Business Insurance in Illinois

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What are the requirements for small business insurance in Illinois?

State laws can affect which insurance policies you need for your small business. These policies are required for Illinois businesses.
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Workers' compensation insurance

Every Illinois business with employees is required to carry workers’ compensation insurance, including businesses with part-time employees. Illinois law requires employers to purchase a policy through an insurance company or obtain permission to self-insure. This policy covers medical bills for work injuries and illnesses.

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Commercial auto insurance

All business-owned vehicles in Illinois must be covered by commercial auto insurance. Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance, as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.

Illinois’ commercial auto insurance requirements are:

  • Bodily injury liability: $25,000 per person / $50,000 per accident
  • Property damage liability: $20,000 per accident
  • Uninsured motorist coverage: $25,000 per person / $50,000 per accident

Recommended insurance policies for small businesses in Illinois

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Find policies for your profession

Photographers, nurses, and lawyers need different insurance coverage. Insureon offers policies for the following Illinois professions and more:

Don't see your profession listed? Find more professions.

How much does small business insurance cost?

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Commercial insurance can be affordable for a small Illinois business. Factors that influence the cost include:

  • Your industry and risk
  • Coverage limits
  • Location
  • Number of employees
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Insureon specializes in Illinois business insurance

In Illinois, insurance agents, agencies, and brokers are licensed by the Illinois Department of Insurance. Insureon is licensed in Illinois as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance (license number 100289220). To verify our licensure in Illinois, use the National Association of Insurance Commissioners Lookup Search. Select Illinois, Licensee, and Business Entity, then enter our NPN or license number in the appropriate field.

What our customers are saying
"I was confused about what type of coverage I needed and Holly was extremely helpful. Way more helpful than I had experienced with other companies. I got the exact coverage I needed!"
Jessica Shannon
Customer since 2016
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