Illinois Business Insurance

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Small business insurance in Illinois

Business owners in the Prairie State should consider several types of business insurance to guard against risks related to their daily operations, property, and employees. The right coverage lets you focus on your company without worrying about unexpected costs from accidents or lawsuits.

There are 1.4 million small businesses in Illinois that account for 99.6% of all companies in the state, according to the Small Business Administration (SBA). Employing 2.4 million people, these Illinois businesses are required to provide workers' compensation insurance.

Shop for workers' comp, general liability, and other coverages through Progressive Commercial. We'll help you customize an Illinois business insurance policy that meets your unique needs.

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Types of IL business insurance

General Liability

General liability insurance in Illinois is the most common type of coverage and is recommended for nearly every business. It protects against third-party bodily injury, property damage, and personal and advertising injury.

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Commercial Auto

This insurance protects against damage to your company vehicles and trailers while providing coverage for any accidents or damage they may cause. Your personal auto policy doesn't cover vehicles while they're being used for business reasons.

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Workers' Compensation

Businesses in Illinois are required to have workers' comp insurance if they have one or more employees. This coverage helps pay for expenses related to workplace accidents.

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Business Owners Policy (BOP)

A BOP simplifies coverage by combining property and liability insurance into one policy. It's great for small to mid-sized businesses that rent or own commercial buildings and need to protect things like furniture, tools, and equipment.

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Professional Liability

Illinois businesses that offer professional services can benefit from this coverage. It protects companies from claims of negligence and helps pay for legal costs. It's also known as errors and omissions insurance (E&O).

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Cyber Insurance

Cyber insurance protects against electronic threats like data breaches and cyber attacks. It can cover investigative services, data recovery, and legal expenses. Businesses that store or manage customer data, like credit card information, typically need this insurance.

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How much does business insurance in Illinois cost?

In 2024, the national median monthly cost of business insurance for new Progressive Commercial customers ranged from $42 for professional liability to $80 for workers' comp.

How much you pay for business insurance in Illinois will vary, depending on several factors, including your coverage needs, location, and size. For example, business insurance in Chicago will typically have a higher rate than insurance in Bloomington due to differences in property value, repair costs, local regulations, and more.

Your profession is one of the main drivers of your insurance cost. Compare a handyman who works one job by himself to a general contractor who oversees multiple projects and subcontractors. Because their role involves greater responsibility and risk exposure, general contractor insurance in Illinois will usually have a higher premium.

Learn more about the  factors that affect your business insurance rate and start an online quote to determine what you'll pay for customized coverage.

Illinois business insurance requirements

Workers' compensation in Illinois is one type of business insurance required by state law. Business owners with one or more employees are required to carry workers' comp through the state insurance fund or a private carrier.

Even if Illinois doesn't require other types of business coverages, such as general liability or a BOP, many prospective clients do. They often include coverage limits in their contracts and only work with companies that meet those requirements.

Explore more essential business insurance resources.

Resources for Illinois small business owners:

Workers' Compensation Resources for Employers (Illinois Workers' Compensation Commission)
Workers' Compensation Resources for Employers 2025 Illinois Small Business Profile (U.S. Small Business Administration)
2023 Illinois Workplace Injury Data (U.S. Bureau of Labor Statistics)

Illinois professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of  professions we insure.

Why choose Progressive Commercial

Options

Whether you're just starting out or are quickly growing, we'll help you get the right coverage and can adjust your policy as your business evolves. Our agents will work with you to find protection that fits your needs and budget.

Experts

As America's #1 commercial auto insurer,^* you can trust us with your Illinois business insurance needs. Our expert agents are ready to help you choose the right coverage.

Convenience

No matter what kind of coverage you need, there are several ways to get Illinois business insurance. Start a quote online to learn more or  call us to speak with an agent.