Leland Business Insurance

Your Complete Guide to Leland, MS Business Insurance

(And how to find the best coverage and a local agent.)

Leland Mississippi business insurance

The city of Leland is known for cotton, corn, soybeans, and rice. If you live in this town of 3,981 residents that's singing with history, you might own a business. Though small, Leland is an iconic spot for blues and entertainment.

The primary industries in Leland, MS are education, hospitality, and agriculture. If your small business is one of these or provides services to these industries, you'll want business insurance. Click on this independent insurance matching tool to be find a local agent fquickly.

Why Your Leland, MS Business Needs Liability Insurance

Liability is perhaps your biggest exposure when owning a business. Living in a small town where everyone knows your name can make it easy to forget that claims can still occur. Your business needs protection for anything that comes its way. Commercial general liability insurance is the central policy that most of your other commercial insurance stems from.

Commercial General Liability Policy: 

Also known as CGL, this is a policy to protect your business's financial interests in the event of a lawsuit. It will cover bodily injury, slander, or advertising injury to another party. 

All of these exposures can be done by accident by you or an employee, which still makes you liable. Most CGL policy limits start at the following:

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

You'll also want to discuss products and completed operations coverage with your independent agent. Once the work is finished, you're still not off the hook. If you install a bathtub and 24 hours later it leaks all over, causing extensive damage, your company will be legally obligated to respond. 

Why Your Leland Small Business Needs Cyber Liability

No matter how small the business or how little the town, cyber attacks can happen to anyone. If you use email for your business, you're at risk. It only takes one click to be in a virtual mess that could cost you thousands of dollars to fix. Let's look at the facts:

  • Number of US identity records exposed in 2019: 164.68 million
  • Number of US data breaches in 2019: 1,473
  • Identity theft reports each year in MS: 2,409

There is no such thing as hiding when you're on the world wide web. That's why your business needs proper cyber liability insurance. It will help pay for the damage done when you expose your clients' personal data by mistake. Get with your independent insurance agent to discuss cyber coverages and why your company needs them.

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How to Protect Your Leland, MS Commercial Property

Leland, MS is known for severe weather that could be damaging to your business property. If you own a commercial building or business belongings such as office furniture or inventory, property insurance is what you need. 

The Top 5 Most Reported Property Claims in MS:

  • Severe storms and lightning
  • Burglary and other property crimes
  • Hurricanes and tropical storms
  • Tornadoes
  • Flooding and water damage

Your commercial property policy will pick up the loss by paying for the structure and business belongings covered under your policy. Limits are predetermined when you obtain commercial property insurance. The one exposure that is not covered under your commercial property policy is flooding. For that, you'll need separate flood coverage. 

Why You Need Flood Insurance in Leland, MS:

Leland, MS, is no stranger to flooding. Flooding and water damage made the top five risk exposures in MS as a whole. If you're going to skimp on coverage, don't let it be flood insurance. Let's look at how flood insurance works:

  1. Get your independent agent to pull your elevation certificate. 
  2. Your elevation certificate determines your flood zone, and your agent can now quote your flood insurance. 
  3. Select one of the options that your agent presents to you for flood insurance.

Speak with your independent agent to determine which flood zone your commercial property is located in and how to get protected.

Why You Need Business Interruption Insurance in Leland, MS

Your business may experience a time when it has to shut down This can be due to a fire, a natural disaster, or another liability loss. If a covered loss occurs, resulting in a sudden halt of operations, business interruption insurance will apply. 

Business Interruption Insurance:

This will pay for business expenses during a shutdown of operations resulting from a covered claim. It can cover things like rent or mortgage payments, payroll, and more. 

There is a chance that your business will have to shut down for some time, especially since hurricanes are a likely factor. When hurricane Katrina came roaring through MS, business owners had to evacuate and close their doors. Your Leland agent can discuss how business interruption coverage works for your company in a crisis.

How to Attract Workers with Employee Benefits in Leland, MS

Seventy-seven percent of private businesses had contributed to employee health insurance as of 2018. That's the majority, which means you have stiff competition. Employees want to feel valued, and they usually want you to show it with good benefits and pay. If you operate a small Leland business, you'll need to attract employees with more than a paycheck. Let's look at the costs of health insurance:

  • 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 Leland agent can set up the perfect employee benefits plan for your company. The program you put in place can have your business contributing to health insurance, disability insurance, life insurance, and more. Your employees work hard for your company. Show them you care by covering their essential needs.

Why Your Leland, MS Business Needs Workers' Compensation

Your employees are what holds your business together. Day-to-day operations wouldn't be possible without the help of valuable employees. When one of your key players gets injured on the job, your workers' compensation insurance will provide coverage. 

In 2017, over $318,000,000 was paid in benefits to injured workers in MS. If you try to go at it alone, your business may not be able to handle the expense. An employee who gets injured could drag out recovery, making you pay more money. An employee who still has not recovered from a work injury within 12 weeks is over 70% more likely to collect disability. 

That's a significant expense your company would pay out of pocket without the proper policy in place. In MS, the state requires that your business carry workers' compensation insurance once you have five employees. Your independent agent can go over the importance of having protection from the beginning and find the best rates.

How to Find an Independent Agent in Leland, MS

There are a lot of options for business insurance. It's easy to get lost in the insurance jargon if you're not a licensed adviser. An independent insurance agent works with dozens of carriers, saving you money and time.

Your Leland, MS agent knows the area and how to protect your business. Go to TrustedChoice.com and connect with a local independent agent today.

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