Managing a business takes skill and dedication not only to make money, but also to protect it. You have to be vigilant about your outgoing expenses, and take great strides to prevent major losses. Insurance is one of the most effective tools for loss prevention, and we here at Midwest Insurance Solutions can help you find the coverage you need to safeguard your assets.
Coverages for Most Businesses
We work with many different industries, offering access to a wide range of coverage from multiple insurers across the State of Iowa. We want to be your source for coverage both now and in the years to come. As an independent agency, we connect with our clients and get to know the unique challenges they face as business owners in their fields. We serve clients in a wide range of fields, including:
- Consultants and advisors
- Technology companies
- And much more
Many of our customers qualify for consolidated insurance policies called Business Owners Packages (BOP Insurance). This type of coverage helps streamline your coverage into one policy and premium that is easier to manage and often more affordable than purchasing coverages individually. BOP insurance is not right for all businesses and does not include all necessary business coverages. We can help you determine if it could be a good fit for you.
Types of Insurance
Most businesses have common risks that require the same types of insurance protection. Some of the most common business insurance coverages include:
If your business is sued for third-party property damages, injuries, or other loss, general liability insurance can help cover the cost of defending your company in court. If you lose your case, this coverage can also pay for judgments against your business up to the limits of your policy. Talk to your agent about risk exposures in your business and the types and amounts of liability protection you may need.
If you employ workers in your business, you need workers compensation insurance. This coverage compensates hurt employees for medical bills and lost wages due to on-the-job injuries.
Property and Asset Coverage
There is a lot of value in your business’s physical assets. Whether you own an office building that you lease to commercial tenants or have very expensive equipment you use for product manufacturing, you need insurance that protects against partial or total loss. Property insurance helps cover the things you own against covered events, from theft and vandalism to fire, smoke, wind, and more.
When bad things happen to businesses, the costs go beyond the initial damages. If your business is forced into temporary closure due to a covered event, this coverage can help pay for your ongoing expenses, from mortgage payments to payroll.
Commercial Vehicle Coverage
You rely on your commercial vehicles for deliveries, appointments, and more. Whether you have one commercial car or an entire fleet of trucks, we can help you get the coverage that maintains state regulatory compliance and also gives your business the protection it needs against physical damages and accident-related liability.
Unique Coverage Add-Ons
In addition to standard business insurance coverages, we here at Midwest Insurance Solutions can help you determine if you need extended coverages or endorsements for risks that are unique to your industry. For example, an accountant may need professional errors and omissions coverage to protect against client losses due to errors made on a tax return. Similarly, a restaurant owner may need extra coverage that protects against liquor liability or food contamination liability.
Whatever your field, we can help you get the coverage you need.