Prestonsburg Business Insurance

The Complete Prestonsburg, KY Business Insurance Guide

Find the right business insurance policy for you.

Known as the “Star City of Eastern Kentucky,” Prestonsburg, KY has a deep-rooted heritage in faith and family. This growing community is one of Kentucky’s best cities for small businesses, with opportunities to appeal to tourists and local residents alike. During previous years, there were 340,746 small businesses in Kentucky, providing employment to 686,517 people. Of course, owning a business is always risky. Recently, loss payouts to Kentucky businesses reached $3,723,405. If you own a business in Prestonsburg, you can protect your investment by purchasing a comprehensive Prestonsburg business insurance plan.

Our Independent Insurance Agents offer personalized support to Prestonsburg’s small businesses that are shopping for reliable commercial coverages. Whether you’re looking for liability insurance, property insurance or cyber crime coverage, our experienced agents can help. Businesses both large and small benefit from liability insurance. 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. Liability lawsuits are more frequent every year, so make sure your business is protected now by investing in the right kind of liability insurance.

  • Product Liability: According to a national study, 71 percent of product liability awards by the courts amounted to $1 million or more. This type of massive payout is enough to cause the vast majority of businesses to fail instantly, but if you have product liability insurance, you have peace of mind. If you do face a lawsuit for a defective product, you are covered, and all the related expenses are paid through your commercial insurance policy.
  • Errors & Omissions/Professional Liability: If your business centers on providing a public service, E&O Liability insurance is the best option. This coverage safeguards your business against claims of negligence, judgment errors or omissions. If you get sued, your professional liability business insurance protects your business assets.

Business Interruption Insurance for Prestonsburg 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

As a small business, you count on every opportunity to turn a profit, and even a small loss of time can result in major revenue losses. If an electrical fire sparks in your commercial building and destroys all of your inventory and the building itself, you have to shut down until repairs are made. In the meantime, you are losing profits every day as your customers are forced to turn to your competitors for products or services. Business interruption insurance saves your small business by compensating you for lost revenue after an unavoidable interruption. It makes it possible for you to get back on your feet and keep chasing your business dreams, even after a terrible tragedy like a fire.

Property Insurance for Prestonsburg Businesses

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

Far too few business owners take time to plan for natural disasters, but property damage adds up to billions for businesses each year. If your Prestonsburg business is damaged in a fire, flood or tornado, you need commercial property insurance to pay for repairs and carry you through the tragedy.

Workers' Compensation for Prestonsburg Businesses

Workers' compensation is a crucial coverage for any small business with employees. This type of business insurance protects your company if an employee suffers from a work-related injury or illness. Your workers' comp policy pays for the employee’s medical bills and lost wages while simultaneously protecting you from an expensive lawsuit.

Employee Coverages for Prestonsburg 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

Finding affordable health and life insurance options for your employees can be a challenge, but our Independent Insurance Agents can help. Our experienced agents will help you compare quotes from multiple policies and find a plan that will work for your business budget. Whether you hire one employee or hundreds, offering a solid benefits package goes a long way toward establishing a loyal staff. Our Independent Insurance Agents can help you choose the best employee coverages at a rate you can afford.

Cyber Crime Insurance for Prestonsburg Businesses

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

Research shows that only 22 percent of small businesses have a response plan in place to deal with cyber attacks and data breaches. Unfortunately, businesses are more and more frequently the target of hackers. You have to take the time to plan ahead if you want to protect your business assets. Cyber crime coverage gives you peace of mind that you’re always covered even if your business suffers a data breach or a cyber attack.

Choosing a reliable business insurance policy in Prestonsburg can be challenging, but our friendly independent insurance agents can help. When you work with an Independent Insurance Agent, you receive one-on-one support, free rate quotes and an experienced guide to help you build a customized commercial insurance solution. If you’re ready to protect your Prestonsburg business against common threats, it’s time to start building your business insurance plan. 

Contact an Independent Insurance Agent today for a free quote on Prestonsburg commercial insurance, and learn more about the steps you can take to keep your small business secure.

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn