Illinois (IL) Business Insurance

Choose The Hartford for Small Business Insurance in Illinois

Illinois is home to 1.3 million small businesses, which make up 99% of all companies in the Prairie State.¹ These small businesses employ 2.4 million people, which is 44% of all employees in Illinois.² Whether you’re planning on launching a startup, currently own a small business in the state or have been established for years, it’s essential to have the right seguro de negocio coverage to help you run a successful company.

No matter where you’re located, we’ll get you the coverage you need specific to your small business. So, from Chicago to Naperville to Carbondale or anywhere else in Illinois, let The Hartford help give you the peace of mind you need as a business owner.

How Much Is Illinois Business Insurance?

The Hartford's small business customers in Illinois pay an average of $946 a year, or about $79 a month, for a Business Owner's Policy (BOP).³ For workers' compensation insurance, our customers pay an average of $1,062 a year, or about $88 a month.⁴

Your insurance costs may be different than the average because everyone has unique policies that meet their specific needs. Insurance companies also use different factors to determine costs, which can include your location, industry, payroll, revenue and claims history. The best way to find out how much insurance will cost your business in Illinois is to obtener una cotización.

Types of Seguro para pequeñas empresas en Illinois

Business Owner's Policy (BOP)

Many business owners in Illinois start with a BOP. It combines three important types of coverage into one:

Commercial property insurance
General liability insurance
Business income insurance

A BOP is a good foundation for insurance coverage because it can help protect your business from everyday risks, such as liability and property damage claims.

Because we know not every business owner has the same needs or faces the same risks, we make it easy to customize your BOP. We do this to ensure you can get the specific types of insurance your unique business needs.

General Liability Insurance in Illinois

General liability insurance helps protect your business from claims that it caused bodily injury or property damage to someone else. These types of claims can commonly come up during normal operation, which makes general liability insurance in Illinois an essential coverage for business owners.

Seguro de propiedades comerciales

Commercial property insurance helps protect the owned or rented building, inventory, equipment and tools that you use to operate your business in Illinois. It can help cover claims of property damage due to fire, wind, theft or burglary.

Seguro para ingresos comerciales

Business income insurance helps replace your lost income if you can't operate because of covered property damage. If a fire damages your Illinois business and you can't open while it gets fixed, this insurance can help replace the lost income. With this coverage, you can pay ongoing operating expenses, such as:

Mortgage or rent payments
Impuestos
Nómina de Sueldos
Loan payments

Seguro de responsabilidad profesional

Professional liability insurance helps protect your business if a customer or client claims there was a mistake in the professional services given. Also known as errors and omissions insurance, this type of liability coverage can help pay your:

Legal defense costs
Settlements
Judgments
Court fees

Illinois Commercial Flood Insurance

Illinois business owners may also want to consider getting commercial flood insurance. A commercial property insurance policy doesn't typically cover flood damage. Some counties in Illinois are more prone to flooding, so protecting your business from this risk is important.⁵ Otherwise, you'd have to pay out of pocket for damages.

Commercial flood insurance helps cover property damaged by flood water. The Hartford provides this insurance through the National Flood Insurance Program (NFIP). The federal government requires a 30-day waiting period on new policies. So, it’s important that you get this insurance well before a flood heads your way.

You may need commercial flood insurance if your business is in an area where:

Constant, moderate rainfall could clog drains and gutters, creating flooding.
The warm spring season can cause fast snow melt, causing overflows of the rivers and dams around you.
You’re based in a coastal part of the state that has had hurricane warnings in the past.

Commercial Auto Insurance in Illinois

Commercial auto insurance is critical if your business owns or leases vehicles that you or your employees use for work. If you or an employee get into an accident, a commercial auto policy can help cover:

Medical expenses
Rehabilitación
Vehicle repairs

This insurance can help your small business if:

An employee rear-ends another driver while making a delivery.
You accidentally hit another car while driving back to the office after meeting with a client.
Your employee loses control in a snowstorm while driving to a customer’s house and crashes into their fence.

Hired and Non-Owned Auto Insurance

If you or your employees use personally owned vehicles for business, consider getting hired and non-owned auto insurance. This is similar to a commercial auto insurance policy, so you'll have protection on the road if you're driving for business reasons. Remember, a personal car insurance policy won't cover claims from an accident if you or your employee were driving for work.

Workers’ Compensation Insurance in Illinois

Illinois workers’ compensation insurance gives your employees benefits if they have a work-related injury or illness. These benefits can help your employees recover and can pay for:

Medical bills
Ongoing care costs
Disability benefits

Illinois Minimum Business Insurance Requirements

The State of Illinois requires businesses with at least one employee to carry workers' compensation insurance.⁶ This includes a part-time employee. If your business doesn't comply with Illinois' workers' comp requirement, you face an up to $500 fine for every day of non-compliance.⁷ You can visit the Illinois Workers' Compensation Commission's website to learn more about requirements, exceptions and to find answers to frequently asked questions.

If you have a commercial auto insurance policy or hired and non-owned auto coverage, you must comply with Illinois minimum required liability limits:⁸

Bodily injury liability: $25,000/$50,000
Property damage liability: $20,000

Your customers or clients may also require proof of insurance before working with your small business. With The Hartford, you can get a certificate of insurance (COI) quickly and easily -- regardless of the time or day.

Industries We Insure in Illinois

From technology insurance to contractor insurance in Illinois, we offer business insurance coverages that can help companies in different industries, including:

Get a Quote for Business Insurance in Illinois

Whether you’re in Chicago, Peoria, Quincy or elsewhere in Illinois, you can quickly and easily get a business insurance quote online.

The Hartford isn't like other insurance companies. We're backed by more than 200 years of experience and have helped over 1 million small business owners get the insurance they need. We'll work to understand your business and you can customize your Illinois business insurance policy to fit your unique needs. Obtenga hoy mismo una cotización gratuita and learn how we can help protect your business.

Learn More About Illinois Business Insurance

No matter where you live, we can help you with Business insurance in Illinois.

Business Insurance Chicago, IL

Última actualización: 9 de agosto de 2024

^1,2U.S. Small Business Administration, “2023 Small Business Profile: Illinois.”

^3,4Premium amounts presented are based on monthly premium paid by The Hartford’s Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.

⁵ABC Chicago, “Majority of Cook County Homes, Businesses Uninsured for Increased Flood Risk. What You Need to Know.”

^6,7 Illinois Workers' Compensation Commission, "Insurance."

⁸ Illinois Secretary of State, "Mandatory Vehicle Insurance."

Divulgaciones adicionales a continuación.