Bloomington Business Insurance

Your Complete Bloomington, IN Business Insurance Guide

Bloomington, IN sees new businesses pop up regularly. Its small-town feel offers a comfortable place for entrepreneurs to pursue their dream and offers a friendly community that evolves into a loyal customer base, allowing these small businesses to thrive. In 2014, 493,382 Indiana small businesses provided jobs to 1,173,626 employees. But these companies encountered a whopping $5,524,122 in losses — showing both the significant amount of risk and the importance of proper insurance.

Trusted Choice® Independent Insurance Agents can help you find a personalized Bloomington business insurance policy that works for your unique business needs. We aren't tied down to one carrier and can find you a number of quotes to choose from. Our agents will keep your bottom line in mind as they help you navigate the confusing commercial insurance terrain.

If you have only one form of insurance for your Bloomington business, it should be liability coverage. While there are a number of specific coverages that align with unique company needs, these forms of protection will help avoid headaches if a lawsuit lands on your desk.

  • General Liability: According to the 2015 Travelers Business Risk Summary, 60% of small-business owners ranked medical cost inflation as their highest concern and more than 30% said they felt the least prepared to handle this issue. That's why you need a Trusted Choice agent on your side if something as small as a client injury happens in your shop or an employee damages a customer's computer.
  • Product Liability: If a product that you sell, manufacture or distribute malfunctions and causes injury, you could be held liable. In fact, a national study found that 71% of product liability awards and 53% of medical malpractice awards by the courts amounted to $1 million or more. Product liability coverage gives you peace of mind and gives you the protection you need to combat the unexpected.
  • Professional Liability: If you're an advice- or service-providing business, you need errors and omissions coverage to have your back. If you face a lawsuit or negligence claim, this coverage steps in and helps pay for defense costs so you can stay financially stable.

Business Interruption Insurance for Bloomington Businesses

  • U.S. gross domestic product in 2014: 2.2%
  • Indiana gross state product in 2014: 2.1%

If your Bloomington small business were forced to shut its doors, how would you continue to make a profit and keep things running smoothly? Business interruption insurance was designed for such a scenario and compensates you for the revenue you would normally be making during a temporary closure so you can continue to pay the bills and your employees. Walk through the possible Bloomington commercial insurance policy options with a local agent today.

Property Insurance for Businesses in Bloomington

  • Number of natural disasters in 2014: 119
  • Only 61% of losses from natural disasters were covered
  • Total uncovered property damage in 2014: $9.7 billion

Indiana weather can fluctuate by the hour, and seasonal storms can wreak serious havoc to your physical property. Tornadoes bring high winds and bring down trees, while heavy snow can cause roof damage. To ensure you're fully protected against the unexpected and can make repairs in a timely manner, partner up with a Trusted Choice agent. Property insurance is an affordable solution to your weather-related risks.

Workers' Compensation Coverage for Bloomington Businesses

Workers' compensation coverage is required by nearly every state, but did you know that the average national cost of workers' compensation per employee is $612, or $1.27 for every $100 in wages? This coverage steps in to cover legal or medical costs if an employee is injured on the job or suffers from an illness related to work. Ensure you are meeting insurance requirements and have enough protection for your specific Bloomington business needs by talking to a Trusted Choice insurance agent.

Employee Coverages for Bloomington Businesses

  • Total 2013 spending on premiums in Indiana: $674,206
  • 24th highest premium in the U.S.
  • Annual cost of health care for small businesses in 2013: $6,379/individual or $17,424/family

Your employees deserve access to great health and life insurance plans for themselves and their families, but navigating the policy options as an employer can be overwhelming. Whether you have five employees or 50, let a Trusted Choice agent help you find employee coverages that work for your unique Bloomington business at an affordable rate.

Cyber Crime Insurance for Bloomington Businesses

  • 4,498 identity theft complaints in Indiana in 2014
  • 33rd highest state for identity theft complaints

Luckily, Bloomington doesn't see an overwhelming number of data breaches and cyber attacks. But in today's increasingly technological world, you can never be too careful. If you're part of the 68% of small businesses without a response plan in place, you need to visit your local Trusted Choice agent. A cyber crime insurance policy is a necessary layer of protection that you need in order to protect yourself against unexpected attacks.

Find a Great Bloomington Commercial Insurance Policy

Finding an affordable, customized and comprehensive Bloomington business insurance policy can be tough. But with a Trusted Choice Independent Insurance Agent, you'll receive numerous options to choose from that address your risks and fit within your budget. Our agents know the Indiana small business scene well and want to help you protect what you've worked so hard to build.

Now, who's ready to get their insurance problems solved?