Illinois Business Insurance
Customized protection for your Illinois business
As an Illinois business owner, you should consider several types of business insurance to guard against risks related to your daily operations, business property and employees. Without coverage, you might have to deal with the consequences of lawsuits and recovery costs on your own.
Illinois reported 136,400 non-fatal workplace injuries in 2018, with nearly 81% of them from private sector businesses, according to the Bureau of Labor Statistics. An employee missing work, even for a short amount of time, could cause your operations to suffer and jeopardize your cashflow.
Shop for workers’ comp, general liability and other coverages through the Progressive Advantage® Business Program. We’ll help you customize a policy that meets your unique needs.
Types of IL business insurance
How much does business insurance in Illinois cost?
The cost of business insurance in Illinois depends on several rating factors, including your business’s coverage needs, location and size. For example, a business in Chicago can expect a different rate than a business in Bloomington.
The most influential factor is your profession. General contractors oversee multiple projects and manage various types of contractors. A handyman, on the other hand, usually works one job at a time and is only responsible for himself. In this scenario, the general contractor is exposed to more risk and will likely pay more for coverage.
Learn more about the factors that affect your business insurance rate, or get a quote online to find out what you’ll pay for customized coverage.
Illinois business insurance requirements
Workers’ compensation is the only type of business insurance required by Illinois state law. Business owners who employ one or more employees are required to carry workers’ comp coverage through either the state’s insurance fund or a private insurance carrier.
While Illinois doesn’t require you to have other business coverages, such as general liability or a BOP, many prospective clients do. They often include specific coverage and limit requirements in their contracts, and they won’t allow someone to work for them if those requirements aren’t met.
Resources for Illinois small business owners:
Illinois professions we insure
We help small business owners from a wide variety of industries, including these common professions:
Browse more examples of professions we insure.
Business insurance for all Illinois cities
We can customize business insurance in all Illinois cities, including, but not limited to: