Business Insurance in Baltimore, MD

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Learn about Baltimore's business requirements

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Which insurance policies are recommended for Baltimore businesses?

Baltimore, Md., is consistently ranked as a fantastic destination for starting a small business. Protect your Baltimore business with these insurance products.

General liability insurance icon

General liability insurance

A general liability policy pays for legal costs from customer accidents, along with defamation and copyright infringement claims. Commercial leases in Baltimore often require this coverage.

  • Customer accidents at your business
  • Damage to a customer's property
  • Slander and other advertising injuries
Professional liability insurance icon

Professional liability insurance

A professional liability policy covers legal costs related to claims of negligence, such as advice that caused a client to lose money. It's sometimes called errors and omissions insurance (E&O).

  • Mistakes that cause financial loss
  • Accusations of professional negligence
  • Missed deadlines
Cyber insurance icon

Cyber liability insurance

Cyber insurance helps small businesses in Baltimore recover after a data breach or a cyberattack. Every business that handles customer information should have this coverage.

  • Data breach notification costs
  • Fraud monitoring services
  • PR campaigns after a breach
Business owner’s policy icon

Business owner’s policy

A business owner's policy, or BOP, is an affordable way to buy general liability coverage and commercial property insurance together. It's recommended for low-risk small businesses in Baltimore.

  • Customer slip-and-fall injuries
  • Damaged business property
  • Theft and vandalism
Workers’ compensation insurance icon

Workers’ compensation insurance

Workers' comp insurance is required for all Maryland businesses with one or more employees. It also covers work-related injuries for sole proprietors, which health insurance may deny.

  • Medical bills from job-related injuries
  • Disability benefits
  • Legal fees from workplace injuries
Commercial auto insurance icon

Commercial auto insurance

All vehicles owned by Baltimore businesses must be covered by commercial auto insurance. This auto  policy primarily covers injuries and property damage caused by your vehicle.

  • Injuries from an auto accident
  • Damage caused by your vehicle
  • Lawsuits from an auto accident
Errors and omissions insurance icon

Errors and omissions insurance

E&O insurance protects consultants and professional services against legal defense costs from dissatisfied clients. It's also called professional liability insurance.

  • Errors and oversights
  • Breach of contract
  • Professional negligence
Commercial property insurance icon

Commercial property insurance

This policy covers physical damage to a Baltimore business's building and its contents, including any computers and equipment. You can bundle it with general liability in a BOP.

  • Burglaries
  • Fires
  • Storm damage
Umbrella / excess liability insurance icon

Commercial umbrella insurance

An umbrella policy provides coverage once the limit is reached on your underlying general liability insurance, commercial auto insurance, or employer's liability insurance.

  • Customer lawsuits
  • Auto accident lawsuits
  • Employee injury lawsuits
Looking for different coverage? See more policies.

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Which business insurance policies are required in Baltimore?

State and local laws can determine the type of insurance you need. These policies help you comply with Maryland business insurance requirements.
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Workers' compensation insurance

Most Maryland businesses with full-time or part-time employees are required to provide workers' compensation insurance for their employees. Baltimore small business owners who fail to obtain workers' comp may be fined up to $10,000.

Workers' compensation protects small businesses and helps cover legal and medical expenses in the event that an employee is injured while at work.

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Commercial auto insurance

All commercial vehicles owned by Maryland small businesses must be covered by commercial auto insurance. This policy protects businesses if they are involved in an accident or incident while driving for company purposes, such as retail store deliveries or landscaping.

Maryland's minimum auto policy requirements include:

  • $30,000 per personal injury liability
  • $60,000 per accident bodily injury liability
  • $15,000 per accident property damage liability

Higher limits may provide additional benefits and coverage in the event of an incident or lawsuit resulting from an accident. If you or your employees use a personal vehicle for work purposes, you'll need a hired and non-owned auto insurance policy.

How much does business insurance in Baltimore cost?

A small business owner calculating their small business insurance payments

Small businesses in Baltimore don't have to pay a lot for commercial insurance. Here are a few average costs for Maryland businesses:

General liability: $35 per month
Workers' comp: $43 per month
Professional liability/E&O: $73 per month

Business insurance costs depend on factors such as:

  • Type of business
  • Business operations
  • Number of employees
  • Policy limits and deductibles
  • Claims history

How to get insurance for your Baltimore business

View video transcript.

We're on top of your small and medium-sized business insurance needs. We'll help you find policies that protect what you've worked so hard to build. Start here.

Tell us about yourself. Questions? We've got your back. The info you share is secure. We'll double-check it and a pro with experience in your field will be in touch.

Fast? You can compare quotes from leading insurance providers in seconds and get a certificate of insurance the same day.

Always online, always on your side. Helping protect your business.

Are you ready to get insurance coverage for your Baltimore business? Complete Insureon's easy online application to get a quote today from top-rated providers.

FAQs about Baltimore business insurance

Review answers to common questions about Baltimore business insurance needs.

How do I get a certificate of insurance for my business?

Getting insurance for your Baltimore small business is quick and easy with Insureon. Just follow these three steps:

  1. Complete this easy online application to get free business insurance quotes from the nation's leading insurance companies.
  2. Pick the policies that meet your needs and pay for them online.
  3. Download a certificate of insurance by logging into your account.

Our licensed insurance agents are here to help you determine the best coverage options for your Baltimore business. Most small business owners receive their certificate of insurance within a few hours.

Can my business be held liable for a data security breach?

Maryland small business owners are required to notify affected residents and the Office of the Attorney General within 45 days of discovering a data breach.

A data breach occurs when criminals obtain personal information through phishing scams, ransomware, and other means. Small businesses are often targets of these data breaches because they generally have fewer resources to prevent them than large corporations.

If this data breach occurs at your place of business, you can be held financially liable for tracking down and informing affected customers, which can get quite expensive. A cyber liability insurance policy can help your business navigate a costly data breach.

Does my industry affect Baltimore insurance requirements?

Yes, your industry can determine the types of insurance you should carry for your Baltimore small business. Some industries have additional business insurance coverage requirements set forth by their licensing and regulatory bodies.

Examples of industry-specific insurance requirements include:

How can I get help starting a small business in Baltimore, MD?

If you're interested in starting a new business in Baltimore, the following resources can help you find funding, training, business planning support, and more.

Some programs may require small business insurance or a surety bond in order to obtain a small business loan.

How can I save money on Baltimore business insurance?

Saving money on small business insurance is simple. To compare quotes and pick the best policies from the nation's leading insurance agencies, simply complete Insureon's easy online application.

A few other tips to save money on your small business insurance:

  • Pick the right policies. Not all businesses need all types of insurance. Evaluate your industry's risks and liabilities before selecting the best policies for your needs.
  • Choose a policy bundle. Policy bundles, such as a business owner's policy (BOP), can help you save quite a bit each month.
  • Stay safe and compliant. The fewer accidents and lawsuits your business has to manage, the lower your premiums will be.

Learn more about how to find cheap business insurance.

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