Fulton Business Insurance

Your Complete Guide to Fulton, MS Business Insurance

(And how to find the right independent agent.)

Fulton Mississippi business insurance

The city of Fulton, MS was named after the inventor of the steamboat, Robert Fulton. This charming town of 4,011 residents has top businesses in the health care, educational, and furniture manufacturing industries. If you're a business owner here, you'll want adequate protection. 

There are local independent insurance agents in Fulton that can find business insurance through multiple carriers, saving you time and money. Connect with an independent agent  to get started. 

Retain Workers in the Small Town of Fulton, MS with Employee Benefits

With the majority of private business owners contributing to employee healthcare, you can't afford to be left behind. Your business needs to thrive in Fulton, and since the population is low, you'll want to attract and retain top talent. The healthcare costs for your employees have skyrocketed in the last five years. Covering some or all of that expense could help your business. 

Average Employee Health Insurance Costs:

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

Employee benefits insurance can be as creative as you'd like. Each employer has its own employee offerings, depending on their culture and budget. Let's look at what you might include in your employee benefits plan:

  • Health insurance: Either full or partial contribution would suffice, depending on your budget. 
  • Disability insurance: This can be a short-term or long-term plan paid partially or in full by your business.
  • Life insurance: A term or permanent life insurance policy can be added in the amount that works best for your budget and your employees' age and health. 

Get with your local independent agent to discuss your employee benefits. Come up with a plan that will work for your business and keep your employees happy.

Why Your Fulton, MS Business Needs Workers' Compensation Insurance

Businesses in MS have to carry workers' compensation insurance once they employ five staff members. Although the state has specific mandates, that doesn't mean you won't need workers' compensation coverage before then. This insurance will provide coverage for employee medical expenses and lost wages resulting from work-related injuries or illness. 

Workers' Compensation Minimum Policy Limits:

  • $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

Your business may need more coverage than the minimum limits. Discuss your coverage options with your independent insurance agent.

Business Interruption Insurance in Fulton, MS

Several risk exposures could put your business out of service for some time. Severe weather, a fire, or burglary could all cause your company to shut its doors. With business interruption insurance, you won't have to worry about paying your regular expenses during a crisis. This insurance will cover things like:

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

The state of MS has been on the map for federally declared disasters. More than one catastrophe has occurred each year in MS since 1953. That's 68 natural disasters that could have halted your operation. Speak with your independent insurance agent and get the coverage your business needs.

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Cyber Liability Insurance in Fulton, MS

The number of data breaches, identity thefts, and cyberattacks each year is staggering. The internet is easy money for some con artists. If your business falls prey to the theft of data, you could be held 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

Your Fulton business may not withstand the financial risk associated with a cyber liability claim. If you're not correctly insured, you could be personally sued to cover your customers' losses. Here's the best way to avoid a cyberattack:

  • Hold regular cyber meetings with staff.
  • Send out practice phishing emails to train your employees about what to look for.
  • Make sure your computers and servers are adequately protected against malware.
  • Consult with a cyber technician about how to protect your data.

Discuss cyber liability options with your trusted adviser and get the coverage you need. 

Your Fulton, MS Commercial Property

Your Fulton, MS commercial property needs protection from many perils. The most common are storm damage, fire damage, and theft. Your commercial property insurance will provide coverage for things like:

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

The Most Common Property Incidents Reported in MS:

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

The one risk your commercial property policy won't cover is flood damage. For that, you'll need a separate flood insurance policy through your agent.

Flood Insurance in Fulton, MS:

FEMA assigns each property to a flood zone. Your zone can be found on your elevation certificate. This zone is used to determine your rates with FEMA-approved insurance providers. Talk with your local agent to get quotes for flood coverage.

Liability Insurance for Your Fulton, MS Business

The most common exposure your small business has is liability claims. If a customer slips and falls, or an employee slanders another company, you'll need liability insurance. Your independent agent may suggest these limits of coverage:

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

Commercial General Liability Insurance or CGL:

A CGL policy will protect your business from lawsuits resulting from bodily injury, slander, or advertising injury. There is also additional coverage for products and completed operations. Your business will want protection even after a product or service is delivered.

A local independent agent can quote your CGL insurance with dozens of carriers to find coverage at a competitive price.

Connect with a Fulton Independent Insurance Agent

Building your business wasn't easy, but finding the right protection doesn't have to be hard. An independent insurance agent can compare quotes with multiple carriers at once. This allows you to have the best coverage for a reasonable price.

You can find a Fulton independent agent on TrustedChoice.com. They have a find-an-agent-tool to get you start on your way to better coverage in minutes. 

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