These insurance policies defend Maryland small business owners against common lawsuits and other top risks.
A general liability policy covers common third-party risks for small businesses in Maryland, including slip-and-fall injuries. Commercial leases often require this coverage.
This policy is also called E&O insurance or professional liability insurance. It helps pay for legal defense costs related to mistakes, missed deadlines, and oversights.
This type of insurance protects Maryland businesses against lawsuits related to the quality of their professional services or advice. It's sometimes referred to as errors and omissions insurance.
A BOP bundles commercial property insurance and general liability coverage at a discount. It's often the most cost-effective type of commercial insurance.
Workers’ compensation insurance is required for all Maryland small businesses with full-time or part-time employees. It can cover medical costs for work injuries.
This policy protects Maryland businesses against financial losses from data breaches and cyberattacks. It’s also called cyber liability insurance or cybersecurity insurance.
This policy is required for vehicles owned by Maryland small businesses. It helps cover the cost of an accident involving your commercial vehicle, including lawsuits from other drivers.
A fidelity bond reimburses your clients in the event of employee theft. Your clients may ask you to secure a bond before they will work with your business.
An umbrella policy boosts the coverage of your general liability, commercial auto, and employer's liability insurance. It can help your small business comply with requests for higher liability limits.
Looking for different coverage? Check out our other policies.
State laws can affect which policies you need for your small business. These insurance products are required in the state of Maryland.
Maryland state law requires businesses with one or more employees to carry workers’ compensation insurance.
Workers' comp covers medical bills and disability benefits for employee injuries and occupational illnesses. Most insurance carriers include employer's liability insurance with this coverage, a policy that helps pay for lawsuits from injured Maryland workers.
Because personal health insurance policies won't cover work-related injuries, sole proprietors sometimes choose to buy this coverage to protect against costly medical bills.
Vehicles owned by limited liability companies (LLCs), startups, and other businesses in Maryland must be covered by commercial auto insurance. This policy covers legal costs when your delivery truck or company car is involved in an accident.
Maryland law requires auto liability insurance coverage in the amount of:
Personal, rented, and leased vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.
Business insurance policies can be affordable for sole proprietors and small companies with low risks. Average costs for TechInsurance customers in Maryland include:
General liability: $35 per month
Professional liability / E&O: $73 per month
Business owner's policy: $58 per month
Factors that influence the cost of business insurance include:
The costs from a lawsuit or data breach can overwhelm a small business. Protect against common risks with the right business insurance coverage.
Whether you need coverage to sign a contract, rent an office, or get a license, TechInsurance can help you find the right policies. Our insurance agents are licensed in Maryland and can help you find affordable coverage from top-rated insurance companies.
Get started today by filling out our easy application. You can chat with an agent about your business insurance needs and get answers to any questions. When you're ready, pay for a policy online and get a certificate of insurance (COI) immediately to show clients that your business is protected.
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