Business Insurance in Ohio
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What are the requirements for small business insurance in Ohio?
Workers' compensation insurance
The workers’ compensation system in Ohio is different than in most other states. Ohio law requires every business with employees to provide workers’ compensation insurance purchased through a state agency. This policy covers medical bills for work injuries and illnesses.
Commercial auto insurance
All business-owned vehicles in Ohio must be covered by commercial auto insurance. Ohio requires $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident, and $25,000 property damage liability per accident.
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.
Recommended insurance policies for small businesses in Ohio
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How much does small business insurance cost?
Commercial insurance can be affordable for a small Ohio business. Factors that influence the cost include:
- Your industry and risk
- Coverage limits
- Location
- Number of employees
Insureon specializes in Ohio business insurance
In Ohio, insurance agents, agencies, and brokers are licensed by the Ohio Department of Insurance. Insureon is licensed in Ohio as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance and for surplus lines (license number 41170). Verify our licensure by using the Ohio Department of Insurance Agent/Agency Locator: search for business entities, then enter our license number.
