Council Bluffs Business Insurance
How your policy can keep you protected
Written by
Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.
Home to Pikes Peak Gold Rush and steamboat trades, Council Bluffs, Iowa, was at the epicenter of American history.
Now a historic city of over 62,316 residents, Council Bluffs, is a great place to own a business. When you need insurance protection, connect with an independent insurance agent on TrustedChoice.com
Why Your Council Bluffs Commercial Property Needs Insurance
A natural disaster, fire, or burglary could cause significant property damage to your commercial building. An independent agent will need the following information to run a quote:
- Year built
- Materials used
- Occupying operations
- Replacement cost
- Protective devices in place
- Total square footage
- Prior loss history
The midwest is known for harsh winters and a lot of seasons. When you live in Council Bluffs, you'll want a business policy to cover the major exposures. The five most common property claims reported are:
- Flooding and water damage
- Severe storms and lightning
- Tornadoes
- Severe ice storms and freezing
- Burglary and other property crimes
Your commercial property insurance will not provide coverage for flood damage. With flooding as Iowa's number one occurrence, you'll want a separate insurance policy in place.
Three steps to flood insurance in Council Bluffs, IA:
1.) Connect with your local independent agent
2.) Have your agent pull your flood zone and quote with FEMA approved carriers
3.) Choose the best flood insurance option presented
Liability Insurance in Council Bluffs, IA
A commercial general liability or CGL policy will protect your business from a lot of exposures. A CGL proof of insurance is required when you own a building, rent a space, or work with another client who asks for it.
CGL policy protection:
A CGL policy will protect your company's financial interests in the event of a lawsuit. This applies to a claim associated with bodily injury, slander, or advertising injury to another party. With limits starting at $1,000,000 per occurrence and $2,000,000 aggregate.
Your agent may suggest higher base limits depending on your assets and risk of operations.
Cyber liability insurance:
A cyber liability claim can occur when your company becomes vulnerable to identity theft. When your sensitive information is hacked, your business could be liable for the damage caused. Let's look at the numbers:
- Number of US data breaches in 2019: 1,473
- Identity thefts reported in IA in 2019: 1,910
When your customer's personal data is stolen because of a cyberattack on your business, you'll want protection. A lawsuit can occur, and a cyber liability policy will pick up the associated legal fees.
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Business Interruption Insurance in Council Bluffs, IA
If your company has to halt operations due to theft or disaster, there's always a chance you may not be able to reopen. When you have business interruption insurance, you can safeguard your company from this occurrence.
Iowa's natural disaster facts:
- The number of federally declared natural disasters since 1953: 62
- The average number of tornadoes per year: 49.2
- The number of floods per year: 27
Business interruption insurance will help pay for regular expenses like mortgage, rent, utilities, and employee payroll. A preselected limit of time for coverage to last is usually set at 12 to 24 months. Speak with your Council Bluffs agent to get business interruption insurance.
Employee Benefits Coverage for Your Council Bluffs Staff
Employee benefits coverage can attract and retain staff members for your business. With the rising costs of healthcare, life, and disability insurance, your employees could use the help. Let's look at the facts:
- Average annual health premiums for family employee coverage in 2019: $20,576
- Average annual health premiums for single employee coverage in 2019: $7,188
To show added value, you can help pay for healthcare costs and other policies for your employees. With over 77% of private employers contributing to these expenses, you'll want to stay ahead of the curve. Talk with your independent agent on an employee benefits package to suit your needs.
Workers' Compensation Insurance in Council Bluffs, IA
In Council Bluffs, IA, you must carry workers' compensation insurance when you employ one employee or more. State-mandated limits are usually the following:
- $100,000 per occurrence for bodily injury
- $100,000 per employee for bodily injury by disease
- $500,000 policy limit for bodily injury by disease
Workers' compensation insurance will pay for medical expenses and lost wages when an employee gets injured or ill on the job. If you want to be proactive and help lower premiums, your company can do the following:
- Hold regular safety in the workplace meetings
- Assign a safety officer
- Have a detailed safety procedure when an injury or illness occurs
- File workers' compensation claims immediately
- Discuss plans of action with your independent insurance agent
Your independent agent can go over how much coverage your business needs to stay well protected.
Find a Council Bluffs Independent Insurance Agent
Your business insurance should be customized to your specific operations and risk exposures. An independent insurance agent can help gather the facts and run quotes with several carriers.
They have options on coverage and pricing to fit your budget. Connect with a local independent agent on TrustedChoice.com to start saving.