Kansas City Business Insurance

Your Complete Guide to Kansas City, MO, Business Insurance

(Where to find the best rates in town)

Kansas City, MO, is home to steaks, barbecue, and jazz music. With historical roots and a whole lot of flavor, this town is sure to impress. 

A large population of 488,943 residents makes this a diverse place to own a business. To get commercial protection, you need the help of an independent insurance agent. You can get matched with an agent on TrustedChoice.com in minutes.

Why You Need Liability Insurance in Kansas City, MO

If a customer or person sues because of injury, slander, property damage, or advertising injury, you need protection. A commercial general liability or CGL policy will provide coverage.

A CGL policy is the primary insurance that most businesses start with. It will protect your finances when a loss occurs, so you don't have any out-of-pocket expenses. 

If you lease or own a building, your landlord or lender will require proof of a CGL policy. They will also require property coverage for your belongings or structure. 

Another form of protection is umbrella insurance. This will provide an additional limit of liability when a claim exhausts your underlying CGL policy. Connect with your local agent to get the coverage your business needs. 

When Your Kansas City, MO, Business Owns a Commercial Property

A commercial property is a great asset to have, and you'll want protection for all the what-ifs that could occur. A natural disaster, burglary, or fire could pose a threat to your structure. Let's look at the most frequent claims that arise in Kansas City, MO:

  • Floods
  • Storms
  • Tornadoes
  • Winter storms
  • Drought

When you have a commercial property policy, it will help pay for the replacement or repair of your building and belongings. The most common perils are covered except for floods. Flood damage has a separate policy altogether.

Flood insurance for your Kansas City commercial property:

Similar to your homeowners insurance, your commercial property coverage needs to include a flood policy. When the number one risk in Kansas City is flooding, insurance is a good idea. 

Your independent agent can help you obtain coverage through FEMA-approved carriers. By looking up your flood zone, they will be able to determine the best pricing. Connect with your local agent on flood insurance.

Business Interruption Insurance in Kansas City, MO

When you live in a big city, many things could cause your business to come to a halt. Severe weather, catastrophes, and other claims could put your operations on hold. Fortunately, there is business interruption coverage that can help cover the loss. 

Business interruption insurance: This coverage will pay for regular business expenses such as employee payroll, mortgage or rent, and insurance in the event of a temporary shutdown.

Every business has the potential to use business interruption insurance. If you're unsure whether your policy has this coverage or not, speak with your local agent.

Cyber Protection for Your Kansas City, MO, Company

If you use email, then your business could be at risk for a cyberattack. Identity theft of your clients' or employees' sensitive data can occur, holding you liable. Let's look at some numbers on cyber:

  • Number of US identity records exposed in 2019: 164.68 million
  • Number of US data breaches in 2019: 1,473

The fact is, the majority of business owners go without cyber liability protection. Cyber liability will insure your company from a lawsuit arising out of a data breach. If you think you're not at risk, you may want to speak with your agent. Your small business is too valuable not to protect correctly.

Workers' Compensation for Your Kansas City, MO, Business

The state of Missouri and Kansas City requires every employer with five or more employees to carry workers' compensation insurance. Let's see how workers' compensation provides coverage:

  • This pays for medical expenses of an injured or ill employee hurt on the job
  • This pays for lost wages of an injured or ill employee hurt on the job

To avoid costly out-of-pocket expenses that could arise from an injured worker, you need this policy. Discuss options with your independent agent for your workers' compensation insurance.

Employee Benefits Coverage in Kansas City, MO

By offering employee benefits coverage, you'll have a better chance of attracting the right hires and retaining current staff. The cost of healthcare alone is a significant expense to your workers. 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 can consist of a contribution to all or part of the premium amounts of the following policies:

Add value to your employees and discuss employee benefits packages with your independent agent. 

Work with an Independent Agent in Kansas City, MO

To find the right business insurance for a fair price, an independent insurance agent can help. They work with several carriers, giving you options on coverage and price.

When you're not sure where to start, go to TrustedChoice.com. They can match you with a local independent agent today.

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