Ohio Home-Based Business Insurance

Get Your Quote

Or call for your free quote:

Get the best OH small business insurance quotes online & info on cost, coverage, minimum requirements, certificates & more.

Ohio Home-Based Business Insurance Policy Information

OH Home-Based Business Insurance

Ohio Home-Based Business Insurance. More and more people are discovering the benefits of owning their own home-based businesses. Many people edeoy small in-home businesses because it allows them to work part time, arranging their schedules around the needs of their children or other jobs.

Other people may decide to go into business full time. No matter the type of business, Ohio home-based business insurance is an essential and smart component required for businesses of all sizes. Just because you are home based doesn't mean that someone won't sue you!

Ohio home-based business insurance protects you from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.

Business insurance policies protect small Ohio home-based businesses from damage or loss of equipment and merchandise and from the fallout of potential claims of liability against the business.

There are roughly 38 million businesses operated out of people's homes across the United States. Every 12 seconds, a new business starts up, and around 7 out of 10 businesses based out of the home are operations three years down the road. There is more than $425 billion dollars in revenue generated by U.S. businesses each year. Around 2 out of 10 home businesses take in more than $100K per year.

What Are Some Insurance Coverage Types For OH Home-Based Businesses?

Just as there are a vast array of home-based businesses, there are a number of different avenues for getting business insurance coverage. Some of the most common are:

  • Renters or homeowners policies. The purchase of an addendum on a renters or homeowners policy is often all the coverage a true small home-based business needs. For OH small businesses that do not have a lot of inventory or equipment that requires coverage, this may be the best route. Oftentimes businesses of this nature can find coverage for just a few dollars a month with a rider on their basic renters or homeowners policy. However, this type of coverage does not afford the business any protection from liabilities, so if the business is one that may face liability claims, this option may not be sufficient for their needs.
  • Home business policies. For medium-sized OH home-based businesses with assets from $2,500 to $10K or for businesses that may face claims for ideuries, poor work quality, or property damage, a Ohio home-based business insurance policy is an essential purchase. Usually very affordable, this policy provides around $10K in coverage for property and $1 million in coverage for liability claims.
  • Commercial insurance policies. A OH commercial insurance policy is the right policy for large home-based business ventures that require a substantial coverage level for many assets. This type of policy usually offers several options when it comes to liability protection, including negligence and malpractice insurance. It may afford millions of dollars to cover property damage or loss.

Why Does Your Home-Based Business Need Insurance Coverage?

Business insurance policies protect home-based businesses in OH from financial loss. Although risks vary widely according to the industry in which you do business, some potentials for loss include:

  • Damage to a substantial amount of inventory stored at home. Damage may result from fire or theft, with the potential to cost the business owner a great deal of money.
  • Claims against the business for a client's financial loss due to “errors and omissions” on the part of the small business.
  • Claims arising from illness or injury as a result of a product your business demonstrates or showcases.
  • Claims against the business brought about by damage you or employees do to a client's property.

These are just a few scenarios. There are an unlimited number of ways that OH businesses may find themselves on the receiving end of a lawsuit or claim, and business insurance provides a buffer for the business to prevent financial ruin.

What Coverage Does Ohio Home-Based Insurance Provide?

Although policies vary and are customizable based on the business' needs, most provide for:

  • Liability. Liability coverage guards against loss due to liability claims against the OH home-based business. Liability coverage amounts range from $300K to $1 million.
  • Property coverage. Home-based business property coverage shields the business from damage or loss to business equipment and other assets.
  • Loss of income coverage. This protection helps the business maintain its finances in the event of a work stoppage. Policies generally provide the money needed to pay employees and handle the business' bills for a year.
  • Directors and officers liability coverage. When an officer or director of a company is named in a legal suit, D&O, or directors and officers coverages, protects the company from liability.

Other coverage may be available, dependent on the home based business' needs.

Home-Based Businesses That Can Get Small Business Insurance

These home based businesses types might be eligble for a commercial insurance policy - if they need more coverage than a homeowners policy offers or provides:

  • Abstracting and indexing service
  • Accounting service
  • Adjuster/Independent claims adjuster
  • Adjuster/Public claims adjuster
  • Administrative support service
  • Advertising agency/Advertising specialty items sales
  • Answering service
  • Antique gallery shop
  • Appraisal service (non real estate)
  • Antique gallery/Art studio
  • Artists supplies
  • Association management service
  • Auctioneers (away from insured's premises)
  • Audit service (non-financial)
  • Background checking/Screening service
  • Bakery
  • Balloon art
  • Barber supplies
  • Barber
  • Beautician
  • Beauty supplies
  • Billing service
  • Book/Magazine distributor
  • Bookbinding
  • Bookkeeping service
  • Calligraphy
  • Camera/Photography sales or repair
  • Candle sales (excluding sales of candles made by individuals )
  • Candy/Nut confections
  • Car detailer
  • Cell phone/Pager sales
  • Ceramics
  • Clock or watch repair
  • Clowns, magicians, entertainers (excluding bands)*
  • Coaching service
  • Computer repair
  • Computer sales
  • Computer service bureau
  • Cosmetic sales (Avon, Mary Kay, etc.)
  • Computer repair
  • Computer sales
  • Court reporter
  • Crafts (excluding manufacturing/distribution of candles made by individuals)
  • Damage appraiser
  • Dance instructor
  • Database management
  • Desktop publishing
  • Disc jockey
  • Draftsmen
  • Dry food products/Mixes vendor
  • Editorial service/Proofreader
  • Education consultant
  • Embroidery
  • Employment agency
  • Engraving
  • Financial planning (exclude discretionary trading authority and/or access to customer funds)*
  • Floral arrangement
  • Food broker
  • Food supplements/Vitamins
  • Fund raising service
  • Furniture refinisher
  • Games puzzles vendor
  • Genealogist
  • Gift delivery service (balloons, gift baskets, etc...)
  • Gift Shop (excluding manufacturing/distribution of candles made by individuals)
  • Glassware
  • Grant writing service
  • Graphic artist/Designer
  • *Not eligible for Professional Liability coverage:
  • Handicrafts (excluding manufacturing/distribution of candles made by individuals)
  • Hearing aid sales
  • Hobby and model supplies (excluding explosives and propellants)
  • Household products (Amway, Fuller Brush, etc...)
  • Information search retrieval
  • Insurance agent
  • Insurance inspector
  • Insurance risk manager
  • Interior decorating
  • Interior window treatments
  • Interpreter
  • Inventory control specialist
  • Jewelry (Costume)
  • Kitchen supplies (Tupperware, etc...)
  • Ladies and girls clothing and accessories
  • Leather goods
  • Lingerie
  • Loan origination service
  • Management consultant
  • Manufacturers representative
  • Market research
  • Marketing consultant
  • Mediator
  • Medical claims processing/Transcriptionist
  • Men's and boy's clothing and accessories
  • Model
  • Monogramming
  • Mortgage field inspection
  • Musical instrument sales/Repair
  • Newspaper/Magazine/Book delivery
  • Notary public
  • Office supplies vendor
  • Paper goods
  • Paralegal
  • Personal care products
  • Personal fitness trainer
  • Personalized books and gifts
  • Photographer
  • Picture framing
  • Prepaid calling card vendor (excluding sales from vending machines)
  • Print broker
  • Printer
  • Professional organizer
  • Professional speaker
  • Publisher
  • Real estate agent
  • Registered agent
  • Religious goods
  • Resume service
  • Retail toy sales
  • Rubber stamp business
  • Scrapbooking
  • Secretarial service
  • Shoe repair
  • Sign painting
  • Stationary
  • Stenciling
  • Tailoring, alterations, seamstress
  • Tax preparer
  • Taxidermist
  • Teacher/Tutor (except sports, physical education, industrial or martial arts)
  • Telemarketing, telephone solicitation
  • Toner cartridge recharging
  • Training specialist/Seminar conductor
  • Transcribing/Court reporter
  • Translator
  • Travel agent
  • Trophy sales
  • TV/VCR repair
  • Upholsterer
  • Video and music Sales/Rental
  • Videotaping, dubbing, editing
  • Vinyl/Leather repair
  • Wedding and party planner
  • Wedding cake and/or cookie sales
  • Wood furniture crafter
  • Wood products (excluding toys and furniture making)
  • Word processing
  • Writer/Author

Ohio Economic Data, Regulations & Commercial Insurance Minimum Requirements

Made In Ohio

If you're an entrepreneur, you know how important it is to research the location where you plan on setting up shop. No matter how how-quality and valuable the products and/or services your business offers may be, if you're situated in an area that isn't suitable for your operation (the wrong target demographic, a poor market, etc.), you just aren't going to achieve the success that you're hoping for.

If you're considering Ohio for your headquarters or for a new branch of your business, you definitely want to take the time to research the area before you set up shop. Below, we'll take a look at the economic trends of the Buckeye State, including employment rates and key industries that are thriving in the area. We'll also highlight some of the key forms of commercial insurance business owners need to carry when operating in Ohio.

Economic Trends for Business Owners In Ohio

The Buckeye State has seen a marked increase in job growth, which is indicated by the record low unemployment rate. According to the Ohio Department of Job and Family Services, as of April, 2019, the rate of unemployment was 4.3 percent; the lowest it's been in more than 18 years. In April the previous year, the rate was 4.6 percent, a difference of .03 percent in 1 year; however, and more notably, the rate has dropped .01 percent in just one month, as it was 4.4 percent in March, 2019. July, 2001 was the last time Ohio saw such a low level of unemployment, when the rate was 4.2 percent.

In January, 2010, the rate was an astounding 11.1 percent, so it's safe to say that there has been a definite decrease in the number of jobless people in the Buckeye State, which is a strong indication of the overall economy of the state.

The greater Cincinnati area is one of the best places for businesses in Ohio, where smaller cities are seeing the largest growth. Examples include Blue Ash, Beachwood, Independence, Sharonville, and Springdale. Industries that are thriving in Ohio include:

  • Advanced Energy and Environmental Technologies
  • Aerospace and Aviation
  • Automotive
  • Bioscience
  • Information Technology
  • Logistics and Distribution
  • Manufacturing
  • Oil and Gas
Business Insurance Regulations In OH

The Ohio Department of Insurance regulates insurance in Ohio. Certain policies are mandated in Ohio, meaning business owners must carry specific types of coverage. Business owners can protect themselves, the customers they serve, the vendors they work with, and their workers from various risks by investing in the right type of insurance coverage. Coverages that are required include:

Workers Compensation - Most Ohio businesses with employees are required to pay for workers comp. If your OH business has just one employee, you're probably required to carry workers' compensation insurance. In Ohio, workers' compensation insurance is provided through the state - rather than through private insurance companies.

Other forms of insurance that business owners may be required by contract or municipality. The amount of coverage business owners need to carry for each policy vary and depend on a variety of factors, including the size of the operation, the number of employees, and the nature of operations.

Additional Resources For Small Business Insurance

Protect your company and employees with the right commercial insurance policies. Read informative articles on small business insurance coverages - and how they can help shield your company from legal liabilities.


Small Business Commercial Insurance

Your small business faces many potential disasters including: fire, floods, theft, equipment breakdown, lawsuits from clients or customers and current & former employees. Any many other risks you haven't even thought about.

A small business commercial insurance program should provide protection for both larger and smaller disasters. The obvious things like fire, flood and theft most business owners think about... but what if a hacker infects your computers with a virus - and files containing private customer information like credit card and Social Security numbers are stolen?

Who is going to pay to fix your customers credit rating etc...? Will your insurance pay for the cost? You need to know that.

Your commercial insurance program should cover events that can close down your company, or cause it to lose revenue. Anything less than that is not enough coverage. Commmercial insurance doesn't cover everything, and all policies have exclusions and limits.

You need a written plan that allows you to get your operations back up and running as quick as possible.


Request a free Home-Based Business Insurance Ohio quote in Adel, Algona, Altoona, Ames, Anamosa, Ankeny, Asbury, Atlantic, Bettendorf, Akron, Alliance, Ashland, Ashtabula, Athens, Austintown, Avon, Avon Lake, Barberton, Beavercreek, Berea, Boardman, Bowling Green, Broadview Heights, Brook Park, Brunswick, Canton, Centerville city, Chillicothe, Cincinnati, Cleveland, Cleveland Heights, Columbus, Cuyahoga Falls, Dayton, Delaware, Dublin, East Cleveland, Eastlake, Elyria, Euclid, Fairborn, Fairfield, Findlay, Forest Park, Gahanna, Garfield Heights, Green, Grove City, Hamilton, Hilliard, Huber Heights, Hudson, Kent, Kettering, Lakewood, Lancaster, Lebanon, Lima, Lorain, Mansfield, Maple Heights, Marion, Marysville, Mason, Massillon, Mayfield Heights, Medina, Mentor, Miamisburg, Middletown, New Philadelphia, Newark, Niles, North Canton, North Olmsted, North Ridgeville, North Royalton, Norwood, Oregon, Oxford, Painesville, Parma, Parma Heights, Perrysburg, Pickerington, Piqua, Portsmouth, Reynoldsburg, Riverside, Rocky River, Sandusky, Shaker Heights, Sidney, Solon, South Euclid, Springboro, Springfield, Steubenville, Stow, Strongsville, Sylvania, Tallmadge, Tiffin, Toledo, Trotwood, Troy, Twinsburg, Upper Arlington, Wadsworth, Warren, Westerville, Westlake, White Oak, Whitehall, Willoughby, Wooster, Xenia, Youngstown, Zanesville and all other cities in OH - The Buckeye State.

Also learn about Ohio small business insurance requirements for general liability, business property, commercial auto & workers compensation including OH business insurance costs. Call us (614) 407-1774.

Home Based Business Insurance
Rated 4.8/5 based on 115 reviews
Free Business Insurance Quote Click Here