Ohio business owners need to consider different types of insurance policies in order to protect themselves from a wide range of accidents at work. Slips and falls, property damage, and injuries to employees are just a few incidents that could lead to debts which can threaten the financial stability of a company.
According to the Small Business insurance Ohio Administration, there are more than 989,000 small business insurance Ohio. This represents 99.6% of all businesses in Ohio. To protect their cash flow, assets and livelihoods, each business should be adequately insured.
The InsureDirect Advantage Business Program offers general liability, business owners policies (BOP), and professional liability. We can help you create a policy for Ohio that suits your needs.
Ohio Business Insurance Requirements
Ohio law requires that all businesses with employees carry “workers compensation” coverage. Businesses can choose to self-insure or purchase coverage through the state insurance fund. Ohio’s laws are unique in that they prohibit business owners from buying coverage through private insurers. Find out more about Workers’ Compensation Insurance in Monopolistic States.
State law does not require you to purchase other insurance policies, such as general liability, BOP, and professional liability. However, they are important for protecting your livelihood in the event of an unexpected accident. Clients and landlords often require that you have specific business coverages before they will hire you.
Ohio Business Insurance Types
General liability insurance protects you from:
- Bodily Injury
- Damage to personal property
- Reputational harm
Our Business Owner’s Policy (BOP) combines business liability and business insurance Ohio property into one policy. This policy protects your business against property damage claims due to fire, theft or other disasters.
The policies that are part of a BOP include:
- Commercial Property Coverage
- General Liability Insurance
- Business Income Coverage
A Business Owner’s Policy offers a wide range of coverage that can be tailored to your needs. You can customize your BOP by adding policies such as data breach coverage or errors and omissions insurance.
Small Business Insurance Ohio
InsureDirect may not be listed specifically, but there are several services and options that can help you get the coverage needed for your small business in Ohio. InsureDirect is a reputable provider of small business insurance in Ohio.
Insurance Types Available:
- General Liability Insurance : Covers third-party risks like bodily injury, property damage and advertising injuries.
- Commercial Auto Insurance : Required for vehicles owned by businesses, covers accidents, theft and vandalism.
- Business owner’s policy (BOP): Combines general liability insurance and commercial property coverage (Business Insurance Ohio) for cost-effective protection.
- Commercial Property Insurance Protects your physical assets against events such as fire, theft and weather damage.
Ohio Small Business Insurance
You can get a quote on small business insurance Ohio from our InsureDirect website by visiting several platforms. We offer coverage options that are tailored for small businesses.
get a quote contact usBusiness Liability Insurance Ohio
Business Liability Insurance is the basis of most business insurance portfolios. The policy is also known as Commercial General Liability Insurance or General Liability. It protects most businesses against liability exposures with the exceptions of professional services and autos.
Business Insurance Ohio is the best way to protect your assets. Business Liability Insurance covers your business against damages resulting from bodily injury and property damage, for which you are legally responsible.
You may also need to purchase an auto insurance policy or even multiple liability policies.
What does business liability insurance in Ohio cover?
Business Liability Insurance policies typically cover bodily injury, other physical injuries, advertising injury, and property damage resulting from your products, premises, or operations. This policy is available as part of a package that includes other coverages, such as property, crime, automobile, and others.
Business Liability Insurance provides you with a way to protect yourself against claims of negligence and wrongdoing, whether they are true or not. Business Liability insurance policies cover the costs of defending and settling claims.
Below is more information on what a typical insurance policy might cover