Choose The Hartford for All Your Oklahoma Small Business Insurance Needs
In a state with a robust transportation infrastructure and living costs around 40% lower than the national average, it’s not surprising to see companies choosing Oklahoma for their headquarters.1
The Sooner State is home to 362,364 small businesses, making up 99.4% of companies in Oklahoma.2
While Oklahoma boasts its business-friendly environment as a factor to company success, it’s essential to have business insurance to make sure you stay successful. Oklahoma businesses throughout the state can benefit from seguro de negocio
coverage. No matter where you’re located, we can get you the protection you need, whether you’re in a small town or big city, like:
- Oklahoma City
Find out more about the different types of business insurance and how they can help keep your Oklahoma company protected.
Types of Oklahoma Business Insurance Offered
Oklahoma Business Owner’s Policy
Many small businesses in Oklahoma have a Business Owner’s Policy (BOP)
. This combines three types of essential coverage that business owners need:
- General liability insurance: Oklahoma businesses can face claims that it caused bodily injury or property damage.
- Commercial property insurance: Oklahoma companies need to protect their owned or rented building and equipment used to operate.
- Business income insurance: Helps replace lost income if you can’t operate because of covered property damage.
A BOP can help protect your Oklahoma business from common claims that can come up during normal operation.
And because every business is different and faces unique risks, we’ve made it easy for you to customize your BOP. This means you can add another type of insurance to get more protection.
For example, let's say your business provides a professional service to customers. Depending on your type of business, you may be able to add an errors and omissions endorsement to your BOP. This helps cover claims that you made a mistake in your professional services.
Consider a BOP if your Oklahoma business has:
- Potential to be sued for bodily injuries or property damage that your business caused. General liability insurance can help cover medical expenses or repair costs.
- A Physical location, whether it’s in your home or an office space. If there’s covered property damage and you can’t operate, business income insurance can help replace lost income to help pay for ongoing costs, like bills or payroll.
- Digital or physical assets that can get stolen or damaged. This includes digital hardware, software, tools, inventory, furniture and customer information. Oklahoma commercial property insurance covers damages to these assets.
Oklahoma Workers’ Compensation Insurance
Workers’ compensation insurance can help pay for employees’:
- Atención médica
- Lost wages
- Treatment costs
- Ongoing care expenses
- Disability benefits
If an employee’s family sues your business, workers’ compensation insurance can also help pay for your legal costs.
Workers’ compensation insurance can help if your:
- Employee has to take four weeks off from work after slipping on the bathroom floor and injuring their neck
- Delivery person gets hurt in a car accident while driving to a customer’s house to deliver a product
- Foreman hurts his back while moving furniture in the warehouse and has to go to an urgent care center
Oklahoma Data Breach Insurance
Data breach insurance can help your Oklahoma business respond to a breach if personally identifiable information (PII) gets lost or stolen. Some insurers call this coverage cyber liability insurance
Data breach insurance can help pay for your business’ costs to:
- Notify impacted individuals
- Offer credit monitoring services
- Launch a public relations campaign to try to improve your reputation
There are two ways that our data breach coverage can help protect your business:
- Quick responses when a data breach takes place. Companies must respond quickly to minimize the impact of a data security incident on their customers.
- Help prepare your business for a data breach. We provide services that assist companies in preparing for a breach by helping ensure the proper security measures are in place before an incident occurs.
Oklahoma General Liability Insurance
Oklahoma general liability coverage helps cover claims that your business caused bodily injury or property damage to someone else. General liability insurance
is also known as commercial general liability (CGL) insurance or business liability insurance. Oklahoma businesses should consider this an important coverage to have. It helps protect you from common claims that can come up during normal business operations, like:
- Reputational harm
- Lesiones corporales
- Daños a la propiedad
How Much Is General Liability Insurance in Oklahoma?
Our customers paid an average of $841 annually, or about $70 a month, for business insurance coverage in Oklahoma. For workers’ compensation insurance, customers in Oklahoma paid an average of $1,150 annually, or about $96 a month.3 But general liability insurance costs can vary in Oklahoma. Insurers use different factors to determine costs which can include:
- Claims history
- Type of business
The best way to find out how much general liability insurance will cost your Oklahoma business is to obtener una cotización
online or through different insurance agencies.
Oklahoma Minimum Business Insurance Requirements
Every employer in Oklahoma is required by law to carry workers’ compensation insurance. There are few exceptions to this law. For example, businesses with five or fewer workers who are all related by blood or marriage to the employer aren’t considered employees. So, these employers aren’t required to get workers’ compensation coverage.4
However, for specific types of businesses and occupations, Oklahoma may require:5
- Special registrations and filings
We’re an experienced insurance company and can help you figure out which types of coverage you need. Get a quote
online for small business insurance in Oklahoma and see how we can help protect your company.
Additional Oklahoma Business Insurance Links
Learn More About Oklahoma Business Insurance
No matter where you live, we can help you with Business insurance in Oklahoma.
Last Updated: November 17, 2023
1 Oklahoma Commerce, “Doing Business in Oklahoma”
2 U.S. Small Business Administration: Office of Advocacy, “2021 Small Business Profile: Oklahoma”
3 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
4 Oklahoma Workers’ Compensation Commission, “Guide for Employers”
5 Oklahoma Commerce, “Business Licensing + Operating Requirements”
Divulgaciones adicionales a continuación.