Ohio Business Insurance
Customized protection for your Ohio business
Ohio business owners should consider several types of business insurance to guard against a variety of work-related accidents. Customer slips, property damage and employee injury are a few of the many incidents that can result in debts that can put the financial welfare of a business at risk.
There are nearly 950,000 small businesses in Ohio that account for 99.6% of all businesses in the state, according to the Small Business Administration (SBA). Each should have adequate business insurance to protect their livelihood, cash flow and assets.
Shop for professional liability, business owners, professional liability and more through the Progressive Advantage® Business Program. We’ll help you customize an Ohio policy that meets your unique needs.
Types of OH business insurance
This is the most common business insurance coverage and nearly all businesses in Ohio should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.
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.
Businesses in Ohio are required to have workers' comp insurance if they have one or more employees. Ohio requires any business needing coverage to get it directly through the state. Learn more about workers’ compensation in Ohio.
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.
Ohio 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).
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.
How much does business insurance cost in Ohio?
The cost of business insurance in Ohio depends on a variety of factors including a business’s industry, size, coverage needs and location. For example, a business located in Columbus can expect a different rate than one in Akron, and a business that has employees will likely pay more than one that doesn’t.
The most influential factor is the level of risk associated with the type of work that’s done. Businesses like roofers and tree trimmers are considered high-risk because their work is complex and requires working high off the ground. These kinds of professions can expect to pay more due to their increased exposure.
Ohio business insurance requirements
Ohio law requires all businesses with employees to carry workers’ compensation insurance. Business owners have the option of self-insuring or buying coverage directly through the state’s insurance fund. Unlike most other states, Ohio’s unique laws prohibit businesses from purchasing coverage through private insurance carriers.
Other insurance like general liability, BOP and professional liability aren’t required by state law, but you should consider them to protect your livelihood from unexpected accidents. It’s common for clients and landlords to require you to have certain business coverages and limits before you can begin working with them.
Resources for Ohio small business owners:
Ohio professions we insure
We help small business owners from a wide variety of industries, including these common professions:
- Cleaning services
- Personal trainers
Browse more examples of professions we insure.
Why choose Progressive?
Options – We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts – As the #1 Commercial Auto Insurer in America*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience – There are several ways to get a quote whether you need a single Ohio policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.
Business insurance for all Ohio cities
We can customize business insurance in all Ohio cities, including, but not limited to:
*No. 1 commercial auto insurer from SNL Financial’s 2019 national written premium data.