Forest Business Insurance

(And how to find the best coverage and agent in town.)

Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewed by Candace Jenkins
Reviewed by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.

Updated
Forest Mississippi business insurance

Forest, Mississippi is known for its towering pine trees and small-town life. With industries ranging from restaurants and educational services to health care, this little city has a lot to say.

The 5,655 residents that make up Forest, MS have been loyal to their town from the very beginning. If you own a business, you'll want the right protection. Click on this tool independent insurance to get matched with an independent insurance agent right away.

Why You Need Workers' Compensation in Forest, MS

If you have employees, you'll want to make sure they are well-protected. Your business may not be as safe as you think, and your employees could get injured on the job. The best way to know if your company has workers' compensation exposures is to consult your independent agent. Some safety practices they will look for:

  • If your business holds regular safety meetings.
  • If your business has proper safety equipment when it's needed.
  • If your business has a safety protocol that everyone follows.
  • If your business has assigned a safety officer.
  • If your business has a protocol for when an injury does happen.

It's important to be proactive, and when the worst happens, you'll want to have coverage. A workers' compensation policy will pay for medical expenses and lost wages for an employee who gets injured or becomes ill. They must have sustained the injury or illness while performing work duties.

Each state mandates a certain amount of coverage for workers' compensation insurance. In MS, once you have five regular employees, coverage is required at state minimum limits. Those limits look like this:

  • $100,000 per occurrence for bodily injury 
  • $100,000 per employee for bodily injury by disease
  • $500,000 policy limit for bodily injury by disease

To ensure that you have the right protection, discuss your workers' compensation insurance with a local independent agent.

Liability Insurance in Forest, MS

Every business owner, small-town or not, needs a commercial general liability policy(CGL). The most significant exposure private business owners have is liability claims. If one of your customers falls, becomes ill or sustains property damage as a result of your services, your business is on the hook.

You may want to have products and completed operations coverage as well. This will protect your business after work or services has been performed. Faulty installation or a product that causes damage could result in a lawsuit. Your liability limits on your CGL usually start at the figures below:

  • $1,000,000 per occurrence
  • $2,000,000 aggregate

What's right for your business may be different from another. Get with your local agent to make sure you have the coverage and limits needed.

Business Interruption Insurance in Forest, MS

Every business is at risk for their operations being halted due to a loss. These claims come in the form of storm damage, fire loss, or theft. A business interruption policy will help pay for expenses that arise from a covered loss when your business has to shut down. Your business interruption insurance will cover regular costs like:

  • Mortgage or rent payments
  • Utilities
  • Scheduled maintenance
  • Employee payroll

The state of MS has its share of natural disasters, causing damage to small businesses. MS has had 68 federally declared catastrophes since 1953. Your business could be on the other end of a natural disaster. If your company has to close for a while, make sure you have interruption coverage by contacting your local agent.

Does Your Forest, MS Business Need Cyber Liability?

Many identity thefts occur each year. When your business is a victim, it can put your customers in harm's way. Even if you're an innocent bystander, your company is still liable. Let's look at the numbers:

  • Number of US data breaches in 2019: 1,473
  • Identity theft reports each year in MS: 2,409

A small-town business may not be able to absorb a lawsuit like a larger company. If your customers' personal data gets exposed due to your negligence, the financial losses could be substantial. There are ways that you and your employees can be proactive. 

How to Avoid Cyberattacks:

  • Hold regular cyber meetings with staff.
  • Make sure your computers are adequately protected against malware.
  • Consult with a cyber technician about how to protect your data.
  • Send practice phishing emails to train your employees on what to look for.
  • If you're unsure of a sender, don't open the email.
  • Never click on links from unknown senders.
  • Never use email to share information about you or your clients.
  • Have an in-office protocol for when exposure occurs.

Discuss cyber liability insurance with your independent agent to get the coverage your business needs. 

Employee Benefits for Your Forest, MS Small Business

If you are looking to attract and retain talent, you'll have to offer more than a paycheck. In today's market, employees are looking for their employers to add more value. Healthcare costs have skyrocketed in the past decade and can be a major expense for your employees. Let's look at the facts:

  • Average annual health premiums for family employee coverage in 2019: $20,576
  • Average annual health premiums for single employee coverage in 2019: $7,188

Your employee benefits offerings can include things like health insurance, disability insurance, and life insurance. Some other coverages could be added, such as gym memberships or a coffee allowance. It depends on what culture you are trying to instill in your business.

A creative benefits plan could be a selling point for future candidates down the road. Get with your Forest independent agent to discuss employee benefits coverage.

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Commercial Property Insurance in Forest, MS

In the state of MS, there are five major threats to your commercial property. The damage that any of these losses create could be a substantial financial exposure. 

Top Five Forest, MS Property Exposures:

  1. Severe storms and lightning
  2. Burglary and other property crimes
  3. Hurricanes and tropical storms
  4. Tornadoes
  5. Flooding and water damage

You'll want commercial property insurance to provide coverage for any damage to your property. The primary items that are covered under your commercial property policy are as follows:

  • Replacement or repair of your building up to the replacement cost
  • Replacement of your business belongings up to the listed property limit

The one exposure your commercial property policy excludes is flood damage. A separate flood insurance policy is needed to cover a flood loss.

Flood Insurance Basics in Forest, MS:

Your commercial property has a flood zone assigned by FEMA. An elevation certificate can be pulled by your agent to see what zone your building is located in. From there, your independent agent can quote your flood insurance through FEMA-approved carriers.

Find a Forest, MS Independent Agent Today

Your business has enough work to do without having to worry about insurance. An independent insurance agent is a knowledgeable resource when it comes to protecting your assets. 

A local agent knows the area and has access to dozens of carriers for your small business. On TrustedChoice.com, you can connect with a Forest independent agent in minutes, saving you time and money. 

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