The Basics of Overweight Bonds

What is an Overweight Bond?

If your business operates heavy vehicles, including trailers, haulers, and/or oversized commercial trucks, you may need an overweight bond.

Overweight bonds are required by many state, county, and municipal governments. These types of bonds allow your overweight motor vehicle to operate on public highways.

The bond works to guarantee payment of any taxes and fees used to fund maintenance and upkeep of public roads along with ensuring the trucker uses designated routes on specific dates and hours within each permit.

The exact amount per overweight bond can vary based on highway/road conditions, gross and axle weights, the time of day allotted to travel, escorting, curfews, and other conditions necessary for safe road travel. The oversize/overweight surety bond can also ensure that the driver operating the heavy machinery will not cause any damage to pavement, structures, bridges, roadway, drainage structures, or other damages and complies with the permit schedule.

Regardless, overweight bonds are meant for trucking firms that use vehicles with excess weight or dimensions because they are more likely to cause damage to roadways.

Overweight Bond requirements for Texas:

In the state of Texas, loads and vehicles exceeding the legal size and/or weight limits must secure an oversize/overweight permit from the Texas DMV to legally travel on Texas roads.

Sometimes, you may need to file a surety bond with the Texas DMV by an amount set by the Texas Department of Transportation and make payable to them for any damages caused on the highway due to your overweight vehicle operation.

The surety bond may be required under Chapter 623, Transportation code.

Overweight Bond requirements for Louisiana:

In the state of Louisiana, some loads and vehicles need to get a license or permit surety bonds to drive on public highways.

If your business has an oversized truck or commercial trucking fleet, you need a surety bond for your oversized load. The overweight bond normally proves the payment of taxes and other fees that are used to keep the maintenance and upkeep of the public highways and roads.

Overweight Bond requirements for Arizona:

In the state of Arizona, the necessity for an overweight bond will depend on the specific size and weight limits of your trucking vehicle. The loads cannot be reducible and it only allocated the permits for a single trip or 30 days.

Known as Class A oversize/overweight permits in Arizona, these permits are only issued for travel on state routes. If a permit is needed for other means, the permit can be obtained through the proper local authority and LKA Insurance Agency can help you find the locality for your route.

Overweight Bond requirements for Utah:

In the state of Utah, if the vehicle or load exceeds the legal dimensions, a permit must be issued and carried in the vehicle for inspection by law enforcement. Permits are issued on a single trip, semi-annual, or annual basis.

At LKA Insurance Agency, we can get you the permits and overweight bonds for your commercial truck and load in Utah. Contact us now for your free estimate.

Overweight Bond requirements for Oklahoma:

In the state of Oklahoma, if your business has an oversized truck or commercial trucking fleet, you need a surety bond for your oversized load. Some loads and vehicles need to get a license or permit surety bonds to drive on public highways.

The overweight bond normally proves the payment of taxes and other fees that are used to keep the maintenance and upkeep of the public highways and roads.

Environmental Bonds

The Basics of Environmental Bonds

What are the basics of environmental bonds?

Understand the importance of environmental bonds.

Environmental bonds involve a contract with hazardous environmental materials used

When it comes to bidding bonds, supply bonds, maintenance bonds, and payment and performance bonds, the term environmental bond is used.

The criteria used for writing environmental bonds includes:

  • Bid amount
  • Personal and corporate credit history
  • Personal and corporate net worth
  • Personal and corporate assets
  • Total work on hand
  • Previous experience
  • Scope of work

Environmental surety bonds have many types, including EPA closure bonds, post-closure bonds, and collection bonds. These bonds cover bases including solid waste landfill, well drilling operations, commercial and residential waste collection, disposal, and transportation means.

Who needs an environmental bond?

The the basics of environmental bonds are important for any business.

Environmental bonds are best used for small to large construction firms that work with dirt projects containing components relating to the environment. They are especially needed if their surety is not interested in providing the said bond.

Other components needing environmental bonds include traditional contractors working in construction landfills, environmental remediation contractors, environmental consultants, manufacturing companies who create by-products that end in residual landfills, coal-burning by-product storage utilities, and principals with environmental guarantees.

What construction activities do environmental bonds cover?

When it comes to environmental surety bonds, they include bid bonds, performance bonds, and payment bonds when working on contaminated property. Similar construction bonds are required for any form of environmental working including landfill construction, wetland mitigation, mining, and any other industries that may impact the environment.

Examples of activities environmental bonds cover include:

  • Asbestos abatement/removal
  • Brownfield remediation
  • Demolition/disposal of contaminated facilities
  • Dewatering system installation
  • Environmental excavation
  • Erosion control
  • Landfill capping, liners, and closures
  • Mining rehabilitation
  • Sediment control
  • Soil stabilization
  • Underground tank removal

Commercial Insurance Company Houston Texas

What are Insurance Bonds?

What are Insurance Bonds?


Surety bonds and bond insurance
The extra protection you need when going into third-party contracts is bond insurance.

Here's how to understand what an insurance bond is:

An insurance bond is a third-party contract where the insurer agrees to pay any losses. The inability to do specific acts or if any criminal acts occur can make it necessary to have an insurance bond. 

These forms of bonds include fidelity and surety bonds.


A few important terms to consider that will better help you understand how an insurance bond works: 


  • Obligator/Bond purchaser: this is you/the person paying for the insurance bond premium. You should perform the said task. 

  • Insurer/Surety: this is your insurance company. Therefore, they pay any losses to third parties if the obligor does not perform said task or pay accordingly.

  • Obligee: this is the third party. They are the ones receiving the benefits of the insurance bond. 

It’s important to note that the party paying the bond premium has an obligation to perform the task.

If you don’t, the insurer (your insurance company) pays any losses to the third party (or the person receiving the benefit of the bond) and this is very important in understanding insurance bonds. 

Therefore, this causes the obligor to reimburse the insurer for the amount lost. In essence, the principal is also the obligation. If there are any losses, the surety pays the losses to the obligee or the third party. 

Insurance bonds are meant to give a financial guarantee that the individual and/or business buying the principal (bond) will, reimburse the third party if the bond defaults, if the obligations set are unfulfilled, or if a claim is made against the obligor by the obligee. 


What is the difference between an insurance policy and an insurance bond?


Confused construction worker about bond insurance.
Know the difference between business insurance and bond insurance.

In technical terms, bonds are not insurance. Bonds are agreements involving three parties, not just you and the insurance company. Unlike traditional insurance policies. 

An insurance policy is an agreement between you, the insured, and the insurance company. Therefore a bond is an agreement between you, the person purchasing the bond, the person who receives the benefit of the bond, and the insurance company. 

When written, insurance bonds are not expected to have any loss.

They are meant to be an extra layer of protection if the obligor does not meet the terms of any employment/contracting agreements. 

To clarify, an insurance bond supports the financial stability of the individual and/or business purchasing the bond. It establishes trust that the obligor will repay the insurer. This will only happen if it becomes a claim from the third party for uncompleted work. 



Learn how different types of bond insurance can protect your construction and contracting business.
For all lines of work, bond insurance can protect you.

What are the different types of Bonds Insurance?

There are many different ones to consider regarding insurance bonds, based on your business and line of work.

The more common insurance bonds include surety bonds, license and permit bonds, contract bonds, and fidelity bonds.

Surety Bonds Insurance 

The type of bond is a third-party bond that protects any losses caused by one party not meeting any obligations within a contract. Therefore, if you fail to pay the other third party or do not complete the work, your insurance company (the surety) would then pay any fees or fines incurred to your customer or the obligee. 

License and Permit Bonds Insurance 

These types of bonds are requirements per governmental agencies and are a form of surety bonds. Therefore, all bonds in this category can be due to federal, state, and local levels of licensing processes for your business. License and permit bonds act as a way of proving your business will act accordingly to any laws and regulations. This protects your business and your customers. 

Get your licenses and permits approved with bond insurance.

Examples of license and permit bonds include:

  • Mortgage broker or lender bonds

  • Professional licensure bonds

  • Notary bonds

  • Private Investigator bonds

  • Auto dealer bonds

  • Auctioneer bonds

  • Collection Agency Bonds

  • Street repair, demolition, or street opening permit bonds 

  • Travel agency bonds


Contract Bonds Insurance

To clarify, contract bonds are also known as performance bonds. They guarantee the completion of any contractual terms you agree on. This form of insurance bond is typically purchased on a project-based account.

Most importantly contract insurance bonds list all important materials needed for the project. On the other hand, they also list an agreed timeline on when the project will be completed.

Contract bonds protect the customer from uncompleted projects in instances where the contractor goes bankrupt.

Examples of contract bonds include:

  • Bid Bonds

  • Performance Bonds

  • Payment Bonds



Fidelity Bonds Insurance

These types of bonds protect policyholders from fraudulent acts. This can include protection from theft, damages, and crime-related acts done by your employees.

Examples of fidelity bonds include: 

  • Employee dishonesty/theft bonds

  • Janitorial service bonds

  • Employee Retirement Income Security Act Bonds (ERISA) 

  • Probate or Executor bonds


Does my business need bonds insurance? 

Ultimately, it all comes down to your business and what you need to fulfill your contractual and regulatory requirements.

In some instances, you may be have to legally be bonded per your state, an industry association, or a contract you already signed. To know if your state requires insurance bonds based on your line of work, learn more with JW Surety's interactive map

Having an insurance bond means more protection if you perform services in someone else’s business or home, you/your employees have access to money, or if you are involved in any construction work.

How do I get bonds insurance?

LKA Insurance Agency works with all businesses, including construction and contracting to provide insurance bonds.
LKA Insurance Agency can help you get the bond insurance you need for your business today.

At LKA Insurance Agency, we will work directly with you to finalize exactly which insurance bonds are best for you and your business.

We walk you through the process of any applications necessary. Including guiding you in obtaining any financial statements, resumes, bank references, and other details needed for the application.

If you need an insurance bond to satisfy any regulatory or contractual obligations, LKA Insurance Agency can help you right away.

Contact us today for your free insurance bond quote. 

What is Employer's Liability Insurance?

What is employer’s liability and its purpose?

What is Employer’s Liability?

Workers’ compensation is essential in all businesses. However, in some instances within a work related injury, illness, or death to an employee it may not cover the costs or damage associated to that employee and the accident that occurred. That is why having employers’ liability insurance is a great policy to carry in addition to workers’ compensation for any business owner.

Employers’ liability insurance protects your business in the event an employee sues your company due to a work injury or illness, and they believe the business is at fault.

How is employers' liability different from workers compensation?

In essence, workers’ compensation covers medical expenses and partial wages lost; however, if the employee has reason to believe more should be given to them because the business was at fault, employers’ liability coverage will protect your business.

It is important to understand that employers’ liability is an additional policy to workers’ compensation. If an employee sues you, employers’ liability can cover expenses related to hiring a lawyer, court fees, and paying any necessary settlements.

What does employers’ liability insurance cover?

In the event an employee sues you over an injury related to a work incident, employers’ liability will help to pay your legal costs.

Although workers’ compensation policies typically allocate for an agreement between the employer and employee that the employee will not sue, that does not mean the employer is completely free of potential lawsuits.

However employers’ liability also covers other incidents that could involve your business being sued. Different types of legal actions employers’ liability covers includes:

  • Third-Party Lawsuits

If your employee was hurt by a piece of equipment on the job, the employee may also try to sue the manufacturing company of the equipment. Hence, the manufacturing company of that equipment piece could turn around and sue your business. Having employers liability protects you from being sued by another entity distantly involved within the workplace accident.

  • Loss of Consortium Lawsuits

In the event your employee was severely injured, now has a disability, or passed away due to a work related incident, a relative may choose to sue you due to lack of income from the employee who was injured and can no longer work. With employers liability insurance your business will be able to compensate.

  • Dual-Capacity Lawsuits

Another aspect you and your business can be sued is if an employee believes both the owner (you) and the business as a whole are responsible for their on-the-job injury. In essence, the employee chose to sue the employer as not only the employer, but also as the manufacturer of the product, service provider, landowner, etc. Having employers liability insurance ensures the safety and protection for both you and your business.

  • Consequential Bodily Injury Lawsuits

Being sued as an owner and business can go beyond the employee suing you. If the employee is being cared for by a relative, such as a spouse or adult child, due to a work-related injury and the caretaking role takes a serious effect on the employee’s caretaker, that caretaker can sue you and your business. If the caretaker becomes physically ill or injured, or develops serious health issues due to the caretaking of the employee, you can be sued. However, employers liability protects you at all costs.

The smart thing to do for your business is to carry an employers liability insurance policy with your workers’ compensation insurance policy.

This will help to better protect you in the event you need to protect yourself as an owner and your business in court. Without employers liability insurance, you are putting your business at serious risk in the event you are sued due to an employee’s injuries relating to work.

Why do I need employers' liability?

No matter how strict and safe your business is, there is always room for error. With error comes the chance of being sued to a point of no return. Having employer’s liability insurance protects you and your business from significant financial loss due to a work-related accident involving an employee.

Despite being amongst a pandemic, in 2020 there were reported 2.7 million non-fatal workplace injuries and illnesses. Although this was .1 million less than 2019, taking into account many individuals working from home, it can be hypothesized that many more injuries would have occurred had there been no such thing as Covid-19.

Regardless of the state of the world, work-related injuries are possible and do happen. The best way to protect your business is with a reliable employer’s liability insurance policy.

How do I get employer’s liability insurance?

At LKA Insurance Agency, we service Arizona, Utah, Oklahoma, Louisiana, and Texas. We are able to help you achieve the best possible employers liability insurance policy in existence for a price you and your business can afford.

Schedule your free consultation and free quote for employer’s liability insurance with LKA Insurance Agency today!

Workers Compensation for Your Business

Workers’ Compensation For Your Business

What is Workers’ Compensation?

What is Workers’ Compensation for your business?

Workers Compensation, also known as workers’ comp or workman’s comp insurance, protects you, your business, and your employees (and in certain cases their dependents) if an employed individual in your company is injured on the job.

This insurance policy includes expenses covered for physical injuries, mental injuries, illnesses, and death that are due to a work-related accident or issue. The coverage works to protect anyone injured by providing wage and medical benefits in the event they are hurt while working.

Workman’s compensation insurance gives medical expenses paid, lost wages, death benefits, and rehabilitation costs paid to employees and their dependents (if death occurred) in the event your employee was injured while on the job.

However, each state mandates the overall workers’ compensation wage and medical benefits; therefore, it is different in every state.

What Are Examples of Workers’ Compensation?

Workers’ compensation insurance begins by being purchased by a business and then is supported by their insurance company and/or supported publicly by state funds. There is a multitude of reasons that workers’ comp may need to be used for your business.

At LKA Insurance Agency, we ensure your business has the Workman’s Compensation Insurance policy fitted best for your business.

Most Workers’ Compensation plans offer coverage of medical fees due to work-related injuries that happened during the employee’s time of employment or had happened while working on the job. Examples of workers’ compensation claims include:

  • A heavy piece of equipment falling on an employees head
  • Sick pay due to medical leave
  • Death due to a work-related injury
  • Excess body strain of an employee due to work
  • Falling
  • Machinery accidents
  • Workplace violence
  • Occupational illness

All of the claims above are only a small fraction of what can be claimed. It is important to remember that these claims can only be made if they are due to a work-related accident or incident.

However, by having a reliable Workers’ Compensation policy you can guarantee your business is covered from any hefty financial fees, including avoiding getting sued by your employee or having any legal fees needed to process in a trial.

What is Covered With Workers’ Compensation?

Medical expenses, lost wages, ongoing care costs or rehabilitation costs, and funeral or benefit costs to dependents can be covered with Workers’ Compensation.

Examples of What Workers’ Compensation Covers

Medical expenses, lost wages, ongoing care costs or rehabilitation costs, and funeral or benefit costs to dependents can be covered with Workers’ Compensation.

Examples of medical expenses covered under a Workers’ Compensation policy include:

  • Surgeries
  • Prescriptions
  • Emergency room visits

Examples of lost wages covered under a Workers’ Compensation policy include:

  • Lost income due to illness
  • Lost income due to recovery from injury
  • Lost income due to ongoing treatment

Examples of rehabilitation/ongoing care costs under a Workers’ Compensation policy include:

  • Rehabilitation costs
  • Long term work-related medical treatment
  • Temporary and permanent disability benefits

Examples of funeral or benefit costs to dependents under a Workers’ Compensation policy include:

  • Funeral costs
  • Benefits to employees dependents and/or family
  • Any medical costs prior to the death due to the work-related incident

It is important to remember that these benefits are not offered to your employee if they get hurt or sick while off the job. Any employee that is intoxicated or under the influence of an illegal substance or a substance that is against your company policy will also not be covered if an injury takes place at the workplace.

Understanding what Workers’ Compensation covers for your business is our responsibility at LKA Insurance Agency. Schedule a with us today for a free quote to learn more about how to further protect your business with a Workers’ Compensation policy.

Who Needs Workers’ Compensation?

Every state varies in its Workers’ Compensation laws. Regardless, every business should have a Workers’ Compensation policy to protect their business from large legal fees in the event of a work-related injury to an employee.

With a Workers’ Compensation policy, you are protecting your employees and your business. It limits you and your business from lawsuits, and by adding an Employer’s Liability insurance policy, you can also protect yourself if the employee believes you were negligent and caused their injury.

A Workers’ Compensation policy also protects you from further claims or litigation related to that specific injury or illness. In essence, if you didn’t have a Workers’ Compensation policy and an employee was hurt on the job and already sued you once, if they find more issues due to the same injury in the future they could simply sue you again and again.

With a Workers’ Compensation policy, it closes the claim once it is resolved initially, and the employee cannot litigate further in the future over the same claim.

How does Workers’ Compensation Work?

This type of policy works to cover any injured or sick employees’ medical, income, rehabilitation, or death expenses due to a work-related injury. Your state guidelines will negotiate how much your employee will receive for their expenses.

Regardless, once the Workers’ Compensation claim is filed within a specified time period, it must be accepted by the employee who is sick or injured. Then they can receive the insurance benefits. It does not matter who is at fault as the policy already protects both the employer and employee.

Why Do I Need Workers’ Compensation in Utah, Oklahoma, Arizona, and Texas?

At LKA Insurance Agency, we service Utah, Oklahoma, Arizona, Louisiana, and Texas. We believe all of our policyholders who own a business should carry a Workers’ Compensation policy.

However, each state varies on its guidelines for Workers’ Compensation.

Our insurance agency works with you to ensure your Workers’ Compensation policy is abiding by the law while fitting the needs of your business. NFIB, the voice for small businesses, gives excellent detail on how each state views the requirements for Workers’ Compensation policies. To consider the facts for the States, we provide coverage policies for Utah, Oklahoma, Arizona, and Texas; please view below.

Workers' Compensation in Utah

All employers are required to carry a Workers’ Compensation policy for their employees:

  • LLC Members, directors, and officers are considered employees; however, they can exclude themselves through insurance
  • Sole proprietors, partners, and LLCs are not required to have Workers’ Compensation coverage
  • General contractors have to make sure their subcontractors carry a policy
  • Excluded businesses include: casual or domestic workers, agricultural workers, and real estate brokers

Workers' Compensation in Oklahoma

All employers with a least one part-time employee at minimum are required to carry workers’ compensation insurance:

  • Sole proprietors, partners, and LLCs are not required to have Workers’ Compensation coverage
  • The “family of five or fewer exemption” allows an employer with five or less employees who are all related by blood or marriage to the employer to be exempt from coverage.
  • Some excluded businesses include: domestic workers, agricultural workers, and real estate brokers.

Workers' Compensation in Arizona

All employers are mandated to carry a Workers’ Compensation policy if the business employs or hires at least one employee regardless of the type of employee they are:

  • Working partners can be exempt from coverage
  • Independent contractors can be exempt from coverage
  • Casual workers or domestic servants working in your home can be exempt from coverage
  • Sole proprietors who do not have any employees can be exempt from coverage

Workers' Compensation in Texas

Any business other than construction companies have the option of obtaining Workers’ Compensation. However, all construction companies are required to carry a Workers’ Compensation policy in the state of Texas:

  • If you do not carry a Workers’ Compensation policy, you are required to inform your employees and can result in being liable in a lawsuit.
  • Employees have a legal right to file compensation claims if they have a genuine case and the employer refuses to pay benefits.

Suppose you own a business in Utah, Oklahoma, Arizona, Louisiana, or Texas and are trying to learn your Workers’ Compensation policy options. In that case, LKA Insurance Agency is here to serve you and get you the policy you and your employees deserve.

Understanding Excess Liability Insurance and Commercial Umbrella Insurance

Commercial Umbrella Insurance vs. Excess Liability Insurance

Understanding Excess Liability Insurance and Commercial Umbrella Insurance is a breeze with LKA Insurance Agency.

Excess Liability and Umbrella Liability are often confused as the same thing despite being two different coverage types.

Excess and umbrella liability insurance does not refer to the same policy. Excess liability insurance provides additional coverage for one of your liability insurance policies, such as general liability insurance. In contrast, commercial umbrella insurance provides additional coverage for several of your liability insurance policies when one of the underlying policies reaches its limit.

In essence, the most significant difference between excess liability and umbrella is that excess liability only covers one of your liability insurance policies solely, whereas umbrella covers the majority of your liability insurance policies. Regardless, both policies provide extra coverage when the underlying policy limits are exhausted.

Who needs commercial umbrella/excess liability insurance?

Any business owner that faces the following will benefit from Commercial Umbrella Insurance and/or Excess Liability Insurance:

  • High liability risks
  • Businesses with a lot of foot traffic
  • Necessity to carry high liability limits with specific clients
  • Need for greater liability protection

Either insurance policy helps protect your current policies in the event of an accident that charges above your original policy.

Do you need extra coverage for your high-risk business? Contact us for your free quote today from LKA Insurance Agency and get the coverage you deserve!

How do commercial umbrella and excess liability coverage work?

There are two aspects these coverages could work:

1. You have an excess liability policy that extends coverage of one liability insurance policy you hold

Let’s assume you have an accident for $2 million in damages with a general liability insurance policy that only covers $1.5 million. By having excess coverage, that insurance coverage would pay the remaining $500,000.

2. You have a commercial umbrella policy that extends to multiple liability insurance policies.

With a commercial umbrella policy, you can use this to protect multiple lines of insurance, including general liability insurance, hired and non-owned auto insurance, and employer’s liability insurance.

What to Remember About Excess Liability Insurance and Commercial Umbrella Insurance

Insurance is designed to protect you from catastrophic fines in the event of an accident. Ultimately, you cannot predict the future. The best way to prepare for the future is to plan for the unknown by getting the coverage you need to protect your employees, company assets, clients, and your business.

Contact us for the best insurance quotes with umbrella insurance and excess insurance today! We work with top-rated U.S. carriers that are designed to find the right policy for you, your small business, and your livelihood. Get the coverage you need today!

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Understanding Umbrella Insurance

What is Umbrella Insurance?

Understanding umbrella insurance is simple.

Umbrella insurance is personal liability insurance that can help you when you are found liable for a claim larger than your insurance policy covers. In essence, it’s insurance coverage for your already set insurance policies, to an extent.

Umbrella insurance is cheaper than other policy plans, and it covers both the policyholder and members of the family or household. It also covers injuries to others or damages to their assets as it is designed to protect the policyholder and/or the family in the event that they are in the wrong.

In some cases, umbrella insurance can cover certain liability claims that other policies may not claim, including libel, slander, false imprisonment, malicious prosecution, wrongful entry, invasion of privacy, and numerous other hazards.

Understanding an Umbrella Policy

To understand an umbrella policy, you have to account for your own life and where it could be more beneficial for you. Say you had a current home or auto insurance policy and ran into an issue where your insurance did not cover the total cost of damages. Having an umbrella insurance policy would protect you in that event regarding financial payment.

Umbrella insurance is excellent in a world where people like to sue one another. If you cause a 12 car collision and can’t pay everyone’s medical bills, your umbrella policy will cover the rest. Or if your child has a bad fight with a bully at school and punches them, resulting in a broken nose, whose parents then decide to sue you, your umbrella policy will cover the medical costs.

Realistically, umbrella insurance can be utilized for every person on the planet, and it is relatively cheap. However, the necessity for each person to have an umbrella policy will vary based on their own life and current insurance situation.

Do I Need Umbrella Insurance?

The need for umbrella insurance varies from person to person. If you engage in high-risk activities that put you at a greater risk of excess liability, you should consider opening an umbrella insurance policy. Risk factors include owning property, renting out said property, employing staff for your home, having a pool, hot tub, or trampoline, hosting large parties, and overall being well known to the public.

Overall, the more likely you are to be sued by another, the more of a reason to consider obtaining an umbrella insurance policy. By having an umbrella policy, you can sleep better at night, knowing you are protected to the fullest of your ability.

How Much Does Umbrella Insurance Cost?

Understanding the price of umbrella insurance is important. Pricing for umbrella insurance varies based on the state you live in, how much coverage you want to purchase, and the risk you hold from the insurance companies point of view. In essence, the more you want protected, the higher it will cost to have umbrella insurance.

However, umbrella insurance is cheaper in comparison to other insurance policies. According to the Insurance Information Institute, policies that are $1 million coverage are typically $12.50-$25 a month, or $150-$300 per year.

The reason umbrella insurance is cheaper than most policies is that it requires you to already be carrying plenty of other insurance policies before an insurance company will allow you an umbrella policy. Most companies will require that you hold the maximum liability coverage on your insurance policies before opening an umbrella policy.

What Does Umbrella Insurance NOT Cover?

Umbrella insurance policies are great because they cover any incident that the policy does not specifically exclude. However, no insurance policy is designed to cover everything. That is why umbrella insurance does not cover the following:

There are multiple ways to keep the cost low of obtaining umbrella insurance. That is why working with LKA Insurance Agency will best benefit you in finding the best umbrella insurance. We work with you and multiple insurance companies to find the best coverage policies for you. Book with us today!

Contact LKA today

Why Small Businesses Need Insurance Most

What’s So Great About Insurance for Small Businesses?

Are you looking for business insurance for your small business but are not sure if it’s worth it? LKA Insurance Agency wants to help you understand the importance of business insurance for your small business.

Although business insurance can tailor to businesses of all sizes, we want to encourage all small businesses to get the proper protection for their business. By utilizing business insurance for your business, you can ensure that your business will not go under in the event of an accident.

Understanding Business Insurance

As a small business owner, it is crucial to carefully evaluate and consider your business insurance needs because your business has more personal financial exposure in the event of an accident or loss.

In essence, it may be more difficult to pay any out-of-pocket costs if an accident does occur, and those out-of-pocket expenses can put your business under completely.

Your Business Risks Determine Your Policy Coverage

As a small business owner, you understand the fundamentals of potential losses within your business. Commercial insurance covers your assets in the event of a loss or accident.

The best way to know which commercial insurance policy is best for your business is to honestly evaluate your business’s risks and understand what coverage saves you the most in the event of an accident.

You may need more coverage depending on your industry, operations, and general location. If you have business vehicles or multiple employees, you may best benefit from workers’ compensation insurance and/or commercial auto insurance policies.

Not sure what business insurance policies are best for your small business? LKA Insurance Agency is here to help you and give you a free quote for your business today!

Evaluating Risks Without Having Business Insurance

Every business has its risks. In essence, an employee could get injured on the job, a natural disaster could dismantle your location, a client could file a lawsuit, or a business vehicle could end up in an accident. All of these aspects can be covered within different business insurance policies for your company.

Knowing the importance of protecting your assets could save you from spending thousands of dollars out of pocket, hence keeping your business from going out of business.

By knowing your company is protected with business insurance, you can have ease of mind in the event of an accident, knowing you are financially covered, minus your set deductible.

Why is Business Insurance so important?

Depending on your business structure, you may be required by your state regulations to acquire workers’ compensation and/or unemployment and disability coverages.

Not sure if your state requires a form of business insurance? LKA Insurance services Oklahoma, Louisiana, Utah, Arizona, and Texas. Book with us today for your free consultation for business insurance!

2. Business insurance also helps to make your business look credible.

It guarantees to your potential clients and prospects that you are a safe business. If any work you do for said client goes wrong, you have a way to compensate their business with insurance coverage.

By having reliable business insurance, you show potential leads and current clients that you are a safe and trusted company within your line of business.

3. Business insurance protects your employees.

Your most important asset as a business owner is your employees. Yes, the equipment, maintenance of equipment, and your brand matter; however, none of it is possible or functionable without your employees. 

Here’s why you need small business insurance: It pays off to protect your employees, and the law requires you carry workers’ compensation; although, you can also carry other forms of business insurance to protect all aspects of your employees and your business for a safer coverage route.

By protecting your employees with small business insurance, you are also protecting yourself from any future lawsuits or liability claims on behalf of your business.

4. Business insurance keeps your business covered in the event of the unknown.

Any act that is done to your business that is not done by a human is known as an “Act of God” in insurance terminology. In essence, any natural disasters including tornadoes, floods, hurricanes, earthquakes, fires, lightning, and more all apply.

All-risk and peril-specific policies cover these potential damages for your business.

5. If you can’t control your business, business insurance has you covered.

As a business owner, if you personally run into a serious medical condition such as a heart attack, stroke, or serious accident that requires you to be “out of the office” for a long period of time, company-owned life and disability life coverage policies ensure your business is covered.

Both insurance coverages under business insurance provide payments to cover any loss of income you generate. In the event of your death or life-long disability, the insurance policies give funds for purchases of your interest under a buy-sell agreement.

There are other policies offered within this form of business insurance. To learn more, speak with us today about your business coverage options and concerns.

6. You have a high advantage offering incentives to your employees

Businesses who do not offer insurance incentives to their employees may not be able to keep employees long-term, or may not be able to retain them within their business.

Any smart business owner would agree that businesses who offer health insurance, life insurance, disability insurance, or any long-term care insurance have a higher advantage and success rate with their employees. When you offer valuable insurance policies to your employees, you’re guaranteed to keep them with your business longer.

Business insurance is cheaper than you might think.

Many small business owners struggle with the idea of getting any form of business insurance. Many believe that their personal insurance coverages will cover the costs of damages on their business; however, that is by no means the case.

Business insurance is less expensive than you would think. On average, over 50% of small business owners pay less than $85 per month and approximately $1,000 per year.

The best bet for small business owners is to pay the minimum premium for their business and avoid the hefty fines in the event of an accident.

For example, The Small Business Majority used an example of a hospitalized patient needing to pay for medical bills with insurance and without insurance. Without insurance, the individual would have paid $10,500; however, with insurance they paid $0.

That example constitutes one person’s medical bills. Consider that number being multiplied by 10+ employees, and that could simply put you and your small business out of business.

You cannot predict the future of your business, but business insurance can protect that future.

Ultimately, there is no telling that your business will or will not have an accident in the future. However, the best thing you can do for your small business is get it the protection it deserves.

With proper insurance coverage with LKA Insurance Agency, you can guarantee your business is covered. Schedule with us today to discuss your small business insurance options!

General Liability Insurance for Beginners

How Does General Liability Insurance Work?

Understand General Liability Insurance, The Coverage, Different Types, And What Is Right For Your Business.

General Liability Insurance for beginners is simple. Every business owner encounters the wonders of the importance of business insurance, let alone general liability insurance. However, we all care for our businesses and want what is best for them. That is why at some point, we stumble across general liability insurance.

The importance of general liability insurance is a considerable component for all businesses. The protection it offers can save you thousands of dollars in the event of an accident and gives you peace of mind knowing your business will never fall under in the event of an accident.

Interested in general liability insurance? LKA Insurance Agency has you covered and is ready to get you started on your general liability insurance policy. Contact us today for a free quote.

What is General Liability Insurance?

General liability insurance, also known as commercial general liability insurance (CGL), is necessary for all businesses. It covers your business in the event that your company causes bodily harm or property damage. Depending on your business, you can get this policy as a standalone policy or combine it with multiple business insurance policies.

At LKA Insurance Agency, we want you to understand the importance of general liability insurance for your business. We want to help you achieve general liability insurance by offering you a free quote and analysis of your business fundamentals.

What Does General Liability Insurance Cover?

General liability insurance covers any claims that can come about during normal business operations. Without the coverage, your business would have to cover all liability costs out of pocket.

Every business is bound to have an unforeseeable accident happen within its lifetime. That is why it is vital to have proper coverage so your business is protected from accidents and so that your business can avoid any hefty payouts.

What are the Different Types of General Liability Insurance?

General liability coverage covers a comprehensive arrangement of policies. However, GLI does not cover every kind of claim. Some aspects general liability covers include:

  • Third-party bodily injury: If an individual is hurt within your business, your insurance policy pays for liability coverage; therefore, helping to pay any medical bills and unexpected fees.
  • Third-party property damage: If your business works outside of a designated business office, property damage liability covers any repair or replacement costs if your business damages another person’s belongings.
  • Reputational harm: If an employee uses any form of slander or libel toward another, your general liability insurance can help cover any legal costs that will defend your business.
  • Advertising injury: If your business is sued for copyrights, general liability coverage has you protected in the event of being sued.

Why Does My Business Need General Liability Insurance?

Any liability claim is not uncommon, and out-of-pocket costs are expensive. A survey by Insureon claims that 1 out of 3 businesses filed an insurance claim last year alone, and the average out-of-pocket pay for liability claims is $35,000. Adding a lawsuit to the mix will just increase the out-of-pocket payout.

Without general liability insurance, your business would be paying for these costs all on your own, leading to a possible closure of your business.

In some cases, other businesses may ask you for a certificate of insurance or proof of insurance to do business with them. This can be a big hassle for companies trying to expand their business without general liability insurance.

How Do I Know Which General Liability Coverage is Right For My Business?

The best way to fully understand which liability coverage, and overall business coverages, are best for your business is to speak with LKA Insurance Agency about general liability insurance for beginners. We service businesses within the state of Texas, Utah, Louisiana, Arizona, and Oklahoma. We are an independent insurance agency that strives to give you the dependable, reliable, and affordable insurance that is best for your company.

We believe that every business should have general liability insurance in the event of an accident and we work with you to fully customize your policy so all aspects of your business are covered.

Get your general liability insurance quote for free today and get the coverage your business deserves.

Business Insurance for Beginners

Understand Business Insurance for Beginners and Get The Coverage You Deserve

Understand business insurance as a beginner and be a pro. It’s essential to understand what business insurance is and how it works. Business insurance covers businesses from unexpected losses due to unforeseeable events during any ordinary business course.

Business coverage varies in the type of commercial insurance you are looking for, including property damage, workers’ compensation, general liability insurance, and more. At LKA Insurance Agency, we encourage our clients to pick the best coverage for their business, and we ensure that your coverage will cover all necessities for your business.

Why do I need Business Insurance?

Understanding business insurance as a beginner is essential for your company. Businesses need insurance for coverage for the unexpected. Typically, business insurance is purchased by the company rather than individuals because businesses seek insurance to cover possible damage to property, lawsuits, or disputes within a contract.

Almost 50% of businesses within the U.S have property insurance, commonly known to be used within “commercial lines.”

How Do I Know Which Insurance Policy is Best for My Business?

Business Insurance for Beginners Tip: Any business owner should carefully consider their business needs, especially in the event of a loss or accident. When you work with LKA Insurance, we assess all your company’s risks and business insurance needs. We work with all forms of businesses to ensure your business is getting the coverage it deserves for a price well-put.

We evaluate commercial lines insurance, which includes property and casualty insurance coverages for businesses. Commercial lines work to keep the economy running promptly by protecting businesses from potential losses the company could not afford to pay on their own while still allowing businesses to operate when otherwise they could not.

What Does Business Insurance Do For My Business?

Ultimately, it all comes down to your business fundamentals. It’s vital that your insurance agent fully evaluates your business and its potential losses to determine how your coverage will best benefit your business.

Options for business insurance policies include professional liability insurance, general liability insurance, property insurance, home-based business insurance, product liability insurance, vehicle insurance, and business interruption insurance.

Where Can I Find a Reputable, Reliable, and Affordable Independent Insurance Agent in Houston, Texas?

Are you looking for a new insurance agent for all of your insurance needs? LKA Insurance Agency has you covered.

LKA Insurance Agency services all forms of business insurance throughout the state of Texas, Oklahoma, Louisiana, Arizona, and Utah and was voted the #1 Insurance agency in the state of Texas in 2020 by The Blue Book Building and Construction Network.

Book with us today for your free consultation and get the coverage your business deserves for peace of mind.