Ohio Business Insurance FAQ - Quick Answers
While you can't know your exact costs for Ohio commercial coverage without quotes, you can understand what impacts them 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
Ohio business insurance is mandatory for workers' compensation coverage when you have employees, and commercial auto insurance when you have company vehicles. All other policies are not usually required by law but are necessary to avoid financial losses.
Every Ohio business will have different needs when it comes to coverage. However, there are foundational policies that will apply. Here are some policies that business owners commonly choose:
- General liability insurance: Pays for a bodily injury or property damage lawsuit brought against your operation.
- Workers' compensation insurance: Pays for the injuries of an employee who gets hurt or becomes ill on the job. Mandatory when you have one or more employees.
- Property insurance: Covers damage to your business property due to a covered claim.
- Business income insurance: Pays for regular business expenses when a covered loss closes your operation for a period of time.
- Business auto insurance: Pays for a loss resulting from an auto accident with a company-owned vehicle. Must abide by state car insurance laws.
- Professional liability insurance: Pays for a lawsuit against your business due to negligent or harmful advice.
- Commercial umbrella insurance: Provides an additional liability coverage limit over your underlying business policies.
General liability coverage in Ohio is necessary if you want to avoid major loss. Check out what it covers below:
- General liability insurance: Pays for a bodily injury or property damage liability lawsuit brought against your operation.
When your Ohio business needs health insurance, you'll have options through a local independent insurance agent. However, in Ohio you won't have to offer health coverage to your team if you're under 50 employees.
In Ohio, Nationwide, Hanover, and Travelers are rated among the best for commercial insurance. This is due to their superior customer service and coverage offerings that suit your business needs.
Do You Know What Your Business Insurance Covers in Ohio?
Find the Best Insurance in Your City
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
| City | No. businesses | Burglaries / 1,000 people | Auto thefts / 1,000 cars |
| Akron | 3,118 | 8.52 | 2.92 |
| Barberton | 373 | 4.27 | 1.23 |
| Beavercreek | 1,132 | 1.64 | 0.57 |
| Brunswick | 606 | 0.57 | 0.34 |
| Canton | 1,022 | 13.72 | 4.58 |
| Cincinnati | 5,646 | 9.12 | 4.45 |
| Cleveland | 6,582 | 11.29 | 7.28 |
| Cleveland Heights | 582 | 2.38 | 1.47 |
| Columbus | 12,664 | 6.41 | 3.93 |
| Cuyahoga Falls | 1,100 | 1.87 | 0.57 |
| Dayton | 2,069 | 10.92 | 5.32 |
| Delaware | 686 | 2.31 | 0.29 |
| Dublin | 1,765 | 1.19 | 0.5 |
| Upper Arlington | 719 | 1.45 | 0.42 |
- Columbus, OH
- Business Insurance Common Coverage Options
- Property: The property crime rate in Columbus is about the same as the national average. But it's important to recognize that the crime rate in your business's neighborhood impacts how much you pay for property insurance.
- 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 several factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Cleveland, OH
- Business Insurance Common Coverage Options
- Property: Property damage can happen, from a bad storm to unexpected crimes like theft and arson. Whatever the scenario, damage can lead to significant business losses if you do not have the right insurance. When looking at insurance options, keep the crime rate in mind to know how much protection you need.
- Commercial auto: Does your company own a vehicle or two? If so, you will need commercial auto insurance to protect your vehicles and your employees while they're on the road. But auto criminals can also attack without warning, breaking windows and stealing valuables, so keep that in mind when you buy new coverage.
- Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Cincinnati, OH
- Business Insurance Common Coverage Options
- Property: The crime rate in Cincinnati can affect your coverage rates. In addition to property crimes like theft and arson, property damage from intense storms and weather can lead to significant business losses if you do not have the right insurance.
- Commercial auto: Your commercial auto insurance rates will be based on several factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Akron, OH
- Business Insurance Common Coverage Options
- Property: Your property can be damaged in several ways. A pipe can burst and cause flooding; a winter storm can damage the roof, or a criminal can break in. These situations can lead to severe business losses if you do not have the right insurance.
- 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 several factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Dayton, OH
- Business Insurance Common Coverage Options
- Property: Property crimes in Dayton can happen when you least expect it. The right property insurance is necessary for your operation.
- Commercial auto: Do you know how commercial auto insurance is calculated? Your rate will be based on several unique factors, such as the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Parma, OH
- Business Insurance Common Coverage Options
- Property: Severe weather, a burst pipe, and property crimes like theft and arson can lead to significant business losses if you do not have the right insurance. But there are a few risks you may not think about often.
- 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 several factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Canton, OH
- Business Insurance Common Coverage Options
- Property: In addition to severe weather events, property crimes like theft and arson can lead to significant business losses if you do not have the right insurance.
- Commercial auto: Depending on your industry and business, you might need commercial auto insurance. But your rate will be uniquely yours, based on the number and types of vehicles you are covering.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Lorain, OH
- Business Insurance Common Coverage Options
- Property: Severe weather, a burst pipe, and property crimes like theft and arson can lead to significant business losses if you do not have the right insurance. Just take a look at the crime rate in the area. It's a risk you may not think about often, but something your insurance should care about.
- Commercial auto: You know that the number and types of vehicles you cover will impact how much you pay for commercial auto insurance. But what about the risk of collisions and auto theft in your city? That counts too. It will all be considered so you can find comprehensive and customized protection.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Springfield, OH
- Business Insurance Common Coverage Options
- Property: The crime rate in Springfield can affect your coverage rates. Since this number is relatively high, you're likely to pay a little more than average for a business insurance policy. You can become adequately insured when you know the facts and the risks you face as a Springfield business.
- Commercial auto: Depending on your business, you may need commercial auto insurance. It's necessary coverage, considering that you can't control other drivers and that auto-related criminal activity is higher than average in the area.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.
- Hamilton, OH
- Business Insurance Common Coverage Options
- Property: The Hamilton area is generally a safe place. However, criminal activity can happen when you least expect it, and thieves can cause emotional, physical, and financial damage to you, your property, and your business.
- 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 several factors, including the number and types of vehicles you are covering and the risk of collisions and auto theft in your city.
- Workers’ compensation: This pays for medical bills and lost wages for workers who get injured or become ill on the job. It is required for most Ohio employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.