Choose The Hartford for Your Ohio Business Insurance Needs
In 2015, Ohio saw significant economic growth; the state economy grew at a rate of 2.3% coming in faster than the US economy which grew at a rate of 1.9%.1
Small businesses have had a significant part in this economic growth, creating 11,689 net new jobs in 2015 and employing nearly 2.1 million people total. It is critical that these small business owners understand the business insurance
options available to them to best protect their businesses and employees in case of an accident or claim. The Hartford has been providing small businesses insurance
in Ohio for over 100 years and can provide your business with a variety of options to ensure that you are protected. See below to learn more about business insurance in Ohio.
Types of Ohio Business Insurance Offered
Business Liability Insurance in Ohio
Business Liability Insurance
protects your business from claims involving bodily injury, personal property damage, and advertising injury. The Hartford includes Business Liability Insurance and Business Property Insurance in our Business Owners Policy Insurance plan which also protects your business from property damage claims resulting from fire, theft, or other disasters. A Business Owner’s Policy is one of the best insurance solutions for a business owner because it provides broad coverage and can be customized to fit the specific needs of your business by adding on things like Data Breach Insurance or Errors and Omissions Coverage. Consider a Business Owner’s Policy with The Hartford if:
There is a possibility you could be sued for a customer getting injured at your workplace.
Your business operates out of a physical location where property damage could take place.
You have essential equipment or other property that could be stolen or damaged.
Ohio Business Income Insurance
Business Income Insurance
in Ohio helps protect your business by helping to replace lost income, cover payroll, and cover other expenses if your business is forced to cease operations due to a covered loss or damage. It is included as part of a Small Business Owner’s Policy (BOP) from The Hartford and cannot be purchased as stand-alone coverage. This coverage is available with a BOP from The Hartford and can be crucial to a business owner in their time of need; it can really help makes ends meet while you get back on your feet and in full operations. Most small companies can benefit from Business Income Insurance. Consider a BOP with Business Income insurance for your business if:
Your business requires specific equipment to operate that is not easily replaceable if damaged and could stop or slow your business operations for weeks or months.
Your business relies on a physical location to provide services (like a hair salon or spa) that would be stopped in the event of a fire at the site.
Your overhead for rent, payroll, and other bills is expensive, and you would not be able to cover it without a month of revenue.
Home-Based Business Insurance Ohio
Home-Based businesses are becoming more and more popular in Ohio with the rise of start-ups and new business owners wanting to keep their overhead low. Home-Based Business Insurance
can be added to a Business Owners Policy from The Hartford to help protect those business owners operating businesses out of their homes. Home-Based Business Insurance can help cover claims resulting from property damage, employee injuries, client injuries, data loss, and potential lawsuits. Consider Home-Based Insurance with The Hartford if:
You have customers who come to meetings at your home.
You keep sensitive client information and records on your home computer.
You have employees who work out of your house.
If you could lose business income if your home was damaged.
Data Breach Insurance Ohio
Lots of Ohio businesses use software and cloud storage to store intellectual property, sensitive customer information, company data, and more. There is always the risk of that data being stolen or illegally shared whether intentionally or accidentally. Data Breach Insurance
can help protect your business in cases like these. Data Breach Insurance helps cover liability and privacy issues, legal fees, public/ crisis communications, and identity protection solutions. In the event of a cyber-attack, it is crucial that a business operates swiftly and restores security immediately, so their customers continue to trust them. Data Breach Insurance with The Hartford can also help your business assess potential data breach risks and advise you on policies and security measures you can implement to prevent them. For example, consider purchasing Data Breach Insurance with The Hartford to help protect your business from the following,
A hacker breaks into your network and steals your customer’s bank account numbers and social security numbers.
Your intellectual property is stolen, and competitors gain access to it.
You store sensitive customer information on third-party software, and it temporarily shuts down, cutting off your access to it.
Ohio Minimum Business Insurance Requirements
There are a number of resources for business owners looking to learn more about business insurance in Ohio. The Department of Insurance
in Ohio governs and regulates all insurance policies sold in the state and can help your business if you have questions about an insurance agency or your perspective policy. Also, the Ohio Small Business Administration
has helpful, unbiased information about what types of insurance to buy
on their website. The Hartford has been helping protect small businesses in Ohio for nearly 200 years and can assist you in your search for protection.
Additional Ohio Business Insurance Links
Get a quote
on Small Business Insurance for your business today.