Maryland Business Insurance

Customized protection for your Maryland business

Business insurance is vital for Maryland business owners who want to protect their livelihood from the financial hardships that often result from a variety of accidents, such as a customer slip and fall or an employee injury.

Maryland’s 639,789 small businesses employ over 48% of the state’s workforce, according to the U.S. Small Business Administration (SBA). These employees are required by Maryland law to be protected by their employer’s workers’ compensation policy.

Get the business protection you need through the Progressive Advantage® Business Program. If you need a business owners policy (BOP), general liability policy or a combination of coverages, our experts can help you customize a policy to match your unique situation.

Types of MD business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Maryland should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Businesses in Maryland are required to have workers’ comp insurance if they have one or more employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Maryland businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Maryland?

The cost of business insurance in Maryland depends on a variety of factors, from the size of your business to its location. For example, a business with three employees in Baltimore will have a different cost than one with twenty employees in Silver Spring.

One of the most important cost factors is the type of work your business specializes in. For example, a tree trimmer who works with dangerous tools high off the ground is exposed to more risk than a landscaper who works with less complex tools at ground level. In this case, the tree trimmer can expect to pay more for coverage.

Learn more about how business insurance rates differ.

Maryland business insurance requirements

Maryland law requires businesses with employees to carry workers’ compensation insurance. This requirement applies to nearly all businesses, however, there are a few exceptions. Agricultural businesses with less than three employees and businesses with an annual income of less than $15,000 per year are exempt. View Maryland’s workers’ compensation laws to learn more.

While other coverages like general liability aren’t required by law, you should probably consider them for your business. Many employers and prospective clients will require that you carry certain coverages before you can begin working with them.

Resources for Maryland small business owners:

Maryland 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.

Why choose Progressive?

  1. Options

  2. Experts

  3. Convenience

Business insurance for all Maryland cities

We can customize business insurance in all Maryland cities, including, but not limited to:

  • Baltimore
  • Columbia
  • Germantown
  • Silver Spring
  • Waldorf
  • Ellicott City
  • Glen Burnie
  • Frederick
  • Gaithersburg
  • Rockville

More information

Man with Maryland business insurance works in a commercial van

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