No matter how you pronounce the city name, Louisville is a great location for both Kentucky and Indiana residents to open a business. Part of the Great Lakes Megalopolis, a diverse population encourages new businesses and economic growth. Companies in the region range from small mom-and-pop owned bakeries, to mid-size local businesses that have opened several locations, and large industrial corporations. While each business has a specific market and purpose, they all need some form of Louisville, KY business insurance.
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Top Louisville Companies
- United Parcel Service
- Humana, Inc.
- Norton Healthcare
- Jewish Hospital Healthcare
- Ford Motor Company
- GE Consumer & Industrial
Louisville Business Insurance Assessing Risk
When trying to determine just what kind of insurance you need and how much you need, it’s best to analyze the risks that your company faces. A 24-hour diner in the downtown region won’t face many of the same risks as a clothing store chain. Some companies employ commercial vehicles while others have no physical location. Your independent agent will need to know several things before the right policies can be found.
- Business needs
- How do you interact with customers?
- Do you have employees? How many?
- What do you produce?
- How safe is your building?
- Is the equipment up to date?
- Do you store valuable information online?
The right coverage truly depends on your business. As a business owner, you lead a busy lifestyle so it may seem like a simple process to purchase commercial insurance online; but by purchasing insurance online, you leave yourself vulnerable. A common Louisville business insurance package for a downtown restaurant could look like this:
- Liability insurance: If a patron becomes sick from your food, you could face a possible lawsuit. This coverage pays for legal fees.
- Property insurance: When a storm blows shingles off the roof, this coverage can help with repairs once your deductible is met.
- Flood insurance: Located on the river, the risk for a flood is high but coverage isn’t offered in a property policy.
- Commercial truck insurance: This policy provides coverage in case your food truck is involved in an accident.
- Equipment breakdown coverage: With expensive appliances, this policy could be worth the added premium.
Louisville Business Insurance Costs
The cost of your Louisville business insurance policy will depend on the size of your business as well as the policies you elect. A small business with limited liability risks could find an insurance policy for less than $500 while large businesses could pay thousands of dollars. If you’re concerned about price, contact an agent. Your member agent will work to find affordable rates and you may even qualify for certain discounts.
An independent agent can help you find a policy made for your company at a rate you can afford. Our independent agents who specialize in Louisville business insurance will compare policies, options, and quotes. It only takes a few moments to locate a member agent right in your area.