Business Insurance in Mustang, OK

Experts break down business insurance costs, coverage, companies, and more in Mustang, OK.

Business opportunities in an economic downturn. How to Find the Best Business Insurance in Mustang, Oklahoma.

Mustang, OK, is part of the larger Oklahoma City metropolitan area. While the city's economy is historically agricultural, over 415 businesses are operating in Mustang today. Some of the most prominent industries in Mustang are healthcare, construction, and hospitality.

Mustang’s many small business owners need insurance that protects their assets when something goes wrong. An independent insurance agent can help you compare business insurance quotes in Mustang, OK, to choose the best coverage for you.

How Much Does Business Insurance Cost in Mustang, OK?

Business insurance costs in Mustang, OK vary across businesses and industries. In general, your insurance costs will vary depending on the size of your business, the number of employees you have, the amount and value of your commercial property, the location of your business, and a number of other variables.

Depending on your business's level of risk, you’ll pay more or less than average for your insurance coverage. Some companies, for example, might be more susceptible to property losses from natural disasters, severe weather, or crime because of their location.

There have been 210 federally declared disasters in Oklahoma since 1953. And even everyday events can easily cause unexpected property damage. The leading causes of property losses in Oklahoma are as follows:

  • Fires
  • Burglary and other property crimes
  • Severe storms and lightning
  • Flooding and other water damage
  • Tornados

A local independent insurance agent can help you assess all the risks you face so that you better understand your business insurance costs.

Is Business Insurance Required in Mustang, OK?

You'll need several different business insurance policies, but most are not required by law in Oklahoma. But if your business owns even a single vehicle, you have to buy commercial auto insurance that complies with Oklahoma’s car insurance laws.

Your commercial auto insurance must have liability coverage up to the following minimum limits:

  • Bodily injury liability: $25,000 per person/$50,000 per accident
  • Property damage liability: $25,000 per accident

In addition, workers' compensation insurance is required for all employers in Oklahoma, with a few exceptions. Workers' compensation insurance helps injured workers pay for the costs of medical care and lost wages if they are injured on the job.

What Does Business Insurance Cover in Mustang, OK?

Business insurance in Mustang, OK, will typically include the following types of coverage:

  • Commercial general liability (CGL) insurance: Protects your business from lawsuits related to bodily injury and property damage claims. It pays for medical expenses, legal fees, and financial settlements or judgments. Your CGL policy even covers personal injury claims such as libel and slander.
  • Commercial property insurance: This covers damage to a building and its contents if damaged by a weather event, fire, theft, vandalism, and other covered perils.
  • Business interruption coverage: Protects your earnings if your business cannot operate because of damage after a fire, hail, wind, equipment breakdown, or another covered event. If you must close for a while to make repairs or rebuild, this coverage pays for rent, employee salaries, lost income, relocation fees, and more.
  • Commercial auto insurance: Protects your business-owned cars and trucks from property damage and liability claims.
  • Workers’ compensation insurance: Pays for medical expenses and a portion of an employee's lost wages after a work-related injury.

Your business insurance program will be different from your neighbors.' It's essential to work with an agent who understands your unique business risks and who can recommend policies that provide the proper coverage.


Save on Business Insurance

Our independent agents shop around to find you the best coverage.

What Does Small Business Liability Insurance Cover in Mustang, OK?

Lawsuits against businesses are common. Whether a customer trips and falls in a store or a food manufacturer is responsible for sickening hundreds with tainted products, negligence claims can quickly destroy a business.

A commercial general liability (CGL) policy is a type of small business liability insurance that offers broad protection from lawsuits. It covers the injured party's medical expenses and any property damage you are responsible for. And it covers court costs, attorney fees, and even settlements or judgments that you must pay to injured parties.

CGL policies typically include premises liability insurance, which covers incidents on your business property. CGL policies also include product liability coverage, which pays for third-party damage, illnesses, or injuries caused by defective products that you produce, sell, or promote.

A CGL policy does not cover every kind of liability risk. There are additional small business liability policies available for many of these scenarios.

Talk to your independent insurance agent about why you might need environmental liability insurance, cyber liability insurance, professional liability insurance, or any other customized small business liability protection.

Are There Any Small Business Health Insurance Plans in Mustang, OK?

Employee benefits can help you complete your small business insurance program. Group health insurance and other employee benefits don't cover your physical assets or protect against lawsuits. But they do play a role in ensuring that you have a healthy and happy workforce.

And if you offer a health plan to your employees, you’ll be eligible for certain tax benefits.

There are many different small business health insurance plans in Mustang, OK. A local independent agent can help you find an affordable small business health insurance plan that meets your needs.

What Are the Best Small Business Insurance Companies in Mustang, OK?

Finding the best small business insurance companies in Oklahoma can be simple. A local independent insurance agent can help you get business insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.

How Can an Independent Insurance Agent Help Me Find the Best Business Insurance in Mustang, OK?

Instead of getting an online quote, find an independent insurance agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of business insurance quotes in Mustang so that you can make the best choice.  

What’s more, your agent will be there for you when the time comes to file a claim. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Contact an agent today for a free, no-obligation consultation.

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn Article | Reviewed by Jeffrey Green

©2023, Consumer Agent Portal, LLC. All rights reserved.,US/PST045221