Popular QuestionsPopular Questions About Maryland Business Insurance

Why Should I Have Maryland Business Insurance?

In 2018 small businesses in Maryland made $149.6 billion. If you don't have the right kind and amount of insurance protection, business claims will have to be paid out of your pocket. That means your business’s revenue will take a big hit. One way to avoid that is by having comprehensive commercial insurance with an independent insurance agent.

How Have Other Business Owners Used Their Business Insurance?

40% of small businesses are likely to experience a property or general liability claim in the next 10 years. Here are some things these companies have been using their insurance on:

  • Theft Or Burglary: Average Cost Per Claim - $8,000
  • Water Damage & Freezing Pipes: Average Cost Per Claim - $17,000
  • Wind & Hail Damage: Average Cost Per Claim - $26,000
  • Fire Damage: Average Cost Per Claim - $35,000
  • Customer Slip & Fall: Average Cost Per Claim - $20,000
How does Maryland business insurance help me?

Accidents happen. If a lawsuit, E&O claim or workers' comp issues comes your way, Maryland business insurance will pay for covered claims so your business doesn’t have to.

Here’s what a standard business insurance policy should do:

Pay For Damage To Your Building

  • We call this “Commercial Property Insurance.”
  • Example: A tree falls on your office building.

Pay For Damage To Your Business Property

  • We call this “Business Personal Property Insurance.”
  • Example: A fire destroys all your computers.

Pay For Damage To Someone Else’s Property

  • We call this “General Liability Insurance.”
  • Example: A contractor does a poor job of installing a cabinet, resulting in its falling and breaking homeowner's kitchenware.

Pay For Someone Else’s Medical Bills

  • We also call this “General Liability Insurance.” 
  • Example: A customer slips and falls on your recently mopped floor and breaks an arm.

Pay For Accidents in Company Vehicles

  • We call this “Commercial Auto Insurance.”
  • Example: Your salesperson rear-ends someone while driving to an appointment.

Pay For Employee Injuries & Compensation

  • We also call this “Workers' Compensation.”
  • Example: An employee falls off a ladder at work and can’t work for two weeks.

Take note: Sometimes, these coverages are not enough to properly protect a business against risk. Your business is unique and most likely faces its own unique risks. You may need additional coverages or increased liability limits as a result.

To make sure you're properly insured, we can match you with the right independent insurance agent who specializes in your field.

What Insurance Does Maryland Require for Business?

A commercial insurance policy is not required of business owners, but certain aspects of it may be. In Maryland, businesses that employ one or more people must carry workers' compensation insurance. 

And businesses that have company-owned vehicles must carry commercial auto insurance. To learn more about coverage that you may need to carry, you can talk with a local independent insurance agent.

How Much Does Maryland Business Insurance Cost?

It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples.

  • A sole proprietor who owns a garment hemming business: $260 per year
  • A commercial landscaper with five employees who operate heavy machinery: $22,700 per year
How Do I Find the Best Business Insurance in Maryland?

Business insurance rates are calculated using a number of factors such as the risks to your business property, your liability coverage needs and the amount and types of coverage you want. Policies can vary significantly by business industry, so it is best to talk with an experienced insurance agent when building a suitable and comprehensive policy for your business.

It’s usually wise to work with an independent agent in Maryland since they have access to multiple insurance companies. Sometimes its difficult to find an insurance company who will cover your business.

  • There are 205 independent agents in Maryland who are ready to help.
  • In 2017 our agents helped 3,077 people.
What Are the Top Business Insurance Companies in Maryland?

An independent insurance agent compares policies from multiple companies to find the best coverage for your needs.

liberty mutual insurance
foremost insurance group
westfield insurance
cna insurance

InformationFind the Best Insurance in Your City

How Does Your City Measure Up?

  • Number of businesses in the U.S.: 27,626,360
  • Number of businesses in Maryland: 531,953
  • Burglary rate per 1,000 residents in the U.S.: 4.69
  • Burglary rate per 1,000 residents in MD: 4.10
  • Auto theft rate per 1,000 vehicles in the U.S.: 2.37
  • Auto theft rate per 1,000 vehicles in MD: 1.97


CityPopulationNumber of Established FirmsBurglary Rate Per 1,000 ResidentsAuto Theft Rate per 1,000 Vehicles
Baltimore614,66450,73511.107.19
Columbia99,61510,6444.082.80
Waldorf67,7525,2613.871.22
Glen Burnie67,6395,2856.428.89
Frederick70,0606,8973.050.58
Rockville66,9409,5891.230.97
Bethesda60,85810,7132.321.12
Gaithersburg67,7767,4152.400.97
Bowie58,3935,7182.050.79
Hagerstown40,4523,7409.002.77
Elkton15,7441,42810.461.65
Aberdeen15,6121,0993.890.59
Annapolis39,4185,4264.541.50
College Park32,2751,8894.271.64
Salisbury33,1142,6107.911.42
Laurel25,8533,2254.433.31
Greenbelt23,9092,5705.443.51
Cumberland19,9781,55714.330.84
Westminster18,6711,8625.410.75
Hyattsville18,4492,0656.773.47
Takoma Park17,7652,5746.852.67
Easton16,5502,2934.760.48
Cambridge12,4681,06911.131.89
Havre de Grace13,5279873.890.51


Baltimore, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: The property crime rate in Baltimore is higher than the national average — likely because it's a metropolitan area. And property insurance in less safe areas can sometimes be more expensive, so keep that in mind when you're looking at insurance options.

Commercial Auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Baltimore, MD workers comp cost looks like.

  • Educational Services Industry, $370/year 
  • Retail Trade Industry, $1,160/year 

These may be the three most common industries in the area, but they have very different insurance needs. An employee at a construction site needs much more workers' comp coverage than an employee in a classroom. That's why workers' comp insurance rates differ from one another — and why you need to talk to a local independent insurance agent about your needs.

Columbia, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: In addition to severe weather events, property crimes like theft and arson can lead to large business losses if you do not have the right insurance. The crime rate in Columbia can also affect your coverage rates, so your coverage may be more expensive than in other areas.

Commercial Auto: Your commercial auto insurance rate depends on a variety of factors, such as the number of vehicles you are covering and the risk of vehicular theft in your city. Do some research so you know what risks you're up against and how much protection you need.

Workers’ Compensation

Every business insurance policy comes standard with workers’ compensation insurance. If the workers’ compensation cost for your business is higher than average, this could add to your overall business insurance cost. 

Based on a $100,000 annual payroll, here is what the two leading industries in Columbia, MD workers comp cost looks like.

  • Professional, Scientific, Technical Services Industry, $370/year 
  • Public Administration Industry, $280/year 

Workers' compensation coverage rates are based on job risk and a myriad other factors. It's unique and something you need good advice on, which is why we suggest you talk to an independent insurance agent to learn more.

Waldorf, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: A number of unexpected events could cause financial and emotional stress to your business. That's why you need the right insurance and limits in place to keep you protected for whatever may come your way — like a property crime or theft, for instance.

Commercial Auto: This auto theft rate impacts how much you pay for commercial auto insurance. But so do various other factors like how many cars you're insuring as well as their makes and models. If you're looking for insurance that covers all your risks, talk to an independent insurance agent.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Waldorf, MD workers comp cost looks like.

  • Public Administration Industry, $280/year
  • Construction Industry, $4,520/year 

Workers' compensation coverage is based on each job and the risk its duties present to an employee. It's why these rates differ from one another and why a construction company will pay more for coverage than a public administration office. Make sure your business and employees are protected if something goes wrong and an injury or illness takes place.

Glen Burnie, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: Did you know that your insurance should cover property crimes like theft and arson? Since the crime rate in Glen Burnie can affect your coverage rates, it's important to know what you're up against and how likely it is you will be affected.

Commercial Auto: Glen Burnie is generally a safe community, but accidents and criminal acts can happen when you least expect it. So, keep that in mind when you're looking to protect your company cars. 

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Glen Burnie, MD workers comp cost looks like.

  • Retail Trade Industry, $1,160/year
  • Construction Industry, $4,520/year 

If you're confused about why these rates are different from one another, listen up. Workers' comp coverage isn't a one-size-fits-all kind of protection. It depends on the job site and the kind of risks an employee faces while on the job. That's why coverage is more expensive for a construction company than one in retail. Learn about the differences by talking to your local independent insurance agent.

Frederick, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: Take note: The crime rate in Frederick can affect how much you pay for commercial property insurance. But at the end of the day, you need the right amount of protection for the specific risks you face. Keep this in mind when looking at insurance options with an independent insurance agent.

Commercial Auto: If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance. Your rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Frederick, MD workers comp cost looks like.

  • Retail Trade Industry, $1,160/year
  • Construction Industry, $4,520/year 

These two industries have different insurance needs — especially when it comes to workers' compensation coverage. An employee at a construction site is much more prone to experiencing an injury than someone behind a clothing store counter. It makes sense when you think about it, but walk through the process with an independent insurance agent to feel comfortable with your workers' comp protection.

Rockville, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: Severe weather events, property crimes and unexpected fires can lead to large business losses if you do not have the right insurance. The crime rate in Rockville is higher than average, which could affect your insurance rates. You need to know what risks you face as a business owner in order to get the right amount of coverage to protect yourself against them.

Commercial Auto: Did you know that your neighborhood's crime rate impacts how much you pay for insurance? As a business owner, you need to protect your parked vehicles and your employees while they're on the road. Finding the right insurance doesn't have to be complicated; contact your local independent agent today.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Rockville, MD workers comp cost looks like.

  • Professional, Scientific and Technical Services Industry, $370/year 
  • Construction Industry, $4,520/year 

If you're curious about workers' compensation coverage, take note. Businesses in the professional services industry have much different workers' comp needs than those in public administration. It's all about how much risk an employee faces while on the job or what kind of illness the employee is likely to face as a result of work. Want to know more? Talk to an independent insurance agent.

Bethesda, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: You don't expect it to happen, but when it does, don't you want to be prepared? A criminal act like a break-in, theft or arson can occur in a moment's notice. Get the right property insurance protection with an independent insurance agent.

Commercial Auto: Because Bethesda is so close to Washington D.C., auto owners here can see unexpectedly high theft rates. If your business owns a vehicle or a fleet of vehicles, you will need commercial auto insurance that protects against unique risks and provides enough coverage so you feel peace of mind when it comes to your company cars.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Bethesda, MD workers comp cost looks like.

  • Professional, Scientific and Technical Services Industry, $370/year
  • Public Administration Industry, $280/year

If you're confused about why these rates are different from one another, listen up. Workers' comp coverage isn't a one-size-fits-all kind of protection. It depends on the job site and the kind of risks an employee faces while on the job. That's why coverage is more expensive for a construction or manufacturing company than for one in public administration. Learn about the differences by talking to your local independent insurance agent.

Gaithersburg, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: Do you have the right insurance to protect yourself against property crime? If not, you should contact your local independent insurance agent. A break-in, theft or arson can happen when you least expect it, and you shouldn't have to deal with a financial burden.

Commercial Auto: Whether your business owns a single pickup truck or a fleet of luxury vehicles, you need commercial auto insurance. But remember that your rate is based on numerous factors. The types of cars, your city's auto theft rate and your average usage will impact how much you pay.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Gaithersburg, MD workers comp cost looks like.

  • Professional, Scientific and Technical Services Industry, $370/
  • Public Administration Industry, $280/year 

Workers' compensation coverage is based on each job and the risks its duties present to an employee. It's why these rates differ from one another, and why a company that offers professional services will pay less for coverage than a construction company. Make sure your business and employees are protected from injury or illness if something goes wrong.

Bowie, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: If you have a business in Bowie, you should seriously look at your commercial property insurance. It may not seem like it, but the area has higher-than-average crime rates, which can cause your insurance rates to rise. Get the right coverages at the right limits by talking through your options with an independent insurance agent.

Commercial Auto: Your commercial auto insurance rates will be based on a number of factors, including the number and types of vehicles you are covering and the risk of collisions and of vehicular theft in your city. Make sure you're getting the right insurance at the right price.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Bowie, MD workers comp cost looks like.

  • Public Administration Industry, $280/year
  • Professional, Scientific and Technical Services Industry, $370/year

Want to know why these rates are different from one another? Workers' compensation coverage is based on the inherent injury risk on the job site. That's why someone at a manufacturing plant needs more coverage than a teacher or someone behind a desk. Learn more by talking to your local independent insurance agent, and find the right coverage for your needs.

Hagerstown, MD Business Insurance Cost Factors

Covering Your Business Assets

Property: How can your property be damaged? Severe weather events, property crimes like theft, and unexpected fires, to name a few. But all of these situations can lead to large business losses if you do not have the right insurance. 

Commercial Auto: Does your company own a vehicle or two? If so, commercial auto insurance should be on your mind. But take note: Your rates will be based on a number of factors and will be uniquely designed to meet your unique needs.

Workers’ Compensation

Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most Maryland employers. Every workplace has unique risks and hazards for its workers, which is why worker’s compensation rates vary so significantly depending on your industry.

Based on a $100,000 annual payroll, here is what the two leading industries in Hagerstown, MD workers comp cost looks like.

  • Manufacturing Industry, $3,450/year 
  • Retail Trade Industry, $1,160/year

These may be the most common industries in the area, but they have very different insurance needs. An employee in a manufacturing plant has much more on-the-job risk than an employee behind a counter. That's why workers' comp insurance rates differ from one another — and why you need to talk to a local independent insurance agent about your commercial coverage needs.