The Hartford tops our analysis of Oklahoma business insurance providers because of its strong customer service and comprehensive coverage. NEXT and Simply Business are also reliable options for small business owners across the state.
Business Insurance in Oklahoma
The Hartford tops our Oklahoma business insurance rankings with a MoneyGeek score of 4.65 out of 5.
Find affordable coverage that protects your small business in Oklahoma below.
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Updated: August 25, 2025
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Key Takeaways
Small business owners can get the best business insurance in Oklahoma from The Hartford, NEXT and Simply Business.
The best business insurance in Oklahoma depends on your industry risks, employee count and preferred coverage limits.
To find the best coverage, assess your risks, compare multiple quotes, research provider service quality and maximize available discounts.
Best Business Insurance Companies in Oklahoma
| The Hartford | 4.65 | 1 | 2 | 3 |
| NEXT | 4.62 | 4 | 1 | 2 |
| Simply Business | 4.49 | 4 | 5 | 1 |
| Coverdash | 4.41 | 5 | 6 | 2 |
| biBerk | 4.38 | 7 | 2 | 5 |
| Progressive Commercial | 4.32 | 3 | 7 | 5 |
| Thimble | 4.30 | 2 | 8 | 5 |
| Hiscox | 4.27 | 6 | 4 | 6 |
| Chubb | 4.26 | 8 | 3 | 4 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best by Coverage Type
The Hartford leads Oklahoma businesses with superior general liability coverage, business owner's policies (BOP) and workers' compensation insurance. For professional liability insurance, NEXT provides the best option.
| Business Owners Policy | The Hartford | 4.70 |
| General Liability | The Hartford | 4.65 |
| Professional Liability (E&O) | NEXT | 4.70 |
| Workers Compensation | The Hartford | 4.61 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best Oklahoma Small Business Insurance Reviews
Our research identified the three best business insurance providers in Oklahoma for small business owners. Here's what makes each company stand out if you need comprehensive coverage.
The Hartford
Best for Affordability
MoneyGeek Rating
4.7/ of 5
4.7/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$85This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$65This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5Our Survey: Likely to Be Recommended to Others
4.8/5
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.4/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$97This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$65This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5Ranked #4 nationallyOur Survey: Likely to Be Recommended to Others
4.8/5Ranked #1 nationally
Simply Business
Best for Coverage Availability
MoneyGeek Rating
4.5/ of 5
4.4/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$80This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$66This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.7/5Our Survey: Likely to Be Recommended to Others
4.2/5
Cheapest Business Insurance Companies in Oklahoma
The Hartford offers the most affordable business insurance in Oklahoma at $83 monthly ($1,001 annually). Simply Business and Thimble round out the top three budget-friendly options, with rates of $84 and $89 per month, respectively. You can compare all providers and their rates in the table below.
| The Hartford | $83 | $1,001 |
| Simply Business | $84 | $1,011 |
| Thimble | $89 | $1,064 |
| Progressive Commercial | $93 | $1,121 |
| NEXT | $94 | $1,132 |
| Coverdash | $95 | $1,146 |
| biBerk | $98 | $1,177 |
| Hiscox | $102 | $1,222 |
| Chubb | $111 | $1,327 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest General Liability Insurance Companies in Oklahoma
For Oklahoma business owners, Simply Business offers the cheapest general liability coverage at $80 per month. The Hartford ranks second with monthly premiums of $85. Compare rates from all providers in the table below.
| Simply Business | $80 | $955 |
| The Hartford | $85 | $1,019 |
| Nationwide | $92 | $1,099 |
| Progressive Commercial | $94 | $1,133 |
| NEXT | $97 | $1,168 |
| Coverdash | $98 | $1,172 |
| Thimble | $101 | $1,217 |
| Hiscox | $108 | $1,295 |
| biBerk | $108 | $1,296 |
| Chubb | $112 | $1,347 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Professional Liability Insurance Companies in Oklahoma
The Hartford offers Oklahoma's lowest professional liability insurance (E&O) rates at $67 monthly ($810 annually). NEXT provides another budget-friendly option for business owners in the state.
| The Hartford | $67 | $810 |
| NEXT | $69 | $825 |
| Progressive Commercial | $71 | $851 |
| Simply Business | $72 | $865 |
| Hiscox | $73 | $874 |
| Thimble | $73 | $875 |
| Coverdash | $74 | $882 |
| biBerk | $75 | $906 |
| Chubb | $84 | $1,004 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability/errors and omissions policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Workers’ Comp Insurance Companies in Oklahoma
NEXT offers the cheapest workers' comp rates in Oklahoma at $65 monthly ($780 annually). The Hartford and Simply Business also provide competitive rates, making all three solid choices for affordable coverage.
| NEXT | $65 | $780 |
| The Hartford | $65 | $785 |
| Simply Business | $66 | $796 |
| Thimble | $67 | $798 |
| Progressive Commercial | $67 | $802 |
| Hiscox | $67 | $809 |
| Coverdash | $69 | $823 |
| biBerk | $71 | $850 |
| Chubb | $80 | $960 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest BOP Insurance Companies in Oklahoma
Thimble offers the cheapest BOP rates in Oklahoma, with an average monthly cost of $114 ($1,365 annually). The Hartford, Simply Business and biBerk also provide affordable BOP insurance options in the state.
| Thimble | $114 | $1,365 |
| The Hartford | $116 | $1,391 |
| Simply Business | $119 | $1,430 |
| biBerk | $138 | $1,656 |
| Progressive Commercial | $141 | $1,697 |
| Coverdash | $142 | $1,705 |
| NEXT | $146 | $1,752 |
| Hiscox | $159 | $1,911 |
| Chubb | $166 | $1,995 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP policies. Survey results reflect limited sample data and may not represent all available rates in your area.
How Much Does Business Insurance Cost in Oklahoma?
Business insurance in Oklahoma typically costs between $69 to $138 monthly, with workers' compensation being the most affordable and business owner's policies the most expensive. Rates vary based on the coverage type your business needs.
| BOP | $138 |
| General Liability | $98 |
| Professional Liability (E&O) | $73 |
| Workers Comp | $69 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cost of Business Insurance by Industry and Coverage
The cost of business insurance in Oklahoma varies widely depending on industry and coverage types. Speech therapists pay just $6 monthly for workers' compensation, while pressure washing businesses pay $1,233 monthly for a business owner's policy.
Data filtered by:Results filtered by:
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Coverage Type:Business Owners Policy
Select
Industry:Accountants
| Accountants | Business Owners Policy | $31 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
What Factors Influence My Costs?
Want to know why your premiums are so high? We listed several factors that impact your premiums:
Industry Risk Level
Your line of work directly impacts your insurance costs. Oklahoma construction companies pay much more than consultants because job sites have higher accident rates. A roofing contractor might pay $500 monthly for coverage, while an accountant pays just $50.
Geographic Location and Weather Risks
Oklahoma's location puts businesses at high risk for severe weather damage. According to NOAA data, Oklahoma ranks third nationally for natural disasters, with over 100 billion-dollar weather events since 1980. Insurers price this risk into policies, especially for businesses with physical locations or outdoor operations.
Business Size
Your workforce size directly affects your insurance costs. Workers' comp is calculated per $100 payroll, while liability coverage costs reflect your revenue and customer volume. A retail store with 20 employees and high foot traffic pays much more than a solo consultant working remotely.
Claims History
Your claims record follows your business for years and can quickly drive up premiums. Filing even one liability claim affects rates across multiple coverage types. Insurers offer better rates to businesses with claim-free records.
Coverage Types and Limits
Your premium depends on the protection level you choose. Higher coverage limits increase costs, but bundling options like business owner's policies can reduce overall expenses by combining property and liability coverage.
Years in Business
New Oklahoma businesses face higher insurance rates because insurers lack data to assess their risk level. Operating claim-free for several years shows insurers you run a safe business, often leading to lower premiums.
Professional Certifications
Safety certifications and professional licenses can reduce your insurance costs, especially in high-risk industries. Having OSHA certifications shows insurers you prioritize workplace safety, often qualifying your business for premium discounts.
Oklahoma Business Insurance Buying Guide
Running a business takes considerable time and energy, which can make getting business insurance seem overwhelming. Our guide breaks down Oklahoma business insurance into simple steps, helping you make informed coverage decisions.
What Coverage Is Required?
We've researched all Oklahoma business insurance requirements, so you don't have to. Below is our detailed breakdown of coverage requirements.
Workers' Comp
Oklahoma requires workers' compensation insurance for most businesses, though it's more flexible than many states for small operations. You must carry workers' comp if you have one or more employees, including part-time and seasonal workers. However, Oklahoma allows corporate officers to opt out of coverage, and sole proprietors and business partners are exempt unless they choose coverage. The state has specific rules for construction and agricultural employees that may require coverage depending on the work type and duration.
Commercial Auto Insurance
Small businesses that own vehicles or require employees to drive for work need commercial auto insurance. Oklahoma requires all vehicles to carry $25,000 per person, $50,000 per accident for bodily injury, plus $25,000 for property damage. Given Oklahoma's mix of urban areas and rural roads, businesses should consider higher limits for better financial protection.
Unemployment Insurance
Oklahoma requires unemployment insurance for businesses that pay wages of $1,500 or more in any quarter or employ one or more workers for 20 weeks during a calendar year. Register with the Oklahoma Employment Security Commission and pay quarterly contributions based on your payroll and experience rating.
Professional Liability Insurance
If you hold a professional license in Oklahoma for medical, legal, architectural or engineering work, you'll typically need professional liability insurance. Health care providers must carry malpractice coverage, while other professionals should check with their licensing boards for specific requirements. The coverage amounts vary by profession and practice type.
Contractor Bonds and Insurance
If you hold a contractor license in Oklahoma, you'll need to carry liability insurance and may need to post a surety bond depending on your work type. General contractors typically need at least $50,000 in liability coverage, while specialty contractors have varying requirements. Home improvement contractors may need additional bonding to protect customers if you don't complete work as promised or follow licensing rules.
What Coverage Do We Recommend?
Oklahoma keeps business insurance requirements minimal, leaving you to make smart coverage decisions. Here's our analysis of the best coverage options for the state's leading industries:
Excavation | General liability, workers' compensation, commercial auto, equipment coverage, environmental liability, oil field support coverage, tornado coverage, hail damage protection, underground utility damage, explosion coverage | Oklahoma excavation companies support oil and gas operations with environmental liability from oil spills and contaminated soil disturbance. Frequent tornadoes can destroy equipment, while oil field work creates explosion and toxic exposure risks requiring specialized coverage. |
Manufacturing | General liability, product liability, workers' compensation, commercial property, business interruption, aerospace manufacturing coverage, tornado coverage, hail damage protection, supply chain interruption | Oklahoma aerospace, energy equipment manufacturers and food processing manufacturers face frequent tornado damage and hail risks. Aerospace manufacturing requires specialized product liability for safety-critical components, while tornado season can disrupt global supply chains. |
Trucking | Commercial auto, cargo coverage, general liability, workers' compensation, tornado coverage, hail damage protection, oil field transport, hazmat transportation, agricultural transport, severe weather delays | Oklahoma trucking companies transport oil, gas and agricultural products through Tornado Alley with extreme weather exposure. Oil field trucking requires specialized hazmat coverage, while severe weather creates elevated accident risks and cargo damage exposure. |
Construction/Contractor | General liability, workers' compensation, commercial auto, builder's risk, professional liability, tornado coverage, hail damage protection, oil field construction, aerospace facility construction | Oklahoma construction faces frequent tornado damage, devastating hailstorms and oil field construction hazards. Energy facility construction requires specialized coverage for explosive environments, while aerospace facilities need precision construction liability and security requirements. |
Food | General liability, product liability, commercial property, equipment breakdown, business interruption, contamination coverage, recall coverage, tornado coverage, beef processing coverage, agricultural processing | Oklahoma food processors handle beef, wheat, and agricultural products with contamination risks and tornado supply chain disruptions. Beef processing requires specialized coverage for USDA compliance, while tornado damage can trigger massive contamination and product recalls. |
How to Get the Best Cheap Business Insurance in Oklahoma
Running a small business in Oklahoma means juggling many expenses, including insurance costs. Here are practical steps to secure reliable coverage while keeping your business insurance expenses manageable:
- 1
Assess Your Actual Risks First
Start by evaluating risks specific to your Oklahoma business operations. A retail store needs strong property and liability coverage, while an IT consultant should focus on professional liability and cyber protection.
- 2
Get Quotes from Multiple Insurers
Oklahoma insurance rates vary significantly between providers for identical coverage. Contact at least three insurance companies to compare prices and coverage options, as rates can differ by thousands of dollars annually.
- 3
Choose Providers Based on Service Quality
Look beyond price to examine each insurer's reputation in Oklahoma and financial strength ratings. A construction company needs an insurer with proven experience handling contractor claims, while a medical office requires expertise in health care liability.
- 4
Maximize Available Discounts
Take advantage of multi-policy discounts and safety program credits available to Oklahoma businesses. A retail store can save by bundling property and liability coverage, while implementing security systems can reduce premiums further.
- 5
Review Coverage Annually
Reassess your insurance needs as your Oklahoma business evolves. A small shop that expands to multiple locations needs updated property coverage, while adding delivery services requires commercial auto insurance.
Oklahoma Business Insurance: Bottom Line
Based on our analysis, The Hartford, NEXT and Simply Business are Oklahoma's best business insurance providers. However, what's ideal for you depends on your business risks and employee needs. Research each company's service quality, maximize discounts and select coverage that fits your budget.
Small Business Insurance in Oklahoma: FAQ
Small business owners in Oklahoma need clear answers about business insurance requirements and coverage options. We've gathered expert responses to common questions below.
What business insurance is required by law in Oklahoma?
Oklahoma requires workers' compensation if you have one or more employees. Commercial auto insurance is mandatory for business vehicles with minimum limits of $25,000/$50,000/$25,000. Contractors need surety bonds for licensing.
How much does business insurance cost in Oklahoma?
Depending on coverage, business insurance costs range from $69 to $138 monthly. Workers' comp is the lowest at $69, while BOPs are the highest at $138. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in Oklahoma?
The Hartford offers the lowest rates at $83 monthly in Oklahoma, followed by Simply Business ($84) and Thimble ($89). Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in Oklahoma?
Begin with general liability insurance to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for company vehicles. Retail stores need property coverage, while contractors require builders' risk and equipment insurance.
What is the best business insurance company in Oklahoma?
The Hartford leads business insurance in Oklahoma with a MoneyGeek score of 4.65 out of 5. NEXT and Simply Business round out the top choices. Compare multiple insurance providers to match your business requirements for the best coverage and rates.
Do small businesses in Oklahoma need workers' compensation insurance?
Workers' compensation is optional for most Oklahoma businesses, except those with government contracts. However, forgoing coverage leaves businesses vulnerable to employee injury lawsuits that could lead to bankruptcy.
What factors affect business insurance costs in Oklahoma?
Your industry significantly impacts costs, with construction businesses paying higher premiums than retail stores. Location affects rates, particularly in areas prone to natural disasters. Employee count drives workers' compensation expenses, while claim history and safety measures influence premiums.
How do I get cheap business insurance in Oklahoma?
Compare quotes from multiple insurers like The Hartford and NEXT, which offer competitive rates in Oklahoma. Bundle policies and implement safety programs to secure additional discounts.
What's the difference between general liability and errors and omissions (professional liability) insurance in Oklahoma?
General liability covers physical incidents on business premises, such as customer injuries and property damage. Errors and omissions insurance protects against professional errors, poor advice and service-related errors.
Can I get business insurance quotes online in Oklahoma?
Yes, top insurance providers offer online quotes in Oklahoma. Have your business information ready for faster quotes, though complex businesses may need an agent for specialized coverage.
How We Scored the Best Business Insurance Companies in Oklahoma
Small business owners in Oklahoma need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help Oklahoma entrepreneurs navigate challenges like severe weather risks and the state's optional workers' compensation laws.
We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We compared rates across multiple carriers, factoring in coverage limits and deductibles to determine value.
- Customer experience (30% of score): We evaluated claims processing, customer service responsiveness and digital tools.
- Coverage options (15% of score): We assessed policy customization options and industry-specific endorsements.
- Financial strength (5% of score): We analyzed insurer stability through independent rating agency scores.
This approach helps Oklahoma small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- National Centers for Environmental Information. "Billion-Dollar Weather and Climate Disasters." Accessed August 25, 2025.
- Trustpilot. "Simply Business US." Accessed July 25, 2025.
- Trustpilot. "The Hartford." Accessed July 25, 2025.