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Insurance cover for small businesses in Ohio
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
A Fidelity Bond is an insurance product that protects your small business from any financial losses resulting from fraudulent or dishonest acts by employees. Where it's embezzlement, indentity theft or forgery, a Fidelity Bond will protect you from losses.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Frequently Asked Questions
How much General Liability insurance do I need in Ohio?
Depending on the size of your business, industry and financial stability, the amount of General Liability Insurance varies. A good rule of thumb for small businesses is $500,000 to $1,000,000 total coverage.
What insurance do I need as a small business in Ohio?
Ohio typically requires businesses to carry a Workers' Compensation Policy, but the other insurance needed would depend on your industry and size of your business. Contact your state department for more information.
How can I lower my Business Insurance premiums in Ohio?
Discounts and price reductions are totally dependent on your insurance carrier. Discuss with them the possibility of implementing loss control services to help lower your premiums.
What types of insurance do you recommend in Ohio?
Aside from the policies mandated by law, we usually recommend small businesses to consider getting General Liability and Commercial Property insurance for their diverse protection and premium coverage.
Guide to commercial insurance by state
Insurance laws and requirements may vary state by state. Click on your state to discover the insurance you will need for your small business: