DeKalb Business Insurance

If you own a business in DeKalb, IL, you may want protection for your assets. While the state will require some commercial insurance, others may be necessary to avoid financial ruin. There are 43,193 residents in DeKalb, making it a mid-sized town to own a business.

Illinois has 1,200,000 small business owners, and some may not have sufficient coverage. When you work with an independent insurance agent, you'll get the best policy and premium. Get connected with a local expert in minutes. 

Commercial Property Insurance in DeKalb, IL

Did you know that most business insurance policies won't provide full protection? Your DeKalb commercial property policy may only have an 80% replacement cost foryour structure. This would leave you responsible for the first 20%. 

One way to get an accurate quote is to go over key items with a professional. Things like year built, any updates, square footage, and more can be used to rate your policy. Local weather and the crime rate are other factors that carriers look at when determining costs.

Common property risks in DeKalb, IL:

1. Severe storms and lightning
2. Flooding and water damage
3. Tornadoes
4. Heavy snow 
5. Burglary and other property crimes

DeKalb's weather-related statistics:

• Number of natural disasters in Dekalb: 10
• Number of major disasters declared in DeKalb: 7
• Types of natural disasters in DeKalb: floods, storms, snowstorms, blizzards, hurricanes

Why you need flood insurance:

The primary reason is that you won't have coverage for a flood on any other policy. You'll need separate flood insurance to have protection. Quotes can be obtained from FEMA-approved carriers for the best results. 

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Liability Insurance in DeKalb, IL

Liability insurance could save your business from a lengthy lawsuit and financial ruin. As of 2019, there were $16,998,439,000 in commercial claims paid in Illinois. To have adequate protection, take a look at the following options:

• Cyber liability insurance: Pays for a loss resulting from a compromised system. When company data is stolen, your business is at fault for the damages. This policy will protect your finances.
• Business interruption insurance: Pays for regular business expenses when you have to close your doors due to a loss. Coverage lasts 1 to 2 years. 
• General liability (GL) Insurance: Pays for a loss arising out of property damage, injury, or slander. It is the most commonly used policy your business will own. 

Types of Employee Policies in DeKalb, IL

When it comes to insuring your business, employees play a large role. You'll want protection for your staff as well as your assets. Consider these policy options:

Worker's compensation insurance:

In DeKalb, IL, you're required to carry worker's compensation insurance when you have one or more employees. If you're an officer, owner, member, or sole proprietor, you can be exempt. Worker's compensation will help pay for medical expenses and lost wages when an employee is injured or becomes ill on the job. 

Employee benefits coverage:

There were 2,500,000 people employed by small businesses in Illinois as of 2019. By offering employee benefits, you can add value that is necessary when attracting and retaining staff. Employee benefits will help pay for health insurance and more for your team.

Why You Need a DeKalb, IL Independent Agent

Business insurance is essential when you're trying to cover your assets. If you want to keep your livelihood protected and your operation running, the right policy is necessary. Fortunately, an independent insurance agent can help.

They have access to several carriers, giving you options on coverage and premiums. When you're tired of doing it on your own, consider using a professional. Connect with a local expert on TrustedChoice to start saving.