North Platte Business Insurance

Find the right business insurance policy for you.


The small city of North Platte is home to more than 2,200 of Nebraska’s approximately 150,000 small businesses. Companies in the transportation and retail trade industries do particularly well in this railroad town, but any company that meets the needs of the community has the potential to thrive. 

If you are a business owner in North Platte, you will want to be sure that your company is fully covered by the appropriate business insurance policies. That way, you do not need to worry about your business facing undue financial hardships or bankruptcy that could have been prevented. A local independent insurance agent can help you identify the risks that are specific to your business, and can offer the right insurance types to cover against these hazards. 

Liability Insurance for Small Businesses in North Platte

In the majority of cases, liability lawsuits against businesses end in judgments exceeding $1 million. That is why the liability coverage you include with your business insurance plan is so important. Liability insurance can absorb court costs, legal fees, and damages related to covered liability lawsuits. All business insurance policies include commercial general liability insurance (CGL). This coverage has two main components:

  • Premises liability insurance: To cover the costs of third-party injuries or property damage that occurred on your business property
  • Product liability insurance: To cover the costs of third-party injuries or property damage that occurred due to a faulty product your business produced, sold, or promoted.

Besides your CGL, you may want to include additional types of liability coverage. There are many other liability products available to business owners. An independent insurance agent can help you identify which are right for your North Platte business. Some examples of other liability insurance types include:

There are additional liability products available. Learn which is right for your business by discussing your business needs with an independent agent.


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Cybercrime Insurance for North Platte Small Businesses

No discussion about liability insurance would be complete without also mentioning cyber liability insurance. This relatively new product was introduced to help businesses handle the excessive damage that may occur if their business computers are hacked.

  • 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 with a firewall and passwords, sophisticated hackers can sometimes break through your business’s security system. If these criminals manage to access customer data such as personal information, passwords, and financial data, the damage can be overwhelming and expensive. If your North Platte business uses computers, you may want to talk to an independent agent to learn more about the benefits of including cybercrime insurance at part of your business coverage portfolio.

Property Insurance for Small Businesses in North Platte, NE

Severe weather events can cause a great deal of damage to the property owned by your business.

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

Commercial property insurance is designed to cover your business assets, including computers, furniture, tools and machinery, display cases, inventory, outdoor signs, and more. North Platte businesses are most at risk for damage caused by severe storms, accidental structure fires, and property crimes. Each of these hazards can cause significant loss and damage to your commercially owned property. That is why including sufficient levels and kinds of property insurance is so important. 

Flood damage is also a risk faced by many North Platte business owners. But property damage caused by floods is not typically covered by commercial insurance. Talk to your independent agent to learn how you can supplement your coverage with flood insurance through the National Flood Insurance Program (NFIP). 

Business Interruption Insurance for North Platte Businesses

Small businesses in North Platte and throughout the state of Nebraska make a significant contribution to the health of the national economy.

  • Gross state 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 open and running.  That is why, in times of catastrophe, business interruption insurance is so valuable. This coverage is designed to provide your company with a continuation of income during times when it must close for an extended period due to a covered event. Business interruption insurance enables your company to continue to pay monthly expenses and employee salaries while you focus on repairs. This coverage typically lasts for up to one year.  Learn more by talking to an independent agent.

Workers' Compensation for North Platte Businesses

Sometimes, employees are injured or become ill on the job. This can lead to lost wages and the need for expensive medical care. This is why workers’ compensation insurance (commonly referred to as workman’s comp) is so important. It can cover the costs associated with these injuries so that you and your employees are protected. The more dangerous the job, the higher the cost of this coverage. A company whose employees operate heavy machinery will pay far more than a company whose employees all have desk jobs.

In Nebraska, nearly all businesses are required to carry workers’ compensation insurance. Exceptions are made for sole proprietors with no employees, households with domestic servants, railroads, and some agricultural operations. Plans can be purchased through commercial providers. 

Employee Benefits for Small Businesses in North Platte

Studies show that offering benefits such as life insurance and health insurance can help you attract and retain a great pool of employees. If your North Platte business has at least 50 full-time employees, you are required 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

With so many coverage types and plans available to choose from, deciding which insurance to purchase can be daunting. Fortunately, your local independent agent can offer guidance and help you find and review a wide range of affordable policies. 

Why Talk to an Independent Insurance Agent?

As a business owner in North Platte, you may find it advantageous to get professional assistance when you are building your business insurance coverage. Independent agents can help you identify the various hazards your business faces and find the best insurance solutions to meet your coverage needs. 

Find an agent in or near North Platte to learn more, and discover how easy it can be to build a comprehensive commercial insurance policy.

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