Business Insurance in Maryland FAQ - Quick Answers

You won't know your exact business insurance costs without obtaining quotes. However, you can see what carriers look for when rating your Maryland coverage below:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

In Maryland, you are required to carry workers' compensation insurance when you have just one employee or more. You'll also need to obtain the minimum limits of liability for any company-owned autos. Any other policies will be optional in most cases.

Business insurance coverage in Maryland varies from entity to entity. However, these are some common policies that could apply to your business:

In Maryland, you will have several liability policy options when you own a small business. Some of the most common are below:

Yes. You can obtain health insurance for your small business through a licensed independent insurance agent. If you have under 50 employees in Maryland, you are not required to offer health coverage to your staff, but you can talk to an independent agent about obtaining this coverage if you think it is beneficial for you. 

There are numerous carriers where you can obtain small business insurance, but that doesn't mean they're all equal. In Maryland, Hanover, Stillwater, and Nationwide insurance companies come highly rated by peers. This is due to their superior claims service and custom coverage options.

Do You Know What Your Business Insurance Covers in Maryland?

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National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. of businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars