Kearney Nebraska Business Insurance

Your Complete Guide to Kearney, NE Business Insurance

Find the right business insurance policy for you.

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There are more than 150,000 small businesses headquartered in Nebraska, and these businesses employ almost 400,000 people. The small city of Kearney is home to nearly 750 of these businesses. Retail and manufacturing companies tend to do very well in this city, but you can find successful businesses in a wide range of industries here. 

Whether your Kearney business employs hundreds of people or is a small sole proprietorship, a well-built commercial insurance policy can protect the investment you have made in it. With approximately $2.6 billion paid out in commercial insurance claims in Nebraska each year, this coverage is certainly worth investing in. Independent Insurance Agents can help you identify the risks that are unique to your particular business and can recommend the right coverage types to make those risks manageable. Find an agent in or near Kearney to get started. 

Liability Insurance for Small Businesses in Kearney

The costs associated with liability lawsuits frequently exceed $1 million. Liability insurance is, therefore, one of the most important ways you can protect your business. It is designed to absorb the court costs, legal fees, and damages associated with covered liability lawsuits. Commercial general liability coverage (CGL) is included in all commercial insurance policies. Two major components of CGL are:

  • 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. 
  • Product liability insurance:  This can cover your Kearney-based business against lawsuits resulting from injuries, illnesses or property damage caused by products you produce, sell, or promote.

There are several other types of liability insurance you may want to consider. Some examples include:

Every business is different. An independent agent in Kearney can help you identify the types of liability insurance that may be appropriate for your particular business.

Cybercrime Insurance for Kearney Small Businesses

No discussion about liability insurance would be complete without also mentioning cyber crime liability insurance. Nearly all businesses use computers as part of their daily operations. If your company stores sensitive customer data, such as personal or financial data, your business may be at risk for a data breach.

  • 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

Even if your business uses firewalls and secure passwords, sophisticated hackers can continue to find new ways to work around them. If this happens and customer data is stolen, your business can face extremely expensive lawsuits. Cybercrime insurance can prevent these lawsuits from driving your business into bankruptcy. Talk to your local independent agent to learn more about how your Kearney business can benefit from including cybercrime insurance in your business insurance portfolio.

Property Insurance for Small Businesses in Kearney, NE

Severe weather disasters can lead to expensive property damage. Commercial property insurance is designed to cover your business assets, including computers, tools and machinery, inventory, and furniture. 

  • Number of federally declared disasters in NE since 1953: 72
  • Most common reasons for declared disasters: Severe Storms

Kearney businesses are most at risk for damage caused by such hazards as severe storms, tornadoes, and structure fires. Each can cause significant loss and damage to your business-owned property. That is why including sufficient levels and types of commercial property insurance are so important. Flash flooding is also a serious risk in Kearney. Unfortunately, property damage caused by floods is not typically covered by business insurance. Talk to your independent agent to learn more about how you can supplement your coverage with a commercial flood insurance policy through the National Flood Insurance Program (NFIP). 


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Business Interruption Insurance for Kearney Businesses

Business interruption insurance is designed to provide your company with a continuation of income if it is forced to close for an extended period. This may happen if a major disaster strikes Kearney and causes widespread destruction or if the building in which your company is housed burns to the ground. Businesses in Kearney and throughout the state of Nebraska contribute to the overall health of the US economy.

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

Of course, your business cannot generate revenue if it is not operational. That is why, in times of catastrophe, business interruption insurance is so valuable. Business interruption insurance enables you to continue to pay monthly expenses and employee salaries until you can once again resume normal business operations. Talk to your local independent agent to learn more about this important coverage.

Workers' Compensation for Kearney Businesses

If your employees are injured on the job or if they suffer illnesses related to the work they do for your business, your company is responsible for covering associated costs. Workers’ compensation insurance is designed to cover their medical treatments and lost wages, and can even pay death benefits to surviving family members if an injury proves fatal. Having this coverage not only helps your employees, but it can also benefit your company as well. This is because it can protect your business from facing expensive liability lawsuits related to workplace injuries.

Every state has its own laws pertaining to workers' compensation insurance. In Nebraska, most businesses are required to carry it. Exceptions include sole proprietors with no employees, households hiring domestic servants, and certain agricultural operations. You can choose to purchase this coverage through a commercial provider or, if approved, you may self-insure. 

Employee Health Benefits for Small Businesses in Kearney

If your Kearney-based business employs at least 50 full-time workers, you are required by the employer mandate portion of the Affordable Care Act (ACA) to provide them with subsidized health insurance 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

Studies of human resource practices show that offering good benefits such as life insurance and healthcare coverage can help you attract and retain talented employees. An independent agent can help you find and review a wide range of affordable policies.

Why Talk to An Independent Agent?

As a business owner in Kearney, you may benefit from having professional assistance when you build your commercial insurance coverage. Independent agents can help to make a complicated process easy while seeking out the best and most affordable policies to cover your business. 

Find an independent insurance agent in or near Kearney to learn more. You can soon be comparing quotes for suitable policies to cover all the risks your business faces.

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