Business Insurance in Ohio

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Which insurance policies are recommended for Ohio businesses?

Small businesses in Ohio most often buy these types of insurance.

General liability insurance icon

General liability insurance

This type of business liability insurance is important for all Ohio businesses. A general liability policy covers common third-party risks, and it's required by most commercial leases.

BEST FOR
  • Customer bodily injuries
  • Damaged customer property
  • Libel and other advertising injuries
Workers’ compensation insurance icon

Workers’ compensation insurance

Ohio requires every business with employees to purchase workers' comp insurance through the state fund. This policy also protects sole proprietors from work injury costs that health insurance might deny.

BEST FOR
  • Employee medical expenses
  • Disability benefits
  • Physical and occupational therapy
Commercial auto insurance icon

Commercial auto insurance

This policy is required for business-owned vehicles in Ohio. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.

BEST FOR
  • Accidents involving commercial vehicles
  • Theft of a business vehicle
  • Damage to a company vehicle
Business owner’s policy icon

Business owner’s policy

A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of commercial insurance for an Ohio business.

BEST FOR
  • Customer bodily injuries
  • Damaged customer property
  • Damaged business property
Professional liability insurance icon

Professional liability insurance

This policy, also called errors and omissions insurance (E&O), protects Ohio businesses that provide professional services or advice. It covers lawsuits related to work performance.

BEST FOR
  • Work mistakes and oversights
  • Professional negligence lawsuits
  • Late or incomplete work
Errors and omissions insurance icon

Errors and omissions insurance

E&O, sometimes called professional liability insurance, is common with professional services in Ohio. It can cover the cost of lawsuits related to your work performance.

BEST FOR
  • Missed deadlines
  • Accusations of negligence
  • Errors and oversights
Cyber insurance icon

Cyber insurance

This policy covers financial losses from data breaches and cyberattacks. It's recommended for Ohio businesses that handle credit card numbers and other sensitive data.

BEST FOR
  • Customer notification expenses
  • Fraud monitoring services
  • Data recovery costs
Umbrella / excess liability insurance icon

Commercial umbrella insurance

Umbrella insurance boosts coverage on your general liability insurance, commercial auto insurance, and employer's liability insurance when the underlying policy reaches its limit.

BEST FOR
  • Customer lawsuits
  • Auto accident lawsuits
  • Employee injury lawsuits
Commercial property insurance icon

Commercial property insurance

This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture. Bundle it with general liability coverage in a BOP for savings.

BEST FOR
  • Fire
  • Theft and vandalism
  • Weather damage
Looking for different coverage? See more policies.

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Which business insurance policies are required in Ohio?

State laws affect which business insurance coverage you need. These policies are required everywhere in Ohio, from Cincinnati to Cleveland.

Purple check mark

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-related injuries and illnesses, such as a cleaning company employee becoming sick from cleaner fumes. It also provides disability benefits for injured Ohio workers.

Workers' comp policies purchased through the state fund don't include employer's liability insurance, which helps pay for lawsuits related to employee injuries. Ohio employers can buy this protection through a private insurer as stop gap coverage.

Purple check mark

Commercial auto insurance

All business-owned vehicles in Ohio, from Columbus to Dayton, must be covered by commercial auto insurance. This policy covers the cost of accidents involving work vehicles, such as a dispensary employee getting into a collision while doing deliveries.

Ohio's minimum requirements for auto liability insurance are:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $25,000 property damage liability per accident

Trucking companies may need additional coverage to comply with regulations.

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

How much does small business insurance cost in OH?

A small business owner calculating their small business insurance payments

Commercial insurance can be affordable for small business owners. Average costs in Ohio are:

General liability: $42 per month
Workers' comp: $45 per month
Professional liability/E&O: $59 per month

Factors that affect business insurance costs include:

  • Your industry and risks
  • Business income
  • Number of employees
  • Policy limits and deductibles
  • Claims history

How to get insurance for your Ohio business

View video transcript.

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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.

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When you are ready to get insurance for your Ohio business, you can complete Insureon's easy online application to get quotes from top-rated insurance companies.

FAQs about Ohio business insurance

Review answers to frequently asked questions about Ohio insurance.

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

Insureon's licensed agents can help you find policies that fulfill Ohio's requirements and protect against financial loss. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.

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

Yes – that's why cyber insurance is so crucial. Hackers are three times more likely to target small businesses, as they often have fewer resources to combat a threat.

Ohio's data breach laws require businesses to report security breaches to affected residents, and the costs can escalate quickly. Cyber liability insurance lessens the financial impact by paying for notification costs, legal fees, and fines.

Does my industry affect state business insurance requirements?

Yes, your state may have special requirements for business insurance and bonds for your industry. You may also need a license depending on the work you do.

Contractors often need to carry general liability insurance or surety bonds to perform certain types of work. Having the right insurance and bonds helps you comply with state licensing requirements.

Real estate agents and brokers and other professionals who offer advice or services sometimes need errors and omissions insurance to get licensed in their state.

State law requires that attorneys either carry malpractice liability insurance with policy limits of $100,000 per claim and $300,000 annual aggregate, or to notify clients in writing if they don’t have this coverage.

Note that cities and counties may have their own laws, in addition to state laws.

How can I save money on Ohio business insurance?

As with any purchase, shopping around is one of the best ways to find an affordable option. With Insureon, you can compare quotes from top-rated insurance carriers by filling out a free online application.

Other ways to save include bundling policies for a discount, and choosing less expensive policy options, such as lower limits or a higher deductible. Learn more about how to find cheap business insurance.

Find policies that match Ohio's requirements

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