The city of Columbia is home to colleges and the arts. With three major schools that focus on theatrical performances, this is a lively city.
If you own a business in this college town of 121,717 residents, you'll need commercial insurance. A local independent insurance agent can get the coverage you need for a fair price. Connect with an agent today.
Liability Insurance for Your Columbia, MO Business
The liability insurance in your business policy is crucial coverage. Called commercial general liability (CGL), this policy will protect your company from various lawsuits. Take a look at the types of cases it can apply to:
- Medical expenses for bodily injury to a customer who falls on your property
- Slander by you or a member of your staff
- Property damage to another party
When you own a business in Columbia, you need to have an adequate CGL policy. The usual limits of liability start at $1,000,000 per occurrence and $2,000,000 aggregate. Another form of liability insurance is an umbrella policy.
A lot of businesses have umbrella insurance to provide additional limits of liability over their underlying policies. That way, if a larger claim occurs, you won't have to worry about your CGL policy limits being exhausted. Connect with your local agent to get pricing on liability coverage.
Commercial Property Insurance in Columbia, MO
If your business owns a commercial property, you'll want protection. The cost to replace a building can be a considerable expense. Several things can affect your commercial property and create a loss. The most frequent claims that occur in MO are the following:
- Severe storms and lightning
- Flooding and water damage
- Severe ice storms and freezing
- Burglary and other property crimes
A commercial property policy will help pay for damage to your structure and belongings. It will repair or replace your property if it is damaged by natural disasters, severe weather, theft, or fire. One item it will exclude is flood damage. For that, you'll need a separate policy.
A Separate Flood Policy
FEMA has assigned flood zones to each property across the US. These zones identify the likelihood of a flood. Regardless of what zone you are in, a flood could happen anywhere to any property.
A Columbia, MO independent agent can look up your flood zone and quote flood insurance. Connect with an agent to get your commercial building protected.
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Business Interruption Insurance in Columbia, MO
At any moment, a natural disaster or large claim could cause your operations to come to a halt. If you are looking to have proper protection, you'll need business interruption insurance.
Business Interruption Insurance
This coverage will help pay for your regular business expenses when you have to stop operations for some time. It will pay for basic items such as rent, mortgage, payroll, and utilities when your cash flow has stopped due to a loss.
The majority of business owners don't have business interruption coverage, or don't have enough. Speak with your independent agent to make sure you have business interruption coverage in your commercial insurance.
Cyber Protection for Your Columbia, MO Business
Every business is at risk for a cyberattacks. Personal data for you, your employees, or your customers is on the line. All it takes is one click, and your company could be facing a lawsuit. Let's look at some numbers on cybercrime:
- Number of US identity records exposed in 2019: 164.68 million
- Number of US data breaches in 2019: 1,473
The majority of business owners today don't have cyber liability coverage at all. This means they are more likely to pay out of pocket when a predator attacks. To avoid a data breach, consult an expert. Your local independent agent can help you prepare and protect your business from cyber risks.
Worker's Compensation for Your Columbia, MO Employees
When an employee gets injured or ill on the job, your company is liable. With worker's compensation insurance, you won't have to worry about paying for medical expenses or lost wages when a claim arises.
Over 70% of work-related injuries go into long-term disability after 12 weeks. The more time that goes by, the longer your company will be exposed to financial loss.
In Missouri, worker's compensation insurance is required at the state minimum limits when you have five employees. To better protect your company, speak with your Columbia agent about worker's compensation coverage.
Employee Benefits in Columbia, MO and Your Company
Your business needs to stay competitive to attract and retain employees. Employee benefits could be just the thing to help your future hires choose your company. 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
Employee benefits coverage will share or pay for the cost of employee health care, life insurance, and disability insurance. Of course, your benefits offerings can include any coverage you'd like. To put together a package that will wow your staff, connect with your agent.
How to Work with an Independent Agent in Columbia, MO
When searching for the best Columbia, MO business insurance, a trusted adviser can help. A local independent insurance agent can quote your coverage with multiple carriers.
This can save you time and money when it comes to insurance shopping. Connect with an independent agent on TrustedChoice,com and start saving.