Ohio Casualty Car Insurance Review: Rates & Discounts in 2023
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UPDATED: Mar 15, 2023
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- Casualty insurance provides coverage if you injure someone else or damage their property
- Ohio Casualty Insurance Company provides casualty insurance for small and medium businesses in eight regions
- Insurance policy options include property and liability, workers’ compensation, and commercial auto insurance
The concept of casualty insurance may confuse you. Luckily, we’re here to help you better understand exactly what this insurance entails. Read on for a detailed overview of one of the most prominent providers of this product — Ohio Casualty Insurance Company.
Casualty Insurance Defined
Despite what the name may suggest, casualty insurance does not cover expenses when you die. Rather, this insurance is also called non-life insurance, and the term casualty refers to forms of liability insurance. For instance, if you are responsible for injuries to someone else or damage to their property, casualty insurance can protect you. This coverage will help pay for civil actions or insurance claims made against you.
Casualty insurance is found in numerous insurance sectors. For example, both homeowners insurance and car insurance typically provide casualty insurance offerings. In these circumstances, the insurance might cover instances where someone is injured on your property or by your vehicle, respectively. Business owners also typically have casualty insurance to protect themselves from lawsuits initiated by employees or consumers.
Types of Casualty Insurance
Casualty insurance, as one might imagine, is a bit of an umbrella term because it has many subfields. Below are a few of the most common forms of this insurance.
The more employees a business holds, the more likely it becomes that at least one worker will experience an on-the-job injury at some point. If an employee can demonstrate negligence on the business’s part, a legal claim could quickly cause financial peril for the company.
Workers’ compensation is perhaps the one type of liability and casualty coverage that every employer needs. It covers expenses that arise from a worker sustaining an injury in the workplace or while out performing a job.
This insurance type can also come in different forms. Typical theft insurance would cover losses if an item belonging to someone else is stolen on your property. Identity theft insurance, on the other hand, might cover the theft of an individual’s personal information when that information is under your care.
For example, if someone hacks into a company’s computer database and steals customers’ social security numbers, this would be an example of identity theft covered by casualty insurance.
If you are moving someone’s property from one location to another, you are responsible for the property until you transfer it to someone else. Therefore, any damage inflicted on the property while it’s in your custody is your responsibility.
As you can surmise, transport casualty insurance covers expenses resulting from such damage. Professional moving companies or auto transport companies are some of the businesses that would benefit from this type of insurance. In addition, companies that transport via air or water also utilize transport insurance.
Ohio Casualty Insurance Company Basics
Headquartered in Fairfield, OH, the Ohio Casualty Insurance Company specializes in commercial insurance for small to medium-sized businesses with under 1,000 employees. Business sectors served by Ohio Casualty encompass agriculture, construction, healthcare, hospitality, manufacturing, retail, transportation, wholesale, and more.
Independent insurance agents are the exclusive avenue through which businesses can obtain this insurance. They are certified through a rigorous licensure process that includes answering Ohio property and casualty exam questions.
Ohio Casualty insurance products are available from over 1,200 companies in the following states and regions:
- Washington, D.C.
- West Virginia
The official Ohio Casualty Insurance Company address is 9450 Seward Road, Fairfield, OH, 45014-5456. To contact an Ohio Casualty customer service representative, you may call this phone number: 800-843-6446.
The company is regulated by the Property and Casualty division of Ohio’s government, which establishes consumer protection standards regarding pricing, policy clarity, and discrimination.
Ohio Casualty History
The Ohio Casualty Insurance Company, or Ohio Casualty Group, has roots dating back to 1919, when founders Samuel M. Goodman, Ben D. Lecklider, and Howard Sloneker, Sr. began the enterprise in Hamilton, OH. While glass insurance was the initial focus, the company soon began selling surety, fidelity, forgery, burglary, and other types of liability insurance in Ohio and beyond.
Since its inception, Ohio Casualty Insurance has expanded to billions of dollars in assets. In 2007, Ohio Casualty became part of one of the largest property and casualty insurers — Liberty Mutual Agency Corporation (specifically, the Liberty Mutual Group). This company serves approximately 30 nations around the world.
Ohio Casualty Coverage
Businesses can benefit from a host of coverage types, such as the aforementioned workers’ compensation, equipment breakdown insurance, property and general liability insurance, commercial auto insurance, commercial umbrella insurance, and GAP insurance.
Commercial Auto Insurance
If you rent, borrow, or otherwise utilize a vehicle for your business, this type of insurance will cover damages sustained by the vehicle. You can also receive reimbursement for rentals.
Damage claims cannot exceed $50,000. However, rental reimbursements are capped at $75 a day.
Equipment Breakdown Insurance
Businesses rely on functional equipment. A restaurant, for example, needs a working oven to conduct its daily operations. If equipment crucial to your business malfunctions, you can be hit with a variety of unexpected expenses. You may need to replace the equipment. Even if a professional can fix the fault, you will still incur labor and parts charges.
Plus, the temporary loss of the equipment may impair your ability to provide prompt service or products. Your business will need to recover after the issue is fixed. With all of these potential problems, equipment breakdown insurance can provide an invaluable layer of security if the worst should happen.
Commercial Umbrella and GAP Insurance
Sometimes, you need coverage that goes above and beyond the basics. Commercial umbrella insurance raises the liability limits and the level of protection provided by a basic policy. If you want maximum peace of mind, consider this coverage for the worst-case incidents that could befall your business.
Similarly, if vehicles are a major component of your business operation, GAP car insurance could be a solid consideration. Under Ohio Casualty’s related policy, you can make up the difference between the value of the vehicle and the amount remaining on your loan or lease if an accident occurs in which the vehicle is destroyed.
As cars depreciate quickly, the difference can sometimes amount to thousands of dollars.
Property and Liability Insurance
One of Ohio Casualty’s most popular policies is its business owners policy which combines general liability and business property insurance. As previously mentioned, the latter covers damage incurred to property used by the business (such as computers), while the former addresses injuries to other people that occur on the business grounds.
Commercial property and liability packages are available with different expanses of coverage and policy limits. A comprehensive policy will provide you the maximum coverage and protection.
Your business may come with specific needs and liabilities unique to its industry. For this reason, Ohio Casualty Insurance Company offers many policies and endorsements tailored to particular niches. Relevant business interests range from restaurants to hotels to garages.
Here are a few common business sectors and related insurance options.
Whether you run a small family farm or a larger commercial undertaking, you will likely run into many liability landmines. Farm owners insurance can provide protection for farm property and vehicles used in the operation of the farm.
You can also safeguard your valuables with security detail covered by the insurance. And if your workers sustain injuries, this insurance can shield you from the financial harm of liability claims.
Inland Marine Insurance
Transportation floaters are a key cog in supply chains, and as such these important devices deserve optimal insurance protection. The objects delivered via transport can also run up a hefty bill if they are damaged in transit, particularly if they are antiques.
In addition, the sophisticated electronic processes that record and store transit information are crucial for efficient operations. They, too, must have security in operations. Inland marine insurance can provide all of these must-haves.
Ohio Casualty Insurance has become a regional leader for liability and property coverage in local educational institutions. If students, staff, or teachers are injured on school grounds, this insurance will ensure that your school does not take a devastating financial blow.
And if a large-scale issue affects computers or other equipment needed for learning, the insurance will give you the confidence to fix the issue with speed and efficiency.
Casualty insurance is essential for most businesses. After digesting this information, you should have a clearer insight as to whether or not Ohio Casualty Insurance will work for you. Explore your options with a fast and easy quote today.
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