There are over 479,00 businesses operating in Indiana. Elkhart is home to more than 4,000 businesses, and is best known for the prevalence of the recreational vehicle and musical instrument industries. In fact, Elkhart is sometimes called the “RV Capital of the World” and the “Band Instrument Capital of the World.”
Elkhart businesses of all sizes, regardless of the industry they represent, need a comprehensive business insurance plan to protect their assets and their employees when something goes wrong. Since every business has unique risks, it’s important to understand all of your exposures and find tailored insurance policies to cover them.
A local independent insurance agent can help you assess your risks, compare policies and quotes, and make an informed decision.
Lawsuits against businesses are common. From simple trips and falls on your premises to illnesses caused by tainted food or severe injuries caused by faulty products, if someone accuses you of negligence, the costs to defend yourself and pay the injured party can be devastating.
A commercial general liability (CGL) policy offers broad protection from lawsuits. It pays for injuries and property damage that you are responsible for. And it covers court costs, attorney fees, and even settlements or judgments that you must pay to the injured party.
Not every kind of liability risk is covered by a CGL policy. There are additional types of commercial liability policies available for many of these scenarios.
Talk to your independent insurance agent about why you might need commercial auto liability insurance, environmental liability insurance, or professional liability insurance to appropriately protect your assets from lawsuits.
Almost every business has at least some cyber risk exposure that needs to be addressed. Any business that possesses valuable or sensitive data faces cyber risks and needs to take steps to mitigate them.
Cyber liability insurance protects your business assets by paying for many of the costs related to a cyber breach and any resulting legal action against you.
Be sure to ask an independent insurance agent about how cyber liability insurance can help you protect your business.
Severe weather events, including thunderstorms, tornadoes, and floods, can cause extensive damage to your Elkhart commercial property.
Commercial property insurance covers your company’s physical assets, including buildings and office space, merchandise, inventory, tools, machinery, computers, and office furnishings when physical damage occurs. Your business property policy covers damage due to fires, severe weather, theft, vandalism, and a variety of other causes of loss.
An independent insurance agent can help you determine if you need more than just a basic commercial property policy. If you live in an area that is prone to flooding, you are likely to need flood insurance designed for businesses. Flood insurance is available from the National Flood Insurance Program (NFIP), and your local agent can help you purchase coverage.
Unexpected events, from minor to catastrophic, can easily damage your building, your suppliers’ buildings, local utilities and more. A tornado or a severe storm can leave you unable to operate for some time while you repair or rebuild your commercial property.
Business interruption coverage, or business income coverage, protects your earnings if your business is unable to operate because of damage caused by a covered event. If you are forced to close your doors for an extended period in order to make repairs, this coverage pays for rent, employee salaries, lost income, relocation fees, and more.
Workers’ compensation insurance is designed to cover medical treatment, lost wages, and other miscellaneous expenses for employees who are injured on the job. It allows you to protect your employees from the costs of these injuries, and it protects you from lawsuits related to workplace accidents.
All employers with one or more employees must purchase Indiana workers’ compensation insurance. Sole proprietors, partners, and LLC members are all excluded from coverage, but can elect to be covered by their workers’ compensation policy.
Corporate officers are included in coverage, but may elect to be excluded.
All independent contractors who work in the building and/or construction trade are required to register with the Indiana Workers’ Compensation Board. Injuries that occur while working as an independent contractor are not covered by Indiana workers’ compensation insurance. Injuries sustained while working as an employee may be covered.
You can purchase Indiana workers’ compensation insurance from any private insurance carrier or agency that is licensed to sell it in the state. Businesses can also self-insure with approval from the state.
A local independent insurance agent can help you learn about the workers’ compensation requirements for your business, and can help you purchase a policy that fits your needs.
An employee benefits plan that includes health insurance, life insurance, vacation and sick time, and other perks helps companies attract and retain top employees. While employee benefits are often complex and expensive, they are a necessary part of keeping your workforce healthy and satisfied.
There are many different employee benefits plans and group insurance policies available for you to choose from. What’s more, you must be in compliance with a number of federal and state regulations when you provide certain benefits to your employees.
A local independent insurance agent can help you learn about your options and find the best employee benefits plans for your budget.
There are many business insurance products and options available to protect your Elkhart business. You probably have a lot of questions, and a local independent insurance agent can help.
An independent agent can work with insurance companies that specialize in the type of work you do. And your agent can help you assess your risks and get quotes from multiple, highly rated insurance companies.
Find an agent in or near Elkhart to get started.