Ohio Contractor Insurance: Quotes From $57/mo

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As a contractor, you must protect yourself, your employees, and your business from litigation risk. According to credible statistics, you face a 10% annual risk of being sued and a 33% lifetime risk. 

Purchasing the required Ohio contractor insurance policies is the most effective method to protect against these potential lawsuits. These policies provide essential protection and benefits. 

They include general liability, workers’ compensation, professional liability, and commercial auto insurance. Each policy provides specific protections, including property damage coverage, bodily injury, legal fees, and medical expenses. You can mitigate financial risks and focus on the success and growth of your business by investing in comprehensive Ohio contractor insurance.

Ohio Contractor Insurance Requirements

Below are some of the insurance requirements for general contractor insurance Ohio as mandated by Ohio Department of Insurance:

  • You must have general contractor liability insurance Ohio with a minimum per occurrence coverage limit of $500,000

  • You must purchase a commercial auto insurance policy with a minimum coverage limit of $25,000 per person for bodily injury or death. A minimum coverage limit of $50,000 per accident and $25,000 for property damage liability

  • You must purchase professional liability insurance with a coverage limit that’s deemed sufficient by Ohio’s public authority

  • You must pay a licensing application fee of $25 for you to be insured by a certified Ohio insurance company

  • Provide a certificate of insurance for workers comp insurance for Ohio.


General Liability Insurance for Ohio Contractors

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included


General liability insurance (GLI) that contractors must have before starting major projects. The GLI for Ohio contractors is business insurance that covers your business against the following claims:

  • Advertising injuries lawsuits

  • Copyright infringement lawsuits

  • Reputational harm lawsuits

  • Third-party bodily injuries

  • Third-party property damages


Incidences When You Can Use This Ohio Contractor Insurance

Here are some situations where general liability insurance is useful:

  • When your client or another business entity sues you for copyright infringement

  • When your services cause third-party bodily injuries or property damages

  • When your contractor-related products cause your clients’ bodily injuries or property damages

  • When your customers, your competitors, or any other legal business entity sues you for personal injury or advertising injury


Add-Ons for General Liability Insurance for Ohio Contractors

Insurance companies may offer these an endorsements for a more comprehensive general liability policy:

  • Pollution liability insurance: If your business deals with hazardous materials, you should consider purchasing this add-on. Through this add-on, your business will be protected against any environmental pollution-related claims

  • Umbrella liability insurance: Through this add-on, you will be exempted from any financial responsibility you may be liable for if your primary insurance policy coverage limits get exhausted


Coverage Limits for General Liability Insurance for Ohio Contractors

Your insurer of choice will either pay you $1 million as the coverage limit for each claim or $2M as the coverage limit for all the claims during your general liability insurance for Ohio contractors policy period.


Professional Indemnity Insurance for Ohio Contractors

CoverWallet (Best) NEXT  Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $1,000,000 $1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $2,000,000
Name additional insureds? Yes Yes Yes Yes Yes
Waiver of subrogation included? Yes No Yes Yes No
Deductible  $500 $500 $500 $500 $500


It’s also known as the errors and omissions insurance. This insurance provides you with cover against alleged or actual claims of mistakes or errors done by you or your professional employees during their professional service delivery. For instance, if your employee gets sued due to failure to disclose critical information about the possible health hazards of using a certain building material, then you can use this policy.


Situations When You Can Use This Ohio Contractor Insurance

Professional indemnity insurance can help in the following situations:

  • When your clients sue you for failure to deliver your services at the agreed time

  • When a customer sues you for providing them with a misleading or incorrect professional piece of advice

  • When your customer sues you for committing an act of negligence, a mistake, or an error during service delivery

  • When you are prosecuted for contract breach


Add-Ons for Professional Indemnity Insurance for Ohio Contractors

Insurance companies may offer these policies as endorsements to professional indemnity insurance for Ohio contractors 

  • Crisis management coverage:  Protects your business from any financial impact it may be subjected to in mitigating a reputation crisis event.

  • Fidelity insurance: This add-on protects your business from any financial losses it may be subjected to due to your employee’s deceitful, dishonest, or fraudulent acts.


Coverage Limits for Professional Indemnity Insurance for Ohio Contractors

It’s typically $1 million per occurrence. The number of customers you serve and the risks your employees are exposed to during their service provision determine how much an insurer will pay you upon issuing them with a claim notice.

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Commercial Property Insurance for Ohio Contractors

CoverWallet NEXT (Best) Thimble The Hartford Hiscox
Building coverage limit (minimum) $50,000 $340,000 $25,000/$500,000 $35,000 $25,000
Contents coverage limit (minimum) $50,000 $35,000 $25,000/$500,000 $35,000 $15,000
Outdoor signs Excluded $2,500 Excluded Excluded Included
Accounts receivable  Excluded Excluded $5,000/$10,000 Excluded Included
Money and securities Excluded $2,500 $1,000 Excluded Included
Lock and keys  Excluded $2,500 Excluded Excluded Included
Business interruption floater Excluded Included Included Excluded Included
Equipment breakdown floater Excluded Included Excluded Excluded Included
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


This Ohio contractor insurance policy covers repairing, rebuilding, and replacing your commercial property following its destruction by an insured peril. The commonly insured peril under this policy includes fire, theft, vandalism, and natural disasters or weather conditions such as windstorms, hailstorms, and lightning. Your commercial building location, occupancy, and construction materials are some of the factors that insurers use to determine the premium rates under this policy.


Incidences When You Can Use This Ohio Contractor Insurance

Commercial property insurance can help these purposes:

  • When you want to rebuild your damaged commercial building following the occurrence of an insured risk

  • When you want to replace or restore your physical business assets after an insured peril has damaged them


Add-Ons for Commercial Property Insurance for Ohio Contractors

These are the common floaters to commercial property insurance:

  • Business interruption insurance: This add-on, you will be compensated for the loss of income after the occurrence of a peril that disrupts you from generating income

  • Inland marine insurance: This add-on provides you with coverage if your commercial being transported gets destroyed by fire, theft, vandalism, or lightning


Coverage Limits for Commercial Property Insurance for Ohio Contractors

It’s approximately $1 million. Your insurer’s underwriting policies and your premium rates for this Ohio contractor insurance directly influence the coverage limits under this policy.


Business Owner’s Policy for Ohio Contractors

CoverWallet NEXT (Best) Thimble  The Hartford Hiscox
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $320,000 $25,000/$500,000 $35,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes


This is bundled commercial insurance that protects you against property damage, business interruption, and liabilities. Generally, insurance carriers determine whether or not your business qualifies for a BOP for Ohio contractors through the following factors: the size and location of your business and the revenue your business generates.


Situations When You Can Use This Ohio Contractor Insurance

Here are some situations where a BOP can help:

  • When an insured peril destroys your commercial property

  • When your clients sue you for copyright infringement, advertisement injuries, and personal harm

  • When your business operations cause third-party bodily injuries or property damages

  • When the products you sell or manufacture cause your customers’ bodily injuries or property damages


Add-Ons for BOP for Ohio Contractors

Some of the most common endorsements to a BOP are:

  • Cyber liability insurance: This add-on covers your business from financial losses that come as a result of a cyberattack or a cyber-related incident

  • Product recall insurance: This add-on protects from incurring costs of disposing, notifying your customers, or recalling your products from the general market


Coverage Limits for Business Owner’s Policy for Ohio Contractors

An insurer can pay you approximately $1 million as the coverage limit for this Ohio contractor insurance policy. Commonly, your coverage needs and the levels of risks your business is associated with determine how much an insurer will pay you as the coverage limits under this policy.


Tools and Equipment Insurance for Ohio Contractors

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes


This contractor’s insurance covers lost, stolen, and accidentally damaged tools and equipment. This policy doesn’t cover tools and equipment lost, stolen, or damaged in transit. It also excludes general wear and tear. Only movable tools and equipment under 5 years old are covered under this policy.


Incidences When You Can Use This Ohio Contractor Insurance

Here are some situations where tools and equipment insurance can help:

  • When your working tools or equipment get lost or stolen while on your working site or your premises

  • When your tools or equipment are unintentionally damaged by fire, theft, vandalism, or lightning


Add-Ons for Tools and Equipment Insurance for Ohio Contractors

  • Inland marine floater: Tools and equipment insurance doesn’t cover perils that happen while you’re equipment is being transported. Adding an inland marine floater solves this gap

  • Floods insurance: Flood insurance is recommended for businesses in flood-prone areas. With this add-on, water damage to tools and equipment is covered


Coverage Limits for Tools and Equipment Insurance for Ohio Contractors

The coverage limits under this policy range between $700 to $5,000 per insured item. The deductibles under this policy directly determine the coverage limits for this policy.

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Commercial Auto Insurance for Ohio Contractors

NEXT The Hartford CoverWallet Hiscox  Thimble
Auto liability aggregate limit (minimum) $25,000/$15,000/$25,000 $100,000/$300,000 CSL $15,000/$20,000/$25,000 $25,000/15,000/$25,000 $20,000/$25,000/$15,000
Rental reimbursement coverage aggregate limit $1,500 $900 Excluded $500 $1,000
Trailers can be added to commercial auto insurance? Yes Yes No Yes Yes
Roadside assistance coverage included  Yes No No Yes Yes
Safe driving discounts included? Yes Yes Yes Yes Yes


This is business insurance that confers you with financial immunity in the event your business vehicle gets into an accident that subjects you to financial liability. Under this policy, you are provided with the following coverages:

  • Bodily injury liability coverage: Covers your third-party bodily injuries and sometimes death following an accident that you have caused

  • Collision coverage- exempts you from incurring costs after your vehicle gets hit or if it hits another object

  • Comprehensive physical damage coverage: Protects you from incurring expenses if your vehicle gets damaged by fire, theft, vandalism, and some natural calamities such as lightning

  • Medical payments coverage: Exempts you from paying your drivers as well as the passengers in your vehicle medical expenses after they get injured in an accident

  • Property damage liability coverage: Exempts you from financial liability if your vehicle damages another person’s property

  • Uninsured or underinsured coverage: Uninsured/underinsured motorist coverage covers expenses you would’ve paid  after an accident caused by an uninsured/underinsured driver happens


Incidences When You Can Use This Ohio Contractor Insurance

Commercial auto insurance can help in the following situations:

  • When your business vehicle gets damaged by fire, vandalism, theft, and some weather-related catastrophes such as hailstorms and lightning

  • When your commercial vehicle gets hit by an underinsured or uninsured motorist

  • When you are found liable for paying your commercial vehicle driver and those traveling inside your business vehicle medical expenses

  • When you want your medical bills to be catered for after sustaining injuries while driving your commercial vehicle


Add-Ons for Commercial Auto Insurance for Ohio Contractors

Here are some common add-ons to commercial auto insurance:

  • Consumables coverage: Through this add-on, you are exempted from incurring the costs of repairing or replacing the following things in your commercial vehicle. Bolts, screws, washers, and brake fluid. Please note that this add-on is only available for business owners of commercial high-end luxury automobiles

  • Inland marine coverage: This add-on protects specialized tools, equipment, and supplies in commercial vehicles. It protects your valuable assets from theft, damage, and transportation accidents


Coverage Limits for Commercial Auto Insurance for Ohio Contractors

The coverage limits under this policy are $10,000 per person for medical coverage and $1,000,000 for third-party bodily injuries and property damages liabilities. The statutory requirements and your insurer of choice determine the coverage limits under this policy.


Excess Liability Insurance for Ohio Contractors

The excess liability insurance for Ohio contractors protects your business from any financial constraints if your primary insurance policy coverage limits get exhausted. For instance, you can use this insurance to pay for a claim that exceeds your general liability insurance or your professional liability insurance coverage limit. Important to note is that excess liability insurance differs from umbrella liability insurance in that the former covers one policy and the latter covers multiple policies.


Add-Ons for Excess Liability Insurance for Ohio Contractors

Though add-ons are rarely common, you may endorse the following policies to excess liability insurance:

  • Worldwide coverage: Under this add-on, you are covered against any claims and financial liabilities while performing your contracting works outside your coverage territory.

  • Defense cost coverage: You are exempted from incurring any costs associated with the defense or appeal of a claim through this add-on.


Coverage Limits for Excess Liability Insurance for Ohio Contractors

It usually ranges between $1 million to $100 million. The type of policy, the deductibles, and the risks you are exposed to directly influence how much your insurer will pay you as the coverage limits under this policy.

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Workers Compensation Insurance for Ohio Contractors

It’s only in Texas and Wyoming where employers are not required to acquire this insurance policy. Workers compensation insurance, commonly called workers comp insurance, covers you from footing your employee’s medical expenses, death, disability, and dismemberment benefits following a work-related injury or illness. 


Incidences When You Can Use Workers Compensation Insurance for Ohio Contractors

Here are some situations where workers’ compensation insurance can help:

  • When you are required to pay for your worker’s medical expenses following a work-related injury or sickness

  • When you are liable for paying dismemberment and disability benefits to your employees

  • When your deceased employee named beneficiary demands to be paid death benefits

  • When you are required by law to pay a certain portion of your employee’s lost wages following an occupational-related injury or illness


Add-Ons for Workers Compensation Insurance for Ohio Contractors

Here are some common add-ons to workers compensation insurance:

  • Employer liability coverage: Under this add-on, you are covered against any claims your former or current employee may subject you to. Such claims include the inability to provide them with safe working conditions.

  • Voluntary compensation coverage: Covers voluntary and temporary employees.

  • Occupational accident insurance: This add-on covers unintentional injuries or deaths of independent contractors working for you. It shields your company from subcontractor mishaps.


Coverage Limits for Workers Compensation Insurance for Ohio Contractors

There are no set coverage limits for workers comp insurance for Ohio contractors. Your employees will get compensated under this policy regardless of who is at fault.

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Ohio Contractor Insurance Cost

The average Ohio contractor insurance cost is $155 per month or $1,860 per year for a $1 million general liability policy. Below is a compiled table showing the monthly and annual cost for Ohio contractor coverage from the insurance industry’s leading companies for a $1 million general liability insurance for contractors. We have also provided you with brief details on what each of the mentioned insurance companies is best for when it comes to the provision of contractor liability insurance Ohio:

Cost per Month Cost per Year Best for
Thimble $80 $960 Ohio contractors who operate part-time or those that need short-term coverage
Tivly $120 $1,440 Comparing Ohio contractor insurance quotes over the phone 
NEXT $150 $1,800 Best overall; Fastest general liability insurance for Ohio contractors 
CoverWallet $180 $2,160 Comparing Ohio contractor insurance quotes online 
The Hartford $200 $2,400 Established Ohio contractors who operate on a large-scale level and need comprehensive coverage
Hiscox $200 $3,600 Worldwide coverage for Ohio contractors



Best Ohio Contractors Insurance Companies

Below are some of the Ohio contractor insurance companies we recommend. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability policy:


NEXT

Pros

  • 10% discount on bundled policies

  • Offers multiple insurance policies

  • Generates its quotes within or under 5 minutes

  • You can report a claim 24/7

  • Great customer service and reputation

  • Issues an online proof of insurance instantly

  • Outstanding value for money

  • Bundle two or more insurance policies and get a 10% discount

  • Fastest general liability insurance

Cons

  • Couldn’t find any 


The AM Best has rated this 100% operated and managed insurance company an A-grade. NEXT provides small-scale business owners and freelancers with customizable and affordable insurance policies. Its premium rates can be paid annually or monthly. Some Ohio contractor insurance policies this private insurance company deals in include business owner’s policy, general liability insurance, professional indemnity insurance, and workers comp insurance.


Best for: Best overall; Fastest general liability insurance for Ohio contractors 

Average cost: $150 per month

Our rating: 10/10


CoverWallet

Pros

  • Provides you with quotes from different insurance companies

  •  Large catalog of insurance policies

  • You can purchase and manage your policies through its website

Cons

  • You may have to call in to finalize your quotation process

  • Not an insurance company but an insurance broker

CoverWallet is an AON PLC-owned online insurance company. This self-described concierge aggregates business insurance from its partnered insurers and avails it to its customers for comparison. All its policies are kept in one cloud-based location, making it convenient for its clientele to purchase and manage them. You can also report a claim and modify your coverage 24/7 through its user-friendly website.


Best for: Comparing Ohio contractor insurance quotes online 

Average cost: $180 per month

Our rating: 10/10


The Hartford

Pros

  • Provides financial services

  • Offers discounted policies

  •  Provides coverage to all 50 states

  • Sells both personal and commercial policies

Cons

  •  AARP members benefit the most

The Hartford is a long-standing insurance carrier founded in 1810 by local businessmen. This USA-based insurer has its headquarters located in Hartford, Connecticut. The AM Best and the Better Business Bureau rate The Hartford as an A+ grade insurance company. Policyholders can report a claim any time of the week via phone, online, or through its official mobile application.


Best for: Established Ohio contractors who operate on a large-scale level and need comprehensive coverage

Average cost: $200 per month

Our rating: 10/10


Tivly

Pros

  • USA-based insurance agent

  • Has a user-friendly website

  • Compare quotes over the phone 

Cons

  •  Doesn’t underwrite its Ohio contractor insurance policies


Tivly is a privately owned online insurance agency. It was previously known as Commerciallnsurance.net from 2009 to November 2022. Its headquarters are located in St. Petersburg, Florida. Through its website, Tivly matches its clientele with business policies that suit their commercial needs. Some of the policies Tivly deals in include professional indemnity insurance, commercial auto insurance, workers comp, excess and umbrella liability, and general liability insurance. Call now and talk with a representative to compare workers compensation insurance quotes over the phone. 

Best for: Comparing Ohio contractor insurance quotes over the phone 

Average cost: $120 per month

Our rating: 9/10


Thimble

Pros

  •  Provides temporary and short-term coverage

  • You can cancel your insurance premium at any time

  • Purchase of policy through mobile app is possible

Cons

  •   It doesn’t underwrite commercial auto insurance

Thimble is a USA-based online insurance company that sells affordable, specific, bundled, and customizable commercial insurance policies to its clientele in 50 states. This privately owned insurance company was founded in 2016. As of today, Thimble provides Ohio contractors with the following policies: Business owner’s policy, workers comp insurance, professional indemnity insurance, and tools and equipment insurance policies.

Best for: Ohio contractors who operate part-time or those that need short-term coverage

Average cost: $80 per month

Our rating: 9/10


Hiscox

Pros

  • Monthly premium rates available

  • Worldwide professional liability coverage

  • 14-day money-back refund policy available

Cons

  • Provides its BOP to business owners with less than 10 employees

Hiscox is an internationally recognized and operating insurance company. This international specialist insurer is rated as an A+ online insurer by BBB and AM Best. It’s only available in 49 states. People in Alaska cannot access this premium insurance company coverage.

Best for: Worldwide coverage for Ohio contractors 

Average cost: $200 per month

Our rating: 9/10

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