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Small Business Insurance in Ohio

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Recommended insurance policies for small businesses in Ohio

General liability insurance

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General liability covers common risks for small businesses in Ohio, including customer property damage and injuries. Commercial leases often require this policy.

  • Customer injuries at your company
  • Damaged customer property
  • Copyright and defamation lawsuits

Errors and omissions insurance

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This policy is also called professional liability insurance. It protects professionals against lawsuits over mistakes, missed deadlines, and oversights.

  • Work errors and oversights
  • Professional negligence lawsuits
  • Late or incomplete work

Cyber liability insurance

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This policy protects Ohio small businesses against data breaches and cyberattacks that affect your business or a client.

  • Data breach lawsuits
  • Client notification expenses
  • Fraud monitoring costs

Business owner’s policy

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This policy bundles property insurance and general liability insurance. It's often the most cost-effective type of commercial insurance for an Ohio small business.

  • Customer injuries
  • Damaged customer property
  • Damaged business property

Workers’ compensation

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Ohio requires small businesses with at least one full-time or part-time employee to purchase workers’ compensation through the state fund. This policy covers medical costs for work injuries.

  • Employee medical expenses
  • Disability benefits
  • Physical and occupational therapy

Commercial auto insurance

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This policy is required for vehicles owned by Ohio small businesses. It covers injuries and property damage in an accident, along with other types of damage.

  • Accidents involving business-owned vehicles
  • Theft of a business-owned vehicle
  • Damage to a company vehicle

Looking for different coverage? Check out our other policies.

What are the insurance requirements for small businesses in Ohio?

State laws can affect which policies you need for your small business. These policies are required for Ohio businesses.
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Workers' compensation insurance

Ohio state law requires businesses with at least one employee to purchase workers’ compensation insurance. This policy covers medical bills for work injuries and illnesses.

Ohio is one of four states that operates a monopolistic state fund for workers' compensation. That means employers cannot buy workers' comp from private insurers, only from the state fund.

Policies purchased through the state fund do not include employer's liability insurance, which provides financial protection against employee injury lawsuits. However, you can still purchase it through a private insurance provider.

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Commercial auto insurance

Vehicles owned by small businesses in Ohio must be covered by commercial auto insurance. Ohio requires a minimum of $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident, and $25,000 property damage liability per accident.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance, as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.

How much does small business insurance cost?

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Commercial insurance can be affordable for a small Ohio company. Factors that influence the cost include:

  • Your industry and risk
  • Coverage limits
  • Location
  • Number of employees
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We specialize in business insurance for Ohio IT and technology professionals

Our agents are experts in insurance for Ohio technology businesses. They can help you find policies that fit your company and fulfill state requirements. TechInsurance is licensed by the Ohio Department of Insurance as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance and for surplus lines (license number 41170). Verify our licensure by using the Ohio Department of Insurance Agent / Agency Locator. Search for business entities, then enter our license number.