Oklahoma Commercial Auto Insurance: Quotes From $34/mo

Oklahoma can be a dangerous place to drive. Did you know a 2022 study found that Oklahoma is the 9th most dangerous state to drive in? If you operate vehicles in your business, you will want proper protection against the dangers of road travel. 

This article will briefly examine one of the best ways to protect your business, commercial auto insurance. Keep reading to learn about commercial auto insurance and your business’s options for buying policies.

What is Commercial Auto Insurance?

Commercial auto insurance is a vehicle insurance policy that covers business-owned vehicles. You get covered when an employee uses a covered vehicle for business-related activities.

Vehicles on the roadways must have some financial protection for incidents they are involved in. Many people use personal auto insurance policies to protect their vehicles. However, personal auto insurance does not cover most work-related activities. This is where commercial auto kicks in. Your business will get coverage for activities like hauling materials, transporting clients, and attending meetings.


Auto Accident Statistics in Oklahoma

Below are a few auto accident statistics for the state of Oklahoma. This data came from Oklahoma Highway Safety who released it in 2021.

Total auto accidents 66,074
Total drivers in crashes 120,498
Traffic injuries 10,644
Traffic fatalities 762
Pedestrian fatalities 86
Unrestrained occupant fatalities 227
Drug-related fatalities 288

Components of Oklahoma Commercial Auto Insurance

Commercial auto insurance oklahoma will offer several different coverages, including auto liability, collision, and comprehensive coverage.


Auto Liability Coverage

Sometimes insurers will split auto liability coverage into two parts, bodily injury and property damage. Bodily injury will cover any medical payments you are responsible for to another party in an accident. Similarly, property damage covers damaged property like vehicle damage you are liable for.


Collision Coverage

A policy with collision insurance will protect your vehicle from road perils. This coverage will include:

  • Collision with other vehicles

  • Road object collision

  • Car damage from flipping

Comprehensive Coverage

Your comprehensive coverage covers the majority of instances of vehicle damage apart from vehicle collisions. Examples include:

  • Weather events

  • Fire

  • Vehicle theft

  • Vandalism

  • Falling objects

  • Animal collisions

Compare Cheap Oklahoma Commercial Auto Insurance Quotes Online

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Add-Ons to Oklahoma Commercial Auto Insurance

You can customize your Oklahoma commercial auto insurance policy further through optional add-ons like the ones below.


Medical Payments

A medical payments policy will help you pay the medical bills for your drivers and passengers. This coverage will pay out even if your business is found at fault for the accident. Medical payment coverage can reduce the burden on your out-of-pocket expenses.


Gap Coverage

Your gap coverage will help you make up the difference in cost for your financed vehicles. If you still owe money on a damaged finance vehicle, gap coverage will help you make up the difference.


Roadside Assistance

A roadside assistance policy will pay for the costs related to breakdowns on the side of the road. Standard events that are covered include:

  • Towing

  • Flat-tires

  • Jumpstarts

Rental Reimbursement

Your rental reimbursement coverage will help you pay for using rental cars in covered situations. Often this coverage is used when your primary vehicle is in the shop, and you cannot perform work-related duties.


Windshield Repair

Commercial auto insurance with windshield repair will help you pay for repairing or replacing your windshield. This policy is sometimes also called auto glass insurance. While you get coverage for windshield damage under comprehensive coverage, this policy has the advantage of being less expensive. Typically it will only add a few dollars to your premium to add windshield repair coverage.


Uninsured Motorist

An uninsured motorist policy will protect you from medical costs or property damage costs someone else’s policy cannot pay for. Sometimes another person’s insurance will not be substantial enough to cover the damage they inflict. Other times you might not be able to find out if the person has insurance in the case of a hit-and-run event. Some policies will separate bodily injury and property damage into different policies.


New Vehicle Replacement

This optional coverage will allow you to get a new vehicle wholly replaced if something happens to it. It can be a valuable add-on because new vehicles tend to depreciate quickly. If you get into an accident in a new vehicle, your policy may not even come close to covering the damages. This policy typically allows you to replace cars purchased within a few years.


Accident Forgiveness

When you get into a vehicle accident, an insurer can respond by raising the rate of your commercial auto insurance policy. Accident forgiveness will forgive a driver’s first at-fault accident so that it doesn’t affect their insurance rate. This policy will reward safe driving and help you save money in the long run.


Oklahoma Commercial Auto Insurance Requirements

Commercial auto insurance Oklahoma must meet minimum requirements for proper vehicle protection. Oklahoma law requires that vehicle operators provide proof of insurance to be legally allowed to drive.  Below are the requirements a commercial auto insurance policy in Oklahoma must follow.


Auto Liability

Oklahoma has minimum liability coverage of 210/100/25. This figure is shown below.


Bodily injury per person Bodily injury per accident Property damage per accident
$25,000 $50,000 $25,000

While these are the minimum limits for auto liability, it is essential to remember that auto accidents often cost three times these minimum limits.


Registration Requirements

Your insurance policy must be issued by an insurance company registered for business in Oklahoma. You must apply this insurance policy to a vehicle registered in the state. You must meet these registration requirements for the Department of Public Safety to consider your policy effective.


A worker heading to a meeting with a client.


Exclusions of Commercial Auto Insurance

While it may seem like commercial auto insurance covers a lot, it will not cover anything. The types of events that commercial auto insurance does not cover include:

  • Wars: War perils are typically excluded from many types of insurance policies. Insurers cannot calculate how to factor war damages into premiums. Damage from war can be astronomically high and inconsistent. It is easier to exclude it from coverage.

  • High-risk or intentional acts: Actions performed by your vehicles that are inherently risky or intentionally damaging will not be covered. This can be something like getting into a street race or jumping on a ramp.

  • Pollution: You will need a separate policy or a pollution endorsement for your business vehicles. Commercial auto will not cover if you transport hazardous materials or cause a pollution spill with your vehicle.

What is the Difference Between Combined Limits and Split Limits?

Combined and split limits describe the liability limits your policy will have. A combined limit will combine bodily injury and property damage liability into one pool. This combination will allow you to cover any of those two liabilities up to the policy limit.

In contrast, a split limit will offer separate limits for each type of liability. This means your property damage and bodily injury limits may differ.


Is Oklahoma a No-fault State?

No. Oklahoma is considered an at-fault state. At-fault states put the financial burden of vehicle accident damage on the party found to be at fault for the accident. This also means Oklahoma does not require drivers to carry personal injury protection or no-fault insurance.

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Oklahoma Commercial Auto Insurance Cost

The cost of your Oklahoma commercial auto insurance policy is $34 per month or $408 per year. Here’s a table showing the rates of the best companies:

Cost per Month Cost per Year Best for
NEXT $34 $408 Best overall; Fastest commercial auto insurance
The Hartford $40 $480 Leased and rented vehicles coverage
CoverWallet $37 $444 Comparing commercial auto insurance quotes online
Tivly $42 $504 Comparing commercial auto insurance quotes over the phone
Thimble $45 $540 Streamlined buying process
Hiscox $48 $576 Customizable commercial auto insurance

Compare Cheap Oklahoma Commercial Auto Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Oklahoma Commercial Auto Insurance Companies

Before you go, please look at our reviews of these commercial auto insurance companies. Each one has something to offer that you will find fits with your Oklahoma business.


NEXT Insurance

Pros 

  • Lets you get covered while doing business out-of-state

  • Get a quote within 10 minutes of starting the form

  • Offers apps for Apple and Android users

Cons

  • None

NEXT offers a suite of options for its commercial auto insurance. You can find add-ons for towing, uninsured motorists, and rental reimbursement. With collision & comprehensive coverage, you can handle untimely repairs quickly. NEXT has an A- rating with AM Best. The company serves over 420,000 customers just like you.

Best for: Best overall; Fastest commercial auto insurance

Average cost: $34 per month 

Our rating: 10/10


The Hartford Insurance

Pros

  • Rental car coverage

  • Hired and non-owned auto coverage

  • Covers vans, cars, pickup trucks, box trucks, and service utility trucks

Cons

  • Customer report customer service delays

The Hartford offers commercial auto insurance for people who own, lease, or rent cars and trucks. Their website is informative to new buyers and explains their policy offerings in plain English. They separate coverage by industry which makes the buying process simple. The Hartford has an A- rating with AM Best.

Best for: Leased and rented vehicles coverage

Average cost: $40 per month

Our rating: 10/10 


CoverWallet Insurance

Pros

  • Offers towing and rental coverage

  • Policies can cover cars, trucks, heavy-duty trucks, and semi-trucks

  • The insurance dashboard keeps things simple

Cons

  • Not an insurance company but an insurance broker

CoverWallet offers unique ways to track and buy insurance policies. You get access to a slick policy dashboard where all the information you need is at your fingertips. The company offers commercial auto insurance from over ten top insurers, so you are more likely to find a policy that works for you. The Better Business Bureau gave CoverWallet an A+ rating.

Best for: Comparing commercial auto insurance quotes online 

Average cost: $37 per month 

Our rating: 10/10


Tivly Insurance

Pros

  • Offers policies from top names like The Hartford and Progressive

  • Protection for dump trucks, refrigerator trucks, and catering trucks

  • Responds to phone calls quickly

Cons

  • You need to call to compare quotes

Tivly offers a vast selection of partners for your business’s commercial auto policy. They have over 200 partners that you will narrow down to a few that personally cover you. Tivly boasts an A rating with the Better Business Bureau. They have 20 years of experience in helping businesses like yours find the right policy. Call now to compare quotes over the phone. 

Best for: Comparing commercial auto insurance quotes over the phone 

Average cost: $42 per month 

Our rating: 10/10


Thimble Insurance

Pros

  • Offers uninsured motorist coverage

  • Rated 4.6/5 in customer reviews

  • Insurance policies that scale with your business

Cons

  • You can’t reach customer service by calling 

Thimble offers simple but effective policies that can save your business from a vehicle lawsuit. You get access to policies through their partners that you can customize down to the month, day, and hour of coverage. This aspect makes them perfect for businesses that want to invest in a short-term policy.

Best for: Streamlined buying process

Average cost: $45 per month 

Our rating: 10/10 


Hiscox Insurance

Pros

  • Allows you to refund policies within 14 days

  • Offers 5% discounts when you bundle multiple policies

  • Over 100 years of experience

Cons

  • Focuses on small businesses

Hiscox focuses on providing effective policies for small businesses. They allow you to customize your policies to match your specific needs. They offer protection for hundreds of professions and have over 100 years of experience in the industry. Hiscox has an A rating from AM Best for their financial strength.

Best for: Customizable commercial auto insurance

Average cost: $48 per month 

Our rating: 10/10 

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