Independence, MO was the childhood home of former US president Harry S. Truman. What used to be a western fur trade port is now known more for its religious communities.
If you're a business owner in this city with 117,306 residents, you'll need commercial protection. A local independent insurance agent can help find coverage and pricing options. Connect with an agent to get started.
Your Independence, MO Commercial Property and Insurance
Natural disasters, theft, and fire are just some of the occurrences that could cause a loss to your commercial property. To protect your structure and business belongings, get a commercial property policy. Your business insurance shouldn't be left to chance. You'll want to give your independent agent the following information:
- The year your commercial property was built
- The market value of your commercial property
- What protective and security devices are in place
- The total square footage of the structure
- If you have filed any prior claims
- If you rent out the location and what operations the tenants perform
Every state and city has common weather happenings that could impact your property. In Missouri, the top five most reported property claims are as follows:
- Severe storms and lightning
- Flooding and water damage
- Severe ice storms and freezing
- Burglary and other property crimes
The one exclusion your commercial property policy has is flooding and water damage related to flooding. For this, you'll need a separate flood insurance policy.
Flood Insurance Coverage in Independence
First, an independent agent needs to pull your property's elevation certificate to find the flood zone. Then they can quote coverages with FEMA-approved carriers and present the best option. Get with your Independence agent to get quotes for your flood insurance.
Cyber Liability Insurance in Independence, MO
If an online predator steals your customers' sensitive data, your business is liable. Cyber liability insurance will protect your financial assets against a lawsuit. Let's look at some numbers:
- Number of US data breaches in 2019: 1,473
- Number of US identity records exposed in 2019: 164.68 million
Your business's reputation could be at risk if a cyberattack occurs. The best form of protection is to be proactive. You can take the following measures to safeguard your company:
- Hold regular cyber safety meetings with staff
- Train employees on what to look for when a cyber thief is trying to hack the system
- Consult with a local cyber expert
- Make sure your systems are protected against malware
When you're small business is lacking in proper coverage, one cyber claim could put you under. Connect with your independent agent to see how much a cyber liability policy will cost your business.
Liability Insurance for Your Independence, MO Business
The most significant exposure your business has is liability claims. Commercial general liability, or CGL, insurance can provide coverage for your company and its assets.
By protecting your business's financial interests, a CGL policy commonly pays for lawsuits arising out of:
- Bodily injury
- Property damage
- Advertising injury
Average liability coverage limits start at:
- $1,000,000 per occurrence
- $2,000,000 aggregate
If you want to have enough insurance for a larger lawsuit, an umbrella policy can help. Umbrella insurance will provide an additional limit of liability above and beyond your underlying CGL policy limits. Once your limits are exhausted, umbrella coverage will apply.
Business Interruption Insurance and Your Independence, MO Operation
Business interruption insurance is financial protection for when your operations or services are interrupted. If a covered loss occurs, this insurance will pay your regular expenses. The expenses it will pay for are the following:
- Vendor fees
Since 1953, there have been 68 federally declared catastrophes in Missouri. That's over one per year, and the chances of severe weather impacting your business at some point are high. Connect with your local agent to get quotes on business interruption insurance.
Employee Benefits Coverage in Independence, MO
Independence, MO is a larger town where the workforce is competitive. The primary industries are healthcare, construction, and finance. When diverse career opportunities are available, finding good employees may be challenging. Employee benefits can help attract the right talent so you can offer value.
Average Annual 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
With the job market getting tighter, you'll need to show your employees you care. Employee benefits coverage can help them pay for health care, life insurance, and more. Connect with your independent agent to put together a package that works.
Worker's Compensation Insurance in Independence, MO
Your business is required to carry the minimum limits for worker's compensation coverage in Missouri. Once you have five employees or more, you are required to have this insurance.
Worker's compensation will pay for medical expenses and lost employee wages when they get injured or ill because of their work. Even if you have one employee, you should consider this coverage.
A worker's compensation policy could save you thousands of dollars in expenses if a staff member needs coverage. When you are without a policy, your company is liable. Discuss worker's compensation options with your local independent agent.
Connect with an Independent Agent in Independence, MO
Your company's business insurance is important. It's what keeps your operations afloat. When you have a knowledgeable independent insurance agent, you are getting the best policy in town.
They can provide options that other agents can't because they work with multiple carriers. To start saving time and money, connect with a local independent agent at TrustedChoice.com.
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