Located in the South Central region of the United States, Oklahoma is home to a number of well-known companies. In Oklahoma, you'll find ancient mountain ranges, prairies, mesas, and eastern forests. The majority of the state lies in the Great Plains, Cross Timbers, and Interior Highlands.
In addition to producing natural gas, oil, and agricultural products, Oklahoma relies on the aviation, energy, telecommunications, and biotechnology industries for its economic development. Most Oklahomans live within their metropolitan statistical areas, with Oklahoma City and Tulsa serving as the state's primary economic anchors.
Natural gas, aircraft, and food are all important products produced in Oklahoma. Natural gas production in the state ranks third in the country, agricultural production ranks 27th, and wheat production ranks 5th. There are six Fortune 1000 companies headquartered in Oklahoma, including four Fortune 500 companies.
With a thriving economy, small businesses in Oklahoma need comprehensive general liability insurance to protect them against lawsuits.
Oklahoma General Liability Insurance: What Does It Cover?
General liability insurance is essential for your business. It safeguards your business assets from the hefty costs of lawsuits and helps you qualify for leases and contracts that require coverage. Business owners who deal directly with customers and clients will benefit from this type of business liability insurance, also commonly known as commercial general liability (CGL).
When a lawsuit is filed over property damage or personal and advertising injury, the commercial liability policy covers legal defense costs. Everything from legal fees to court-ordered judgments and settlements can be covered by your CGL policy.
In most cases, general liability insurance covers claims that arise during regular business operations, such as:
- Bodily injuries - An injury on the job premises can lead to hefty liability claims. As an example, general liability coverage can cover the medical expenses of a customer who slips and falls on your property.
- Property damage - Accidents can occur anywhere, and if the mishap damages property, your company is responsible for the damages. A policy like this can cover the cost of repairs or replacements.
- Personal injury - Libel or slander can be involved in these cases. When your business is sued, general liability insurance can help cover your defense costs.
In most states, general liability insurance policies are required by law for small businesses. It may be requested by your landlord, mortgage company, or clients. Other contractors who don’t have a physical location or expensive equipment may not need a business owner’s policy or commercial property insurance.
In addition to protecting your business, professional liability insurance ensures that you qualify for contracts and leases that require insurance. A certificate of insurance proves that your company is capable of handling lawsuits involving bodily injury and property damage.
Get a Free Oklahoma General Liability Insurance Quote From Stampede Insurance
At Stampede Insurance, our expert brokers can help you find the most appropriate general liability insurance policy for your needs. By combining our expertise and resources, we can help you choose the right business insurance for your budget. Here are a few of the policies we offer:
- Commercial Property Insurance
- Cyber Liability Insurance
- Product Liability Insurance
- Commercial Auto Insurance
Your general liability insurance cost will be determined by your coverage, limits, and risks. You can ask one of our licensed insurance agents any questions you might have about coverage. We also offer services in Idaho, Arizona, and Alabama.
Contact one of our experienced brokers to find the general liability insurance coverage you need!
