Columbus Business Insurance

Your Complete Guide to Columbus, NE Business Insurance

Find the right business insurance policy for you.

Nebraska is home to more than 150,000 small businesses that employ almost 400,000 people. More than 2,100 of these businesses are located in Columbus, NE. Manufacturing and construction companies tend to do quite well in this city, but Columbus is also home to successful businesses in a wide range of other industries. Insurance companies pay out approximately $2.6 billion in commercial insurance claims to Nebraska businesses each year. Make sure that your business in Columbus gets the compensation it deserves by covering it with suitable business insurance. An independent insurance agent can show you how to find the right policies at the most reasonable rates.

Liability Insurance for Small Businesses in Columbus

General liability coverage is an important component of every commercial insurance policy. It is designed to cover your business against the costs associated with many common liability risks. When you consider that the majority of liability lawsuits result in judgments that exceed $1 million, you can see why this coverage can prove very valuable to your company. Your independent agent may talk to you about several different types of liability insurance such as: 

  • Premises liability insurance:  This is designed to cover third-party injuries, illnesses, and property damage that occur as a result of accidents on your business premises. It is included in your general liability coverage.
  • Product liability insurance:  This can cover your Columbus-based business against lawsuits resulting from injuries, illnesses or property damage caused by products your company produces, sells or promotes. It is also a part of your general liability insurance.
  • Professional liability insurance:  This is also known as errors and omissions insurance. It is designed to cover people in professional positions against charges of errors in judgment and other professional mistakes. 

Every business is different. Sometimes, additional liability coverage is needed in order for your business to be fully covered.  Depending on your business type, your independent agent in Columbus may recommend additional coverage such as commercial vehicle liability insurance.

Business Interruption Insurance for Columbus Businesses

Businesses in Columbus and throughout the state of Nebraska contribute to the health of the national economy.

  • Gross domestic product (GDP) for the US: 2.2%
  • Gross state product (GSP) for Nebraska: 3.0%
  • The GSP is 0.8% greater than the GDP

Unfortunately, your business cannot generate revenue if it is not operational.  That is why, in times of crisis, business interruption insurance is often vital. Business interruption insurance is designed to provide your company with a continuation of income during times when you must halt operations for an extended period due to forces beyond your control. This might happen if a major disaster strikes Columbus and causes widespread destruction or if your business burns down due to an accidental fire. Business interruption coverage makes it possible for you to continue to pay monthly expenses and employee salaries until you can once again resume normal business operations. This can prevent your company from going bankrupt.

Cybercrime Insurance for Columbus Small Businesses

Cybercrime insurance is a relatively new type of liability insurance coverage that is offered to businesses. It can provide your company with protection against lawsuits that may result if criminals manage to hack into your business computer system and steal sensitive customer information such as credit card numbers, stored passwords, or personal data.

  • Number of identity theft complaints in Nebraska per year: 914
  • Ranked 46th highest for identity theft complaints in the US
  • Only 22% of businesses have a cyber/data breach response plan

If your business, like most businesses today, stores customer data electronically, you may want to talk to your local independent agent about cybercrime insurance. Your agent can help you review quotes for this important liability coverage.

Property Insurance for Small Businesses in Columbus, NE

Commercial property insurance is designed to cover the property owned and used by your business. This includes items such as computers, tools and machinery, outdoor signs, display cases, merchandise and inventory, office furnishings, and more. 

  • Number of federally declared disasters in NE since 1953: 62
  • Most common reasons for declared disasters: Severe Storms and Floods

Severe weather in the Columbus area could lead to expensive damage to your business's property. A tornado could cause your business to experience a total loss, or a lightning storm could spark a damaging fire. It is therefore important that you cover your business with a sufficient amount of property insurance. Businesses in Columbus also face a significant risk of flood damage. Unfortunately, property damage caused by floods is not covered by most business insurance policies. If you are concerned about flood damage, be sure to ask your independent insurance agent to help you secure commercial flood insurance through the National Flood Insurance Program (NFIP).

Workers' Compensation for Columbus Businesses

Even if you take precautions to prevent it, employees sometimes get injured on the job. Should this happen, your business is responsible for covering their medical treatment, lost wages, and other miscellaneous expenses. The same holds true if an employee gets sick due to exposure to toxic substances while on the job. Fortunately, workers’ compensation insurance can cover the costs associated with these workplace injuries. It can even provide death benefits to family members if a workplace injury proves fatal.

Every state has its own laws pertaining to workers' compensation insurance. In Nebraska, most businesses are required to have it. Exceptions include sole proprietors with no employees, domestic servants, railroad employees, and certain agricultural operations. You have the option of purchasing coverage through a commercial provider or, if approved, you may self-insure. 

Employee Health Benefits for Small Businesses in Columbus

If your Columbus-based business has at least 50 full-time employees, you are required by the Affordable Care Act (ACA) to provide them with subsidized health care coverage. 

  • Average amount spent on healthcare coverage by NE businesses: $305,001
  • Ranked 16th for highest medical insurance costs in the US
  • Average annual cost of health care in NE: $5,431/person or $14,616/family

Human resource professionals know that offering your employees benefits such as life insurance and health insurance can help you attract and retain a solid workforce. Your local independent agent can help you find and review a wide range of affordable health care policies. That way, you can choose the coverage plan that provides the best value to your company.

Why Talk to an Independent Agent?

Business owners in Columbus can save time and money when they work with an independent insurance agent. These agents can help you identify the many risks your business faces and can help you find affordable insurance solutions to cover you against them. Because they work with several different insurers, these agents can offer you coverage at highly competitive rates.

Find an independent agent in or near Columbus to get more information and start comparing business insurance quotes.

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https://www.census.gov/quickfacts
https://www.fema.gov/disasters
http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.nfib.com/content/legal-compliance/legal/workers-compensation-laws-state-by-state-comparison-57181/
https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/alter-benefits-attract-retain.aspx
http://www.city-data.com