The town of Senatobia is one of Mississippi's finest, making any business owner proud to put down roots here. Famous conquistador Hernando DeSoto once explored the area were this city of 7,869 residents is now located, putting it on the historical map.
Senatobia's primary industries are printing, retail, and finance, making it a well-rounded small town. If you own a business in this charming town, you'll need a trusted adviser. You can click on this independent insurance agent tool to find an agent in minutes.
Why Your Senatobia, MS Business Needs Liability Insurance
Commercial general liability insurance, or CGL, provides coverage to protect your business from financial loss when your operations or employees cause property damage or personal advertising injury.
Most Senatobia business owners will need to provide proof that they have CGL insurance, among other coverages, to lienholders and landlords. This will protect their interests as well as yours.
If you don't have a brick-and-mortar location and your business is virtual, you'll still want CGL coverage to cover different parts of your liability exposure. A CGL policy will also protect your business against advertising injury, slander, and negligence. It won't provide coverage for malicious or intentional acts or crimes. Discuss CGL insurance options with your local independent agent to make sure you're well-protected.
When Your Senatobia, MS Small Business Owns a Property
If you're a business owner and a commercial property owner, you've got some valuable assets. The best protection for your commercial property is commercial property insurance. The various hazards that are associated with owning real estate should have the protection they need. The most frequent claims that occur in MS are the following:
- Severe storms and lightning
- Burglary and other property crimes
- Hurricanes and tropical storms
- Flooding and water damage
Your commercial property policy will help pay for the damage from these exposures. It will provide coverage for the structure itself up to the predetermined replacement cost and your business belongings. One thing that may be unknown to general consumers is that you'll need a separate policy for flooding.
Why You Need a Separate Flood Policy:
Each state has flood zones assigned to each area or property. While flooding and water damage can happen to any commercial property, some zones are higher on the list.
Your independent agent can pull up an elevation certificate for your location to determine where your zone ranks. From there, your agent will quote flood insurance based on zoning, location, and structure. FEMA determines the flood zones, and some Senatobia commercial properties may require flood insurance to get a mortgage.
Business Interruption Insurance for Your Senatobia Business
Your small-town Senatobia business could be at risk without business interruption coverage. This coverage can be added to your CGL and is usually an automatic coverage with an option on limits.
Business Interruption Insurance:
This will provide coverage to pay for regular business expenses, such as employee payroll, mortgage or rent, insurance, and more, in the event of a loss.
You can see why business interruption insurance is essential, but most insureds either do not have the coverage at all, or don't have enough. Start discussing your business interruption options with your local agent today.
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Why Your Senatobia, MS Small Business Needs Cyber Protection
Each business is vulnerable to cyberattacks from con artists. With as little as an email address, your business, clients, and financials could be at risk. It's important to speak with your independent agent and discuss your areas of cyber exposure. Let's look at some numbers:
- Number of US identity records exposed in 2019: 164.68 million
- Number of US data breaches in 2019: 1,473
- Identity theft reported each year in MS: 2,409
The reality is that most business owners don't have coverage for cyberattacks. The threat to your livelihood and your clients' data is real and happens often. It's unlikely that your small business has the capital to withstand multiple client lawsuits. It's best to be protected and let the insurance company pay for the risk. Speak with your Senatobia agent and get the cyber coverage your business needs.
What Is Workers' Compensation and Do You Need It for Your Senatobia, MS Employees?
Workers' compensation coverage provides medical benefits and wage replacement to employees who are injured on the job. Senatobia is a small town with a big community, making it difficult to be known as an employer who doesn't protect their employees.
Without workers' compensation insurance, your business may not recover from an employee injury. Over 70% of work-related employee injuries go into disability after 12 weeks. If you don't have a workers' compensation policy, you will have to handle the loss on your own without an assigned adjuster to work on your behalf. The more time that goes by on a claim, the longer your business will have to pay.
While workers' compensation coverage is necessary, it's only a Mississippi requirement when you have five or more regular employees. Talk with your independent agent to determine if workers' compensation insurance is right for your business.
Why Your Business Needs to Offer Employee Benefits in Senatobia, MS
Senatobia takes "historic small town" to another level, and if you have a business here, employees may be hard to come by. Since you have fewer residents than in larger cities, you'll need to have attractive offers to hire top talent. Employee benefits could be the ticket to getting and retaining employees long-term. Let's take a look at the facts:
- Employer health insurance contribution in the US as of 2018: 77%
- Average annual health premiums for family employee coverage in 2019: $20,576
- Average annual health premiums for single employee coverage in 2019: $7,188
If your small business can afford to share the full or partial cost of employee benefits such as health insurance, life insurance, and disability insurance, you should. Excellent benefits, in addition to competitive salary, can keep your staff fully stocked. Get with your local agent to discuss employee benefits plans to suit your company.
How to Work with an Independent Agent in Senatobia, MS
Senatobia, MS is an ideal place to own a small business. If you're not sure where to find the best rates and coverage for your business venture, you're in the right spot.
An independent insurance agent works with dozens of carriers and can find the right coverage at the right price. Go to TrustedChoice.com and find an independent insurance agent for your business today.
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City of Senatobia