Business Insurance

When you own or run a business, you have a lot to at-risk and much to protect, and having the right business insurance coverage can be crucial to your long-term success. When it comes to protecting your business, fortunately, there are a variety of coverages to choose from. We represent a variety of carriers and are dedicated to assisting you in protecting your company from damage and liability. When you work with the team at the Oakwood Insurance Agency, you will receive personalized advice from an experienced agent who will assist you in developing a plan that includes all of the coverage you may require.

Commercial Property

No two businesses are alike; that is why you need an insurance program designed specifically to meet the needs of your business. When it comes to managing your property risk, there is nothing better than having an agent with an understanding of your risks, the market, and the qualifications to design a program to meet your needs. Our main focus is always to design a property insurance program that addresses your current and future risks. Oakwood Insurance can design a property program specifically for your business. Business interruption, loss of use, damage to a building and special, equipment, loss of income, production delays, and building code issues

Commercial Liability

You serve people first and foremost. Just because you are a business does not mean you are exempt from litigation.  Commercial liability insurance from Oakwood Insurance Agency offers protection to your business and employees. Coverage can include claims from property damage and bodily injury to a third party caused by your business operations or from your premises. General liability coverage also provides coverage for the legal defense if you get sued. General liability Insurance should be the foundation of your insurance program.

Commercial Auto

Auto Insurance from Oakwood Insurance Agency can provide your business with security and protection from liability claims arising from an accident involving your company vehicle. Commercial auto insurance is normally offered on vehicles owned by a commercial business and can include; Bodily Injury Liability, Property Damage Liability, Personal Injury Protection, Uninsured Motorist, Under-Insured Motorist, and Hired Auto Liability Coverage.

Directors and Officers Liability

Directors and officers (D&O) insurance protect the people who serve as a company’s directors and officers from lawsuits brought by employees, customers, vendors, or others. It can cover defense costs, a settlement, and other lawsuit-related expenses.

D&O insurance policies generally protect directors, officers, employees, volunteers, committee members, trustees, and the organization itself.

Common claims can be; breach of fiduciary duty, family members (form privately owned businesses), misrepresentation of products or services, errors in management decisions, and more.

Professional Liability 

Most businesses purchase general liability insurance to protect their businesses against certain kinds of claims. These claims could include bodily injury and property damage. It is very important for businesses to understand the difference between professional liability and general liability.

Professional liability insurance, also called “Errors & Omissions” insurance, protects against a claim from a third party who suffers a financial loss as a result of your services or actions.

If someone feels they have suffered a loss or damages due to a professional service, often their next action is a lawsuit. These kinds of actions can be costly and severely reduce a firm’s resources. Professional liability insurance can help preserve assets and, more importantly, help preserve the firm’s reputation. Often professional liability and D&O can be combined into a Management Liability policy.

If you perform any of these services, you may need professional liability insurance:

• Provide any construction management
• Provide advice to clients
• Perform professional services
• Advise client on how to save money
• Provide advice on how to install equipment
• Recommend any building code changes

Employment Liability

An employment practices liability Insurance (EPLI) policy provides insurance against claims and lawsuits brought against an employer, its officers, directors, employees, and managers. These policies generally cover allegations in the following areas:

• Discrimination – including age, sex, and gender
• Sexual harassment
• Invasion of privacy
• Emotional distress or mental anguish
• Wrongful termination or discipline
• Negligent compensation, promotion, or hiring decisions
• Employee benefits mismanagement
• Breach of contract for employment

An EPLI policy will defend the organization and pay the damages awarded under the terms, conditions, and limits of the policy. A very important benefit of most EPLI policies is, they offer free legal assistance programs. You have the opportunity to contact an experienced legal firm to help assist you through an employee issue before it turns into a claim.

Cyber Liability

Technology has enabled the common criminal to get into the world of cybercrime. Small and large businesses are prime targets for cybercriminals. Criminals actually purchase programs that can be set up to hack dozens of businesses at the same time. It is important that your business have the right business insurance, including cyber liability insurance.

Oakwood Insurance Agency specializes in cyber liability insurance (also known as Data Breach Coverage). The experts at Oakwood Insurance Agency are ready to extend their services to help you analyze and secure the best possible coverage to fit your firm and protect your company.

Industries We Specialized In

• Construction
• Retail
• Manufacturing
• Hospitality
• Distribution
• Non-Profit
• Real Estate
• Technology
• Transportation

Our commercial team comprises dedicated experts who collaborate with you to analyze risk, review loss history, recommend loss mitigation strategies, and negotiate premiums on your behalf with our vast network of underwriters with whom we have established strong relationships.