Oklahoma Business Insurance
Customized protection for your Oklahoma business
As a small business owner in Oklahoma, you should consider several types of business insurance to protect from a variety of work-related incidents. Customer slips and falls, natural disasters and employee injury are a few of the many incidents that can threaten the financial health of your business.
There are over 355,000 small businesses in Oklahoma that collectively employ more than half of the state’s workforce, according to the Small Business Administration. Most employees are required by state law to be covered under a workers’ compensation policy.
Shop for workers’ compensation, general liability and more through the Progressive Advantage® Business Program. Our licensed specialists can help you get a quote that meets your needs.
Types of OK business insurance
This is the most common business insurance coverage and nearly all businesses in Oklahoma should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.
This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. You’ll need this coverage if you use your vehicle to transport supplies or travel between job sites.
Businesses in Oklahoma are typically required to have workers' comp insurance if they have employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.
Business Owners Policy (BOP)
A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property such as a storefront, warehouse or office building.
Oklahoma businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).
This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.
How much does business insurance cost in Oklahoma?
The cost of an Oklahoma business insurance policy depends mostly on your profession. Businesses are typically rated on the risks and exposures that are common to their industry. High-risk professions like general contractors and manufacturers typically pay more for coverage.
Other factors that affect your rate include your business’s location, size and coverage needs. For example, a business located in a populated area like Oklahoma City can expect a different rate than a business located in a rural area like Stillwater.
Oklahoma business insurance requirements
Workers’ compensation is the only type of business insurance required by Oklahoma state law. Most businesses with one or more employees are required to carry workers’ comp and can get coverage through a private insurance carrier.
Some businesses might not require coverage including independent contractors, certain agricultural and horticultural businesses, and family businesses that employ five or fewer people, all of whom are family members. Learn more about workers’ compensation in Oklahoma.
While Oklahoma doesn’t legally require you to carry other types of coverage, like general liability or a BOP, many prospective clients and landlords do. Their requirements typically appear in contracts that specify the coverage types and amounts you must carry before beginning work or leasing commercial property.
Resources for Oklahoma small business owners:
Oklahoma professions we insure
We help small business owners from a wide variety of industries, including these common professions:
Browse more examples of professions we insure.
Why choose Progressive?
Options – We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts – As the #1 Commercial Auto Insurer in America*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience – There are several ways to get a quote whether you need a single Oklahoma policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.
Business insurance for all Oklahoma cities
We can customize business insurance in all Oklahoma cities, including, but not limited to:
- Oklahoma City
- Broken Arrow
- Midwest City
*No. 1 commercial auto insurer from SNL Financial’s 2019 national written premium data.