National Business Insurance Stats
Number of businesses in the US: 30,819,176
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. of businesses | Burglaries / 1,000 people | Auto thefts / 1,000 cars |
| Ames | 4,202 | 2.02 | 0.85 |
| Cedar Rapids | 9,807 | 6.25 | 2.72 |
| Council Bluffs | 4,321 | 8.47 | 7.87 |
| Davenport | 7,994 | 7.28 | 3.35 |
| Des Moines | 16,543 | 10.46 | 6.01 |
| Dubuque | 5,122 | 2.38 | 1.1 |
| Iowa City | 5,912 | 4.06 | 0.92 |
| Marion | 2,552 | 2.93 | 1.23 |
| Sioux City | 5,904 | 7.83 | 3.01 |
| Urbandale | 3,813 | 1.21 | 0.81 |
| Waterloo | 4,613 | 7.61 | 1.91 |
| West Des Moines | 6,644 | 2.24 | 1.07 |
Business Insurance in Iowa FAQ - Quick Answers
The premiums you'll pay for small business insurance will be individualized and based on your unique risk factors. Some key items that carriers use when quoting your coverage are listed below:
- Type of industry
- Number of employees
- Gross annual sales
- Location of business
- Number of company vehicles
- Safety practices in place
- Past claims reported
- Number of years in operation
In Iowa, you are required to carry workers' compensation insurance when you have one employee or more. If you're using company-owned vehicles, then you'll need to obtain some amount of state-mandated auto insurance. Other policies are not required in most cases, but are crucial if you want to avoid additional risk.
Your Iowa small business insurance will be required to carry specific coverages by law, and other policies are needed to avoid paying out of pocket. While coverage is individualized, here are some common options for your operation:
- General liability insurance: Pays for a bodily injury or property damage liability lawsuit brought against your operation
- Workers' compensation insurance: Pays for the injuries of an employee hurt on the job. Mandatory when you have just one employee or more.
- Business auto insurance: Pays for a loss resulting from an auto accident with a company-owned vehicle. Must abide by state car insurance laws.
- Professional liability insurance: Pays for a lawsuit against your business due to negligent or harmful advice.
- Commercial umbrella insurance: Provides an additional limit of liability coverage over your underlying business policies.
There are numerous liability policies to choose from when obtaining small business insurance. Some will be more necessary than others, depending on your risk and business. Here are some of the most-used liability coverages for businesses:
- General liability insurance: Pays for a bodily injury or property damage liability lawsuit brought against your operation
- Professional liability insurance: Pays for a lawsuit against your business due to negligent or harmful advice
- Commercial umbrella insurance: Provides an additional limit of liability coverage over your underlying business policies
Health insurance for your small business is typically optional unless you have 50 employees or more. Offering health coverage can be a useful idea to look into. Check with your independent insurance agent for health insurance options.
Small businesses everywhere search for the best coverage for an affordable price. In Iowa, Nationwide, Hanover, Travelers, and Stillwater insurance companies are top-rated by consumers. This is due to their custom coverage options and superior service.
Do You Know What Your Business Insurance Covers in Iowa?
Find the Best Insurance in Your City
- Des Moines, IA
- Business Insurance Common Coverage Options
- Property
- The high property crime rate in Des Moines makes it particularly important for you to make sure that your business assets are sufficiently covered against risks like theft and vandalism. In addition to covering against crime, your policy can also cover loss and damage due to hazards like severe weather and accidental fires.
- Commercial Auto
- If your business owns a vehicle or a fleet of vehicles, you may benefit from having the added liability coverage that comes with a commercial auto insurance policy. This is because liability lawsuits often result in higher judgments when they are brought against businesses. Your rates will be based on several factors, including the number and types of vehicles you are covering, information about the employees who will be driving them, and the risk of collisions in your city.
- Workers' Compensation
- Workers' compensation insurance can cover the cost of medical bills and lost wages if your workers are injured on the job. Rates are based primarily on your company’s overall payroll and the likelihood that your employees will be injured based on the types of jobs they do.
- Cedar Rapids, IA
- Commercial Insurance Common Coverage Options
- Property
- You will want to be sure that all of your business property is covered at levels that will allow you to rebuild, repair, or replace as needed. Floods pose a significant risk in Cedar Rapids, but this risk is typically excluded from business property coverage.
- Commercial Auto
- Whether you are insuring a delivery van or a fleet of semi-trucks, commercial vehicle insurance can protect your company against losses related to liability risks and property damage. If your business engages in interstate commerce, your coverage needs to meet state and federal requirements so that your business is operating within the confines of the law.
- Workers' Compensation
- Workers' compensation insurance is required by state law for nearly all employers in Cedar Rapids. This insurance can cover medical treatment, lost wages, and other costs associated with injuries that occur on the job. Every type of business has its own risks when it comes to employee safety. Some jobs are simply safer than others. That is why workers' compensation rates often vary significantly from one business industry to the next.
- Davenport, IA
- Business Insurance Common Coverage Options
- Property
- Hazards like theft, vandalism, and accidental fires can lead to costly business property losses. So can damage caused by Davenport’s damaging weather events like hail, heavy winds, and severe storms. Fortunately, when you have the right business insurance in place, your company will be able to repair the damage and continue to function without experiencing a large financial loss.
- Commercial Auto
- Commercial auto insurance can protect your business from facing large liability costs if one of your drivers causes an accident in a company car. Rates are based on a number of factors like your employees’ driving records and the types of vehicles you are covering. It costs far more to insure a 12-passenger van than a cargo van since your liability risks are greater when you have passengers.
- Workers' Compensation
- Workers' compensation insurance is designed to cover the cost of medical treatment, lost wages, and other expenses related to injuries or illnesses your employees may suffer while doing their jobs. It is required for nearly all Iowa businesses that have employees. Workers' compensation rates are assigned according to your company’s overall payroll and the types of jobs your employees do.
- Sioux City, IA
- Commercial Insurance Common Coverage Options
- Property
- Having a sufficient amount of business property insurance can shield your company from losses related to hazards like accidental fires, property crimes, and severe weather events like tornadoes and electrical storms.
- Commercial Auto
- If your Sioux City business owns a vehicle or fleet of vehicles, you will need to carry commercial auto insurance. Rates for coverage can vary according to the number and types of vehicles you are covering, as well as the risk of collisions and vehicle theft where your employees will be driving. If you engage in interstate commerce, you will need to make sure that your coverage meets federal as well as state minimum coverage requirements.
- Workers' Compensation
- Workers' compensation insurance covers medical expenses and paid time off for employees who suffer occupational illnesses or are injured on the job. With few exceptions, if your Sioux City business has employees, you are required by law to have this insurance. Rates for coverage can vary significantly from one business to the next, depending on the types of jobs your employees do and your company’s overall payroll.
- Iowa City, IA
- Business Insurance Common Coverage Options
- Property
- Most businesses invest a lot in their assets such as computers, furniture, tools, machinery, and supplies. Business property insurance can help cover the cost of repairing or replacing this property if it is lost or damaged by a covered event like a tornado.
- Commercial Auto
- Many businesses in Iowa City have company-owned cars, trucks, vans, or buses. If yours is among them, you will need to cover these vehicles with a commercial auto insurance policy. Doing so can prevent your business from facing a financially devastating lawsuit if one of your drivers is responsible for a serious accident.
- Workers' Compensation
- Workers' compensation insurance covers expenses like medical bills and lost wages for workers who are injured in the course of doing their jobs. It is required for nearly all Iowa businesses that have employees. Rates for this coverage are assigned according to your company’s overall payroll amount and the types of jobs your workers do.