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Vance Insurance Group, LLC

3705 W Memorial Rd
Suite 1405
Oklahoma City, OK 73134

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Category: Commercial Insurance

How Commercial Auto Insurance Differs from Personal Lines

Posted on April 30, 2025April 18, 2025 by admin

You may not own a fleet of vehicles for your business, but some of your employees use their personal vehicles for business-related travel in or near Oklahoma City, OK. Does their personal policy protect your company if they get into an accident, or do you need a separate policy? Vance Insurance Group LLC can explain how you can better protect yourself with a commercial auto insurance policy.

Commercial Auto Insurance Offers Broader Coverage

Commercial auto policies typically have higher limits in the event of an accident. These policies cover anyone who drives while performing duties for your business, multiple vehicles, trucks, and even employees with poor driving records. You can customize your policy to ensure it covers employees who use personal vehicles for business purposes. In addition, employees’ policies may not cover their vehicles if they use them for business purposes. Even when you have workers’ compensation insurance, a commercial auto policy provides an added layer of protection if employees sustain injuries in a crash and need medical attention.

Exclusions in Commercial Auto Insurance

As with other insurance policies, you can expect exclusions from coverage. If someone causes an accident while using a borrowed, leased, or rented vehicle, any bodily injury or property damage may be excluded. You need additional hired and non-owned liability insurance. Carefully read your policy, as it may also apply when you use personal vehicles. Other exclusions typically involve accidents caused by high-risk activities, such as racing, pollution, and damage from war or nuclear hazards. Consider developing a company vehicle use policy, so employees understand what is and is not allowed.

Learn how commercial auto insurance can adequately protect your business and employees. Contact the experts at Vance Insurance Group LLC, serving Oklahoma City, OK, to get started.

Posted in Commercial InsuranceTagged commercial auto insurance, Oklahoma City OK, Vance Insurance Group LLC

Expanding Your Business? – Commercial Insurance Upgrades You May Need

Posted on March 28, 2025March 19, 2025 by admin

Are you planning to offer new services and products in the future? Maybe you’ll be operating out of a larger facility or hiring more employees. A business expansion project may require additional commercial insurance protection. Review the following categories.

Expanding Services

Offering new services to your customers carries moderate risks. When offering any new service, you must consider the risk of injury or damage.

As a result of these risks, you may need more commercial liability insurance protection. This type of insurance coverage will protect you as a business owner. It will also protect the employees who will be providing the new services.

Inventory Modifications

If your business upgrades include inventory modifications, you may need more insurance protection. Your commercial insurance policy can cover all the new items you will store in your facility.

The commercial coverage you add to your existing policy will protect your inventory from damage and theft. If you add liability protection to your insurance policy, the inventory will be covered if a product causes harm to a consumer.

Operating Your Business from a Larger Facility

Operating your business from a larger facility may drastically change your insurance needs. The new building should be inspected thoroughly.

During your inspection, you should record information about any materials, furnishings, or other business possessions that you would like to add to your commercial insurance policy.

Consulting an Insurance Agent

Contact one of our Vance Insurance Group LLC agents. An agent who is qualified to represent Oklahoma City, OK will advise you. They will base insurance recommendations on your business expansion plans.

Posted in Commercial InsuranceTagged business insurance, Oklahoma City OK, Vance Insurance Group LLC

The Impact of Commercial Insurance on Employment Stability

Posted on March 29, 2024March 19, 2024 by admin

Beyond protecting assets and mitigating financial risks, commercial insurance policies create a stable environment for employees, promoting job growth, retention, and economic resilience. This is critical for employment stability around Oklahoma City, OK. 

Protecting Business Operations

Commercial insurance provides businesses essential coverage, including business interruptions, property damage, and liability claims. By safeguarding assets and revenue streams, these insurance policies ensure the continuity of business operations even in the face of unforeseen challenges or disasters. This stability creates a conducive environment for businesses to thrive, enabling them to maintain and expand their workforce.

Minimizing Financial Risks

Unexpected events such as lawsuits, natural disasters, or accidents result in financial losses for all businesses. These losses can jeopardize the business’s economic viability without adequate insurance coverage, leading to layoffs or downsizing. Commercial insurance serves as a financial safety net, protecting businesses from bearing the full brunt of such losses and enabling them to retain their employees during adversity.

Facilitating Business Expansion

Access to comprehensive commercial insurance coverage can facilitate business expansion and investment. With the assurance of insurance protection, businesses can confidently pursue growth opportunities. This expansion creates new job opportunities and stimulates economic growth, contributing to overall employment stability within the community.

Attracting and Retaining Talent

Commercial insurance benefits packages, including health insurance, disability coverage, and other employee benefits, to attract the top talents. Job seekers often prioritize employers that offer comprehensive insurance coverage and workplace benefits, viewing them as indicators of stability and commitment to employee well-being. By providing attractive insurance packages, businesses can attract skilled workers, reduce turnover, and foster a loyal and productive workforce.

How Vance Insurance Group LLC Can Help You

At Vance Insurance Group LLC, we can help answer questions concerning commercial insurance. We serve the Oklahoma City, OK, area. Call us today. 

Posted in Commercial InsuranceTagged Oklahoma City OK, Vance Insurance Group LLC

How Can I Operate When My Business Has Been Put On Hold Due To Disaster?

Posted on March 27, 2023April 3, 2023 by admin

Oklahoma is susceptible to the tornadoes that hit the mid-west every year. Businesses are shut down until the coast is clear. Downtime is part of commercial insurance, as is handling wages, the lease on the building, the cost of inventory, taxes, and more. 

If you’d like to see your business the way it was pre-storm, then you need to talk to Vance Insurance Group LLC in Oklahoma City, OK. We’re here to help.

Business Interruption Insurance

Let’s say a tree is uprooted, falling on the roof of your Oklahoma City, OK building. It wouldn’t be safe for you or your staff to use the building until it’s repaired. Business interruption insurance kicks in to make the payroll, pay the mortgage on the building, pay the taxes, pay for a temporary space to run your business and make up any financial losses from the closure of your business.

What Does Business Interruption Insurance Not Cover?

Some things aren’t related to closure, such as the utilities. They’d be cut off anyway due to damage to the structure. Other things that wouldn’t be included in business interruption insurance are:

    • Flood or earthquake results. Insurance companies have different policies for these types of disasters. You’d open that policy in conjunction with policies you already hold.

    • Anything broken. If your stock or other things were broken during the disaster that closed your Oklahoma City OK business,  the insurance won’t handle that.

    • Other than reported income. If it’s not on the books, it’s not covered.

Give Us A Call

Returning your business to its pre-storm state is as simple as consulting Vance Insurance Group LLC in Oklahoma City, OK. We’ll make sure the important aspects of your business are covered. Just stop by to see us or call. We’re ready to help.

Posted in Commercial InsuranceTagged Oklahoma City OK, Vance Insurance Group LLC

Commercial Insurance Mistakes To Avoid

Posted on March 31, 2022April 6, 2022 by admin

Vance Insurance Group LLC is an independent insurance agency. We work with multiple carriers throughout Oklahoma City, OK. We are committed to helping our clients find the coverage they need to protect their assets. We treat our customers like family. Developing these personal relationships allows us to provide custom policies.

Commercial Insurance Mistakes To Avoid

Operating a business is complex. You have to deal with a lot of responsibilities on a day-to-day basis. Commercial insurance is designed to alleviate some stress associated with operating a business. The policy covers any damage to your products and equipment. This includes any situations where you are a victim of theft. Commercial insurance also protects your business in liability situations. Perhaps one of your customers slips and falls in the parking lot of your Oklahoma City, OK property. Liability coverage will assist with the injured party’s medical treatment. Liability coverage also protects you if a customer alleges that your products caused them harm. Workers’ compensation protects you if one of your employees is injured in the workplace or there are potential workplace allegations. While looking over your policy, avoid these common commercial insurance mistakes.

Commercial Insurance Automatically Covers Remote Work

This is incorrect. Commercial insurance will not automatically cover any damages or other potential issues if you work from home on occasion. You’ll have to amend your policy to remain covered.

Small Businesses Don’t Need A Lot Of Coverage.

This is a common error that many small businesses make. You may assume that you don’t need a lot of coverage because your business doesn’t have a lot of assets. Imagine how difficult things would be if a natural disaster totaled your business and didn’t have the necessary coverage. You could lose everything. That’s why obtaining commercial insurance is critical to your long-term success.

Vance Insurance Group LLC Will Help You Protect Your Investment

Contact our office to learn more information about commercial insurance.  

Posted in Commercial InsuranceTagged Oklahoma City OK, Vance Insurance Group LLC

Types of Commercial Insurance Coverages

Posted on March 25, 2021March 25, 2021 by admin

As a business owner in Oklahoma City, OK, protecting your company from liability and injury claims should be a top priority. Getting commercial insurance from a reputable company like Vance Insurance Group LLC is one way to do this, ensuring your company and your employees are safeguarded. Below are some types of commercial insurance to consider.

Workers Compensation Coverage

Workers can sometimes get injured during work, requiring medical attention. Workers’ compensation ensures that medical bills are covered along with any legal fees if your business gets sued. Lost wages are also taken care of when employee injuries lead to lost work hours.

Commercial Auto Insurance

Commercial auto insurance is designed to cover businesses whose vehicles are used for work-related engagements. If your employees get into an accident, commercial auto insurance covers the costs of vehicle repairs and replacements.

Property Insurance Coverage

Property insurance provides coverage for business buildings and contents within them. This policy will also take care of expenses arising from such scenarios during a fire outbreak or natural disaster.

Cyber Liability Insurance

Cyber liability insurance protects businesses when data breaches arise. Items covered by this policy include customer notifications, retrieval of client data, and ransom fees. If you also get sued by your customers, this policy will take care of compensation claims and legal fees.

General Liability Coverage

General liability insurance covers the costs of injuries to customers, specifically medical costs and legal fees. If your business also encounters any libel damages, this policy will cater to the liability claims.

Business Owner’s Policy

Business owner’s policy merges general liability insurance and commercial property coverage into one, allowing you to enjoy the benefits of both under one cover. Items covered include damage to business property and injuries that occur at your business.

Professional Liability Insurance

If you operate a service-based business such as a legal firm, a medical practice, or an insurance professional, professional liability insurance is for you. It covers errors and omissions made during consultations and any liability that results from mistakes made.

For a chance to get any commercial insurance coverage in Oklahoma City, OK, contact Vance Insurance Group LLC today for a customized policy.

Posted in Commercial InsuranceTagged Oklahoma City OK, Vance Insurance Group LLC

How to Manage Risks in Your Business

Posted on March 27, 2020March 27, 2020 by admin

Managing risks in a business is an everyday practice. Owners continuously have to juggle multiple tasks if they hope to keep making money by satisfying their many clients, vendors, third-party partners, customers, etc. If you live in Oklahoma City, OK, Vance Insurance Group, LLC wants to provide you with information about how to keep yourself safe. 

Keep On Top of Things 

There’s a lot of reasons to delegate your responsibilities to your employees. Not only is it recommended, but it’s also often the only way that you can manage every duty. But sometimes, when you give too much over to your managers and right-hand men, you end up out of the loop.

So if someone made a mistake along the way and it was never corrected, you’ll only have so much recourse if you discover it too late. And even if your employees can handle the responsibility, they can’t always be there when you need them. This can lead you to make an error down the line if you’re unaware of what’s going on. 

Plan Ahead 

Even when you’ve heard it before, this can’t be stressed enough. Having emergency contingency plans may not be able to solve every crisis, but it can mitigate disasters, so the damage isn’t so bad. If you live in Oklahoma City, OK, you have to keep in mind what you would do if the worst-case scenario occurred. 

Vance Insurance Group, LLC understands what it means to manage risks — we do it every day. If you have questions about what type of coverage will set your business up for success, we’re here to set the record straight. Give us a call today and tell us about the daily threats you face regularly.  

Posted in Commercial InsuranceTagged Oklahoma City OK, Vance Insurance Group LLC

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