Elizabethtown Business Insurance

The Complete Elizabethtown Business Insurance Guide

Find the right business insurance policy for you.

Elizabethtown, KY has a long history of successful small businesses. From the early settlers who founded the town in 1779 to today's budding entrepreneurs, business owners have found this city to be a welcoming place to chase their dreams. Like much of the Bluegrass State, Elizabethtown offers some great incentives to encourage small business development. During previous years, there were 340,746 small businesses in Kentucky, providing jobs to 686,517 people. However, recent years also brought some serious risks for business owners, with $3,723,405 paid out for losses. 

Our Independent Insurance Agents can help you minimize the risks with comprehensive Elizabethtown business insurance. Our experienced agents can walk you through your commercial insurance options and help you build a customized plan to protect your business against liability, property damage, and cyber crimes. Liability coverage is the starting point for any small business insurance policy. According to a recent Travelers Business Risk Summary, 60 percent of small-business owners ranked medical cost inflation as their highest concern and more than 30 percent said they felt least prepared to handle this issue. Settling a liability lawsuit can get expensive to settle, so make sure your company can stay afloat by investing in the right kind of liability coverage.

  • Product Liability: Product liability protects your company in case one of your products causes property damage or bodily injury. If someone claims that your products caused them injury, you could be facing a hefty payout for medical bills. According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more. Most small businesses just can't afford to pay this kind of expense without going under, so make sure you're prepared in advance with product liability coverage.
  • E&O/Professional Liability: For companies that offer services rather than selling retail products, professional liability coverage is the way to go. This kind of policy protects you if a customer alleges that your opinion or advice caused physical or psychological harm. 

Business Interruption Insurance for Elizabethtown Businesses

  • Recent Gross domestic product: 2.2%
  • Recent Kentucky gross state product: 1.6%
  • The recent GSP was 0.6% lower than the recent GDP

Business interruption insurance can be a lifesaving policy for small businesses. If your business property is damaged by a tornado and you have to shut down to rebuild or make serious repairs, you could lose thousands of dollars in profits to the competition. Business interruption insurance pays you back for these lost profits so you can get back to work without having to start over from scratch. 

Property Insurance for Elizabethtown Businesses

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

Summer storms are often severe in Elizabethtown, and tornadoes are also a frequent problem. Recently, a major tornado traveled down Hodgenville Road causing serious damage to the homes and businesses in its path. Property insurance is a valuable asset to small businesses because it will pay for repairs if your business happens to be in the path of the next major storm. 

Workers' Compensation for Elizabethtown Businesses

Most small businesses really depend heavily on employees to carry out daily operations. But if an employee gets injured on the job, this can lead to devastating financial losses. Workers' compensation makes it possible to pay for employee medical care after a work-related accident or injury and protects you from costly lawsuits in the aftermath. 

Employee Coverages for Elizabethtown Businesses

  • Total recent spending on premiums in Kentucky: $697,974
  • Ranked 25th for the highest premiums in the U.S.
  • Annual cost of health care for small businesses in recent years: $5,077/person or $15,463/family

One of the most frustrating challenges for small businesses is finding affordable health care and life insurance policies for employees. These benefits can go a long way in helping you build a reliable, loyal staff. Our Independent Insurance Agents can provide quotes on multiple policies, giving you the chance to compare premiums and find health care coverage that is affordable for both you and your staff. 

Cyber Crime Insurance for Elizabethtown Businesses

  • 2,358 Identity theft complaints in Kentucky in recent years
  • Ranked 43rd highest for identity theft complaints in the U.S.

Even though cyber theft is a growing problem in Kentucky, only 22 percent of small businesses have a response plan in place to deal with cyber attacks and data breaches. If a hacker managed to steal your company's financial information, how would you respond? Cyber crime insurance protects your company's assets and ensures that you won't lose your hard-earned profits if you do become the victim of a cyber attack. 

Finding the best small business insurance for your company starts with a call to our friendly Independent Insurance Agents. If you're not sure how much coverage you need or how much you can afford, our experienced agents can help. Our Independent Insurance Agents can provide you with multiple quotes on different coverage options and help you build a customized commercial insurance plan to protect your company. 

Contact an agent today to get your free quote and learn more about Elizabethtown business insurance. 

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