Waukesha Business Insurance

Your Complete Guide to Waukesha, WI, Business Insurance

(Find the best insurance products to cover your small business)

Waukesha Wisconsin business insurance

Waukesha businesses are crucial to the health of the area's economy. Keeping local companies running smoothly is a top priority for local independent insurance agents. 

Business insurance provides financial protection for companies during times of trouble. A comprehensive insurance plan that includes all legally necessary policies can be difficult to construct. Let an insurance agent in Waukesha, WI, help you get started today. 

Why Do Businesses in Waukesha, Wisconsin Need Liability Insurance?

Business liability insurance is the backbone of a good commercial insurance policy. It covers a company's legal fees, court costs, and financial damages during a lawsuit associated with a covered event. Even if the courts rule in favor of the business, costs can still be crippling to a smaller company. 

Here are some of the commercial liability products available:

  • Premises liability insurance: This coverage includes expenses for third-party injuries, property damage, and illnesses as a result of an accident on your property. 
  • Product liability insurance: This coverage includes third-party injuries, property damage, and illnesses caused by defective products that your business sells, promotes, or produces.
  • Employment practices liability insurance: This coverage includes lawsuits related to accusations of discrimination, breach of contract, harassment, wrongful termination, and other illegal employment practices. 
  • Cyber liability insurance: This coverage includes damage as a result of hackers accessing your customers' sensitive personal information through your computer system. 
  • Pollution liability insurance: Cleanup costs and damage after an incident where your business is responsible for pollution of the air, ground, or water can be expensive. This coverage handles those costs for a covered incident. 
  • Commercial vehicle liability insurance: If your business owns or operates vehicles, this coverage is required by law. It covers your company's liability risks if you or one of your employees causes an accident. 

Your local independent insurance agent can walk you through your commercial liability options and recommend any additional coverage that makes sense for your business.

What Insurance Products Cover Your Waukesha Business Property?

Companies located in Waukesha are statistically most likely to have damaged property as a result of  severe storms and floods. Commercial property insurance covers a company for many standard risks. Adding specialized property insurance may be necessary to get coverage that extends beyond your computers, merchandise, inventory, supplies, and furniture. 

  • Inland marine insurance: This coverage includes portable business property while it's in storage offsite or in transit to or from your place of business. 
  • Boiler & machinery insurance: This covers replacement or repair of a broken furnace or other machinery as well as business losses resulting from associated malfunctions. 
  • Bailee's insurance: This covers property owned by someone else while it's in your company's possession. 

Commercial property insurance doesn't cover flood damage, even if the flood is a result of a covered storm or other weather event. Flood damage is expensive, so it's important to consider commercial flood insurance. 

Your agent can recommend the coverages you need to protect your business. 

Why Is Business Interruption Insurance a Good Idea in Waukesha, WI?

Major disasters damage your business, but they can also force you to close your doors for an extended period of time while you rebuild and repair your building. There were 54 federally declared disasters in Wisconsin between 1953 and 2018. The majority of these disasters were severe storms, floods, and tornadoes. 

Closing for even a few weeks could cause lasting financial damage. Business interruption insurance provides income that you can use to pay normal monthly bills, keep your employees on the payroll, and keep up with your loan payments.

Your agent can help you understand how business interruption insurance works and whether it could work for your company. 

Do Businesses in Waukesha Need Workers’ Compensation Insurance?

Waukesha business owners are legally required to provide a safe and healthy place for their employees. Even with safety precautions in place, accidents can happen. 

If one of your employees is injured at work or they become ill as the result of something that happens at work, a workers' compensation insurance policy provides financial support. 

All employers in the state of Wisconsin are required by law to cover their full-time and part-time employees with workers’ compensation insurance under these circumstances:

  • They have three or more employees on the payroll
  • They pay one or more employee more than $500 in gross wages during any calendar quarter for work done at locations inside the state of Wisconsin
  • They are farming, and employ six or more workers during one day for any 20 days per calendar year. 

Workers' compensation insurance rates depend on the statistical likelihood that your employees will be injured on the job. A Waukesha independent insurance agent can help you find an insurance company that specializes in providing workers' compensation insurance for businesses like yours. 

What about Insurance Products for Employee Benefits Packages?

Healthcare coverage is expensive, and offering a subsidized plan to your employees can provide them with a great deal of financial relief. Having a good benefits package can also help your business attract and retain top talent in Waukesha. 

You have a lot of options when it comes to choosing a health insurance and life insurance plan for your employees. It can be difficult to wade through your choices. A Waukesha independent insurance agent is here to help you choose benefits that are good for your employees and fit into your company's budget. Although healthcare coverage can be expensive, offering subsidized coverage to your employees can have cost-saving benefits.

Why Work with an Independent Insurance Agent in Waukesha, WI?

Insurance companies understand that risks vary from one business type to the next. You need an insurance agent who can help you get the combination of coverage you need at a great rate. 

An independent insurance agent in Waukesha can help you build the perfect comprehensive business insurance policy package for your company. Get started today by contacting an agent right away. 

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https://www.census.gov/quickfacts

https://www.fema.gov/data-visualization/disaster-declarations-states-and-counties

http://www.naic.org/prod_serv/AUT-PB-14.pdf

https://www.nfib.com/content/legal-compliance/legal/workers-compensation-laws-WI-by-WI-comparison-57181

https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/alter-benefits-attract-retain.aspx

https://dwd.wisconsin.gov/dwd/publications/wc/WKC_13328_p.htm#:~:text=Under%20the%20Worker's%20Compensation%20Act,upon%20employing%20a%20third%20person.

http://www.city-data.com