Clarksdale Business Insurance
Find the right business insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
If you’ve always dreamed of owning your own business, Clarksdale, MS might just be the perfect place to put down roots. This “Birthplace of the Blues” is a favorite among tourists who love exploring the unique blues clubs and exploring local shops and art galleries. During previous years, there were 242,843 small businesses in Mississippi, providing employment to 430,316 people. Of course, owning a business is always risky. Recently, loss payouts to Mississippi businesses reached $2,714,133. As a business owner, you can protect your investment and minimize your risk by investing in Clarksdale business insurance.
Our Independent Insurance Agents take the guesswork out of buying business insurance and offer one-on-one support to help you find the coverages that will best safeguard your company from Clarksdale’s most worrisome threats. As you start shopping for business insurance, general liability coverage is the first building block you need. According to a recent Travelers Business Risk Summary, 60 percent of small-business owners ranked medical cost inflation as their highest concern and more than 30 percent said they felt least prepared to handle this issue. Liability lawsuits are increasingly common, so make sure you are adequately prepared with the right business insurance on your side.
- Product Liability: According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more. This kind of financial devastation is too much for most small businesses to handle, and it can mean immediate bankruptcy and permanent shut down. Fortunately, product liability insurance protects your business and offers you compensation for legal fees and settlements if you ever do end up in the midst of a serious product liability lawsuit.
- Errors & Omissions/Professional Liability: If your business provides a community service rather than physical sales, you need professional liability insurance. This type of policy gives you a buffer against accusations of errors and omissions and protects your company’s assets in case of a lawsuit.
Business Interruption Insurance for Clarksdale Businesses
- Recent Gross domestic product: 2.2%
- Recent Mississippi gross state product: 1.6%
- The recent GSP was 0.6% lower than the recent GDP
Over the years, Clarksdale has experienced some major weather disasters that caused businesses to shut down while making repairs. For the small business, closing the doors even temporarily can be devastating because they cannot handle even a short-term lack of revenue. Business interruption insurance offers protection for small businesses by compensating owners for lost revenue after a serious disaster or interrupting event.
Property Insurance for Clarksdale Businesses
- Number of recorded disasters in Mississippi since 1953: 83
- Number of tornadoes in Mississippi per year: 43
- Most common cause of disasters: Severe Storm
- Amount of property damage in Mississippi: $212,070,000
- 1 in 15 insured homes has a claim each year
Clarksdale faces an elevated risk for tornadoes, with a long history of serious summer storms that have done major damage to local businesses. If another tornado touches down in your neighborhood, are you prepared to pay for property repairs? Commercial property insurance gives you instant access to the money you need to clean up and rebuild after natural disasters. It’s a must-have policy for any small business in Clarksdale’s high-risk tornado alley.
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Our independent agents shop around to find you the best coverage.
Workers' Compensation for Clarksdale Businesses
Before you bring employees into your business, you need to have workers' compensation insurance in place. This insurance safeguards your business if an employee falls or gets injured at work. Workers' comp steps in to cover medical bills, pay for lost wages and ultimately protect you from a devastating lawsuit.
Employee Coverages for Clarksdale Businesses
- Total recent spending on premiums in Mississippi: $332,790
- Ranked 17th for the highest premiums in the U.S.
- Annual cost of health care for small businesses in recent years: $5,207/person or $14,053/family
It’s difficult for many small businesses to provide health insurance and life insurance benefits to employees. The good news is that affordable employee coverages are out there if you’re willing to do your homework. Our Independent Insurance Agents can provide you with quotes on multiple policies from our wide network of coverages. This gives you a better chance of finding a budget-friendly plan so that health and life insurance can become a reality for your staff.
Cyber Crime Insurance for Clarksdale Businesses
- 2,409 Identity theft complaints in Mississippi in recent years
- Ranked #18 highest for identity theft complaints in the U.S.
Research shows that only 22 percent of small businesses have a response plan in place to deal with cyber attacks and data breaches. Is your business prepared? Cyber crime insurance is an important part of commercial coverages in today’s world where businesses use technology for everything from credit card transactions to payroll. If you’re a small-business owner in Clarksdale looking for the most reliable commercial insurance options, our Independent Insurance Agents can help. Our friendly agents specialize in helping small businesses find comprehensive business insurance at affordable prices. There’s no need to worry about liability, property damage or cyber crime.
Just contact an Independent Insurance Agent today for a free quote on Clarksdale business insurance, and get peace of mind that your business is secure.