Business Insurance in Maryland (MD)

Choose The Hartford for All Your Maryland Business Insurance Needs

The state of Maryland has over 600,000 small businesses, making up 99.5% of the state’s total companies.¹ As more small businesses get started, the Maryland economy will continue to grow. In fact, it grew 2.5% in 2020, even faster than the United States growth rate of 2.1%.²

It’s important that small businesses get the right insurance protection. We can help get you business insurance that keeps you protected.

Types of Small Business Insurance in Maryland

General Liability Insurance in Maryland

General liability insurance is one of the most critical policies a business owner can purchase. It protects your company from claims of:

Bodily injury
Property damage
Reputational harm
Advertising or personal injury

Without this coverage, your business assets could be at risk if you’re sued by a customer. Business liability insurance in MD can help protect your business from common situations, like if your:

Employee is accused of violating a customer’s right to privacy and you’re liable in a $200,000 lawsuit.
Customer claims your business caused damage to their property.
Client gets injured while in your store and has to go to the ER, suing you to cover his medical bills.

Professional Liability Insurance in Maryland

Professional liability insurance, also known as errors and omissions insurance, can help cover claims of:

Negligence
Misrepresentation
Inaccurate advice

This coverage may be especially helpful for:

Some scenarios that errors and omissions insurance in Maryland can help protect you from include:

Making a clerical error as an accountant that costs your clients thousands of dollars.
Losing a client’s wedding footage while working as a videographer.
Accidentally installing the wrong fixtures in your client’s home as an interior designer.

Maryland Home-Based Business Insurance

It’s becoming more and more popular for new small businesses to be home-based. This helps reduce start-up costs. However, it’s still important to have the right insurance coverage. At home businesses can often benefit from our home-based business insurance solutions. This can help protect you from claims of employee or client injuries or customer property damage.

Another good option for home-based businesses is our Business Owners’ Policy (BOP), which can help cover your:

Employees who work out of your house
Customers who meet you at your home
Inventory stored at your home
Sensitive client information at your house

This policy combines three essential coverages into one convenient policy, including:

Commercial general liability insurance
Business income insurance
Commercial property insurance

Maryland Commercial Flood Insurance

It’s important to have commercial flood insurance before a disaster hits. We offer commercial flood insurance through the National Flood Insurance Program. Keep in mind that the government requires a 30-day waiting period for new policies.

Commercial flood insurance can help protect your business from damage caused by a flood to your:

Office
Store
Warehouse
Equipment
Furnishing
Inventory

You should consider a flood insurance policy if:

Your business is in an area with regular flash flood or hurricane warnings.
The area your business is in has heavy rainfall seasons that could cause flooding.
You run your business in an area that has heavy snow which can result in rapid snowmelt that causes flooding.

Business Auto Insurance in Maryland

Commercial auto insurance can help cover the costs of auto accidents if you or your employee is at a fault. In the event of an accident, it can help pay for damaged property and medical expenses. This policy can also help cover you and your employees, regardless of if you’re driving your personal vehicle or business vehicles on-the-job. To learn more about how to protect your company’s motor vehicles, get a quote today.

Maryland Minimum Business Insurance Requirements

In Maryland, you’ll need a workers’ compensation policy for your employees. This coverage helps protect your employees if they receive an injury or illness from their work.³

Workers’ comp policies from us can help pay for your injured or ill employees’:

Medical payments
Cost of prescriptions
Lost wages

Workers’ compensation insurance can also help protect business owners in the event that their employee or family sues them for a work-related injury or illness. To learn more about workers’ comp insurance, get a quote today.

How Much Is Insurance for a Small Business in Maryland

The cost of your small business insurance in Maryland will depend on the type of company you run. Some factors that impact how much you’ll pay include your:

Industry
Property owned
Number of employees
Claims history

Get MD Business Insurance Wherever You Are

No matter where you live in Maryland, we’ve got you covered. For instance, you can get:

Business insurance in Annapolis MD
Business insurance in Baltimore MD
Business insurance in Easton MD

Additional Maryland Business Insurance Links

Get a quote on small business insurance for your company today. We’re an insurance company that you can count on to protect the business you’ve worked so hard to build.

^1,2 Small Business Administration (SBA), “2020 Small Business Profile: Maryland”

³ Maryland Insurance Administration, “A Business Owners Guide to Commercial Insurance”

Maryland (MD) Business Insurance