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.
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.
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 |
Commercial auto insurance oklahoma will offer several different coverages, including auto liability, collision, and comprehensive 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.
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
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
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You can customize your Oklahoma commercial auto insurance policy further through optional add-ons like the ones below.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 |
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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.
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
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
Rental car coverage
Hired and non-owned auto coverage
Covers vans, cars, pickup trucks, box trucks, and service utility trucks
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
Offers towing and rental coverage
Policies can cover cars, trucks, heavy-duty trucks, and semi-trucks
The insurance dashboard keeps things simple
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
Offers policies from top names like The Hartford and Progressive
Protection for dump trucks, refrigerator trucks, and catering trucks
Responds to phone calls quickly
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
Offers uninsured motorist coverage
Rated 4.6/5 in customer reviews
Insurance policies that scale with your business
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
Allows you to refund policies within 14 days
Offers 5% discounts when you bundle multiple policies
Over 100 years of experience
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
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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