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What type of insurance do you need?
Last year, small businesses in Illinois made $490 billion. If a liability claim, property damage or workers' compensation claim comes your way, how would you handle the associated costs?
If you don't have the proper amount and type of coverages, you'll have to be pay for things out of your pocket, meaning they have to be paid out of your business’s revenue.
40% of small businesses are likely to experience a property or general liability claim in the next 10 years. Here are some things these companies have been using their insurance on:
Illinois business insurance will pay for covered claims so your business doesn’t have to. It gives you peace of mind so you can focus on what matters: your business's bottom line.
Here’s what a standard business insurance policy should do:
Sometimes, these coverages are not enough to properly protect a business against risk. Your business most likely faces unique risks and may need additional coverages.
To make sure you're properly insured, we can match you with the right independent insurance agent who specializes in your field.
A commercial insurance policy is not required of Illinois business owners, but certain aspects of it may be.
For example, in this state, businesses that employ one or more people must carry workers' compensation insurance and businesses that have company-owned vehicles must carry commercial auto insurance. To learn more about coverage that you may need to carry, you can talk with a local Trusted Choice® agent.
It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples.
Business insurance rates are calculated using a number of factors such as the risks to your business property, your liability coverage needs and the amount and types of coverage you want. Policies can vary significantly by business industry, so it is best to talk with an experienced insurance agent when building a suitable and comprehensive policy for your business.
It’s usually wise to work with an independent agent in Illinois since they have access to multiple insurance companies. Sometimes its difficult to find an insurance company who will cover your business.
Number of businesses in the US: 27,626,360
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
|City||No. businesses||Burglaries / 1,000 people||Auto thefts / 1,000 cars|