Every state mandates which types of commercial insurance that small businesses must have. In Ohio, there are two types of commercial policies that are required for many businesses. If you aren’t sure which are required for you, call us at Smucker Insurance Agency Inc in Plain City, OH.
Workers’ Compensation Insurance
One of the required types is workers’ compensation insurance, often simply called workers’ comp. This is an insurance policy that every Ohio business that has employees must have. It’s required no matter how many employees you have. If an employee were to get sick at work due to something on the premises, or an employee were to become injured, workers’ comp pays for the medical bills that result from this. It can also pay the employee for their lost wages if this is necessary. This is an important type of protection for small businesses, and it ensures that your business won’t have to pay the escalating medical costs for an accident or illness.
Commercial Auto Insurance
If your Ohio business owns any vehicle, that vehicle has to have a commercial auto insurance policy on it. The state has mandatory minimums for how much you have to have in auto coverage. This includes a set minimum for the property damage that you are liable for as well as for the bodily injuries that you’re judged liable for. These can be high costs, and the set minimum amounts in Ohio are relatively low. It is often recommended that you get more than the minimum amount of coverage to make sure that your business is protected.
Get Your Business Protected With Commercial Insurance
Every business owner needs to have certain types of insurance for their company. If you don’t have yours yet, call us at Smucker Insurance Agency Inc. in Plain City, OH.