Best General Liability Insurance in Ohio (2023)

MoneyGeek ranked Ohio’s top general liability insurance companies by examining crucial factors such as affordability, customer satisfaction and financial stability. Thimble is Ohio's best general liability insurance company, receiving a MoneyGeek score of 90 out of 100. Policies from this provider cost an average of $54 per month for LLCs with 20 employees and $22 per month for sole proprietors without employees.

We also ranked companies based on affordability and found that Next provides Oho’s cheapest general liability insurance for budget-conscious small business owners. Next’s general liability coverage is an average of $25 per month for LLCs with 20 employees and sole proprietors without employees.

When it comes to securing top-notch general liability insurance coverage, Thimble stands out as the best overall company, with an impressive MoneyGeek score of 90 out of 100.

To illustrate the market’s rankings, the table below showcases the rates and MoneyGeek scores for the various companies we analyzed in Ohio, giving you a view into how Thimble excels compared to its competitors.

Next stands out as the most affordable company, offering the lowest average monthly premiums for sole proprietors and LLCs at around $25 per month. To rank these companies, we used an affordability score that combines the monthly costs for sole proprietors and LLCs, with both contributing equally (at a 50% weighting) to the overall score.

While Next is the cheapest insurer on average, specific companies may offer the lowest rates for sole proprietors or LLCs separately.

Nationwide tops the chart as the best employer insurance provider, with a MoneyGeek score of 96 out of 100 and an average monthly cost of $34 for LLCs. We determined this ranking by examining the average monthly price of general liability insurance for LLCs with 20 employees.

Your number of employees dramatically influences the cost of general liability insurance. Smaller businesses with less than 20 employees can expect to pay less than the average rates, while larger firms will likely need to pay a higher premium.

biBERK emerged as the top choice for sole proprietors, securing an impressive MoneyGeek score of 96 out of 100. It has an average monthly cost of $23.

We tailored these rankings to the average sole proprietor without employees. However, rates may be higher for those venturing into riskier industries, such as construction. This discrepancy is due to the increased potential for accidents and liabilities inherent in these types of businesses.

General liability may not be a legal requirement in Ohio, but it can be a good investment. This coverage acts as a safety net, shielding businesses from any financial burdens arising from accidents, injuries or property damage linked to their products, services or operations. By investing in insurance, you're fortifying your business against potential lawsuits and fostering a sense of trustworthiness and credibility among clients and partners, particularly in industries where contracts or licenses require coverage.

In Ohio, businesses are subject to specific business insurance requirements. For instance, workers' compensation insurance is obligatory for companies with any number of employees. This coverage ensures that employees injured on the job receive adequate benefits and protection, ultimately creating a secure and supportive work environment.

Moreover, Ohio requires commercial auto insurance for vehicles utilized for business purposes. The state requires a minimum coverage of $25,000 per person, $50,000 per accident for bodily injury and $25,000 for property damage. This insurance protects businesses from financial liabilities resulting from vehicular accidents, underlining the importance of comprehensive coverage in maintaining a resilient and thriving enterprise.

Securing general liability insurance in Ohio can be prudent for sole proprietors and LLCs. For a policy that includes a $2 million aggregate limit, a $1 million occurrence limit and a $0 deductible, the average monthly cost is $27 for sole proprietors and $51 for LLCs.

The aggregate limit represents the highest sum an insurance company will disburse for claims within a policy's duration. The occurrence limit indicates an insurer’s maximum coverage for a single claim. The deductible refers to the expense that entrepreneurs must pay before their insurance takes over to cover a claim.

General liability insurance costs in Ohio can vary significantly for businesses, depending on several key factors. We outline these factors and their impact on coverage expenses below:

Selecting the most suitable general liability insurance for your business depends on various factors particular to your enterprise. We answered some commonly asked questions to provide valuable insights into navigating this complex process.