, many customers appreciate the personal touch they get from small businesses they work with – now could be a good time to reach out to customers to check in, provide updates, etc.  

Promote Your Business/Sales

This is a good time to assess your marketing strategies from the past year and to see what is working and what isn’t. You can also refresh your website and social media channels. Social media marketing can take a lot of effort, so you could use this time to build up a large bank of content to use for the rest of the year. It may also make sense for you to promote an off-season sale, to help move merchandise during the slump.   

Prepare for the Upcoming Busy Season

Planning ahead now can help ease burdens and stress when things become hectic again in the future. Preparations can look different for each business, but consider checking your inventory and stocking up, planning for future sales and promotions, reviewing your budget and employees’ schedules, etc. This is also a good time to prepare for any hiring you will need to do to be fully staffed during the busy season.

At the end of the day, all of these efforts tie back to protecting your business for the future. OKFB can be your partner in protection, check out our commercial policies and our newest addition of the businessowners policy, specifically crafted for certain types of small businesses.

Commercial Insurance 101

Owning a business takes dedication, vision and preparation. No matter the size of your operation, part of preparing means securing protection. Protection for employees and assets under a Commercial Insurance policy. The right policy could help save you money when accidents cause damage to equipment or property. If you’re new to owning a business, or just need a refresher on the basics, here are some coverage options to keep in mind when considering a commercial policy: 

Commercial Property

The property you choose for your business operations is crucial to its overall success. Along with the coverage chosen to help protect the property and everything inside of it. Things like building structures, inventory, equipment and leased property. These can be covered under commercial property insurance and is a great place to start when obtaining a policy. 

Commercial Auto

From hauling parts to delivering flowers, your company vehicles work as hard as you do. If you have company vehicles, you’ll want to secure commercial auto coverage for them. Features such as auto liability and uninsured motorist will protect the vehicle, as well as provide extra coverage. Extra coverage that will protect you, your passengers or other drivers of the vehicle. 

Commercial Liability

We know small businesses don’t always feel so small. Let us help take one worry off of your mind with a commercial liability policy. Liability claims can be devastating to a small business, so this insurance option can help protect your business from expensive liability lawsuits. Commercial liability coverage ensures that you and your assets are covered in case of an injury or property damage to others that occurs as a result of your operations. 

Commercial Umbrella

Umbrella policies provide overarching protection on top of general liability coverage. A commercial umbrella policy can provide additional coverage to your business that may not come with your general liability policy. For example, if your general liability policy didn’t fully cover the lawsuit costs, your umbrella policy would ensure business coverage.

When it comes to deciding what coverage fits your unique business needs, your agent can help you choose the right policy. Contact an OKFB agent today for more information about how we can help keep your business protected from the unexpected with our Commercial Insurance coverage.