Table of Contents
- What is General Liability insurance coverage?
- Does Oklahoma require General Liability insurance?
- What small business might need General Liability insurance in Oklahoma?
- How much does a General Liability insurance policy cost in Oklahoma?
- How NEXT helps Oklahoma small business owners
What is General Liability insurance coverage?
General liability is probably one of the most common insurance policies purchased by small businesses and self-employed workers in Oklahoma. It offers broad coverage for the risks most companies face, including personal injury and property damage.
The 367,000 small companies that employ more than 51% of all workers in the Sooner State likely rely on commercial general liability for protection.1
General liability is designed to help cover costs when someone (other than an employee) says your business caused bodily injury, property damage or advertising or reputational harm.
Oklahoma general liability insurance can help pay for some claim expenses such as medical bills, the cost to repair or replace property, and legal defense fees if you’re hit with a lawsuit.
Does Oklahoma require General Liability insurance?
Oklahoma does not mandate commercial general liability coverage for all businesses, but it is required for restaurants and bars to receive a state liquor license.
Many small businesses choose to carry coverage to minimize out-of-pocket costs when things go wrong. Proof of insurance can also help a business grow.
Some Oklahoma small businesses choose commercial general liability coverage to help with:
Licenses and permits
Some municipalities or state agencies require certain industries to have general liability to obtain a professional license. For example, restaurants or any food business serving alcohol need to carry coverage to receive a liquor license from the state.2
Business development
Some clients, including the municipality of Oklahoma City, may require proof of insurance before they’ll let general contractors bid on a project or hire them for a job. Even when it’s not a requirement, when you have Oklahoma general liability coverage it helps demonstrate your professionalism.
Financial protection
What if you’re accused of causing physical or advertising injury, damaging someone’s property or if you have to defend your business in a lawsuit? General liability coverage can help pay unexpected costs and keep your business running.
Leasing property
A general liability policy can help you rent an office, warehouse, retail store or other commercial space. Many landlords will ask you for a certificate of insurance before they’ll offer you a lease.
What small business might need General Liability insurance in Oklahoma?
Oklahoma requires restaurants, caterers, bars or any food and beverage business to carry general liability coverage to obtain a liquor license.2 Check with the state to determine how this applies to your business.
Some cities also have trade-specific mandates for general liability coverage. For example, Oklahoma City requires general contractors to provide proof of general liability insurance.3
Slip-and-fall injuries and accidental property damage can affect any business and any industry. Most small businesses, from plumbers in Broken Arrow to window washers in Bixby, can benefit from an Oklahoma general liability policy.
How much does a General Liability insurance policy cost in Oklahoma?
While the majority of NEXT customers pay $25 to $45 a month,** the cost of your general liability coverage in Oklahoma is based on your business and its operations. Insurance carriers consider these factors when pricing policies:
- Where your business is located
- The kind of work you do
- How many employees you have
- Your past insurance claims
To know exactly how much your business will pay for general liability coverage get a free instant quote from NEXT. It takes less than 10 minutes, and you can purchase your policy and get immediate coverage online.
You can also use our general liability insurance calculator for a general estimate of insurance costs in Oklahoma.
How NEXT helps Oklahoma small business owners
We offer a fast and easy path to a free general liability insurance quote and the option to purchase immediate coverage online in less than 10 minutes.
You can also chat with our Oklahoma–based NEXT licensed agents if you need help or have questions.
