Business Insurance in Brookfield, WI

Brookfield, WI, is a popular, leafy suburb west of Milwaukee.

There are over 452,000 small businesses in Wisconsin and nearly 5,000 businesses in Brookfield.

Whether you own a small or a large business in Brookfield, you need business insurance to protect you when something goes wrong. An independent insurance agent can help you compare business insurance quotes in Brookfield, WI to choose the best coverage.

How Much Does Business Insurance Cost in Brookfield, WI?

Insurance companies evaluate your company's unique characteristics to determine how much you'll pay for your insurance coverage. That’s why business insurance costs in Brookfield will differ for every business.

The following factors, and others, influence your business insurance premiums:

• Your annual gross sales and payroll
• Your average employee count
• The size and physical location of your business
• The value of your physical assets (buildings, vehicles, machines, equipment, inventory, etc.)
• The nature of your business (what do you do?)
• Your prior insurance claims history

Why does your company’s location matter? If, for example, your business is located in an area more prone to problems like crime or natural disasters, you’ll pay more for business insurance in Brookfield because you are more likely to file a property damage claim.

In Wisconsin specifically, there have been 54 federally declared disasters since 1953. Federally declared disasters usually occur because of events like tornadoes, floods, or wildfires. Moreover, everyday events can unexpectedly damage your commercial property at any time. The main risks for property damage in Wisconsin are:

• Severe storms and lightning
• Flooding and water damage
• Tornados
• Heavy snow
• Burglary and other property crimes

Working with an independent insurance agent who understands all the risks you face in Brookfield, WI is important.

Is Business Insurance Required in Brookfield, WI?

Wisconsin law does not require most types of business insurance. If your business owns even one vehicle, you must purchase commercial auto insurance that complies with Wisconsin’s car insurance laws. Your commercial auto insurance must have liability coverage up to the following minimum limits:

• Bodily injury liability: $25,000 per person/$50,000 per accident
• Property damage liability: $10,000 per accident

Bodily injury liability insurance covers you if you are at fault in an accident and someone other than yourself is injured. Property damage liability insurance covers damage to another person's vehicle or property in an accident that is your fault.

In addition, Wisconsin law requires workers’ compensation insurance under the following circumstances:

• You usually employ three or more full- or part-time employees.
• You employ one or more full- or part-time employees to whom you have paid combined gross wages of $500 or more in any calendar quarter.
• You are a farmer who employs six or more workers on the same day for any twenty days during the calendar year.

Workers' compensation insurance helps injured workers pay for the costs of medical care and lost wages if they are injured on the job.

State law does not require other types of business insurance in Brookfield. But most business owners will need commercial property and general liability insurance to protect their assets adequately.

What Does Business Insurance Cover in Brookfield, WI?

A comprehensive business insurance program in Brookfield, WI will typically include the following types of coverage:

• Commercial general liability (CGL) insurance: Protects your business from lawsuits related to bodily injury and property damage claims. It pays for medical expenses, legal fees, and financial settlements or judgments. Your CGL policy even covers personal injury claims such as libel and slander.
• Commercial property insurance: This covers damage to a building and its contents if damaged by a weather event, fire, theft, vandalism, or other covered perils.
• Business interruption coverage: Protects your earnings if your business cannot operate because of damage after a fire, hail, wind, equipment breakdown, or another covered event. If you are forced to close your doors for a while to make repairs, this coverage pays for rent, employee salaries, lost income, relocation fees, and more.
• Commercial auto insurance: Protects your business-owned cars and trucks from property damage and liability claims.
• Workers’ compensation insurance: Pays for medical expenses and a portion of an employee's lost wages after a work-related injury.

Business insurance programs will be different for every company in Brookfield. An independent insurance agent who understands your unique company can recommend the specific coverage you need.

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What Does Small Business Liability Insurance Cover in Brookfield, WI?

Liability insurance is critical for any small business in Brookfield, WI. Small business liability insurance is essentially lawsuit coverage.

The main building block of your liability protection will be a commercial general liability (CGL) policy. It will provide broad protection for a wide range of lawsuits and negligence claims, especially those that accuse your business of being responsible for damaging property or injuring someone.

A CGL policy has two major coverage components:

• Premises liability insurance: Covers third-party damage, injuries, or illnesses that occur due to an accident on your property.
• Product liability insurance: Covers third-party damage, injuries, or illnesses caused by a defect in a product your company produces, sells, or promotes.

Remember that CGL policies usually exclude coverage for certain kinds of lawsuits. You'll likely need additional small business liability insurance to cover certain types of potential claims.

Talk to your independent insurance agent about why you might need cyber liability insurance, professional liability insurance, employment practices liability insurance, or any other kind of customized small business liability protection.

Are There Any Small Business Health Insurance Plans in Brookfield, WI?

Health insurance and other employee benefits can help you encourage and support a healthy and satisfied workforce. What’s more, you may be eligible for certain tax benefits if you offer health insurance to your employees.

Many different small business health insurance plans are available in Brookfield, WI. A local independent insurance agent can help you find affordable small business health insurance near you.

What Are the Best Small Business Insurance Companies in Brookfield, WI?

It can be simple to find the best small business insurance companies in Brookfield, WI. A local independent insurance agent can help you get business insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.

How Can an Independent Insurance Agent Help Me Find the Best Business Insurance in Brookfield, WI?

Instead of getting an online quote, find an independent insurance agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of business insurance quotes in Brookfield to help you make the best choice.  

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Contact an agent today for a free, no-obligation consultation.