Small Business Insurance Topics
Small business owners have a lot to juggle: they are often selling, hiring, keeping the books and even mopping the floors at their companies. One thing that's important not to overlook is making sure your business is adequately protected through property insurance, liabilty insurance and other types. Also, staying competitive often means providing insurance benefits for your employees. DIFP and the National Association of Insurance Commissioners offer this site as a resource for small businesses.
Insurance for your business
- Business interruption insurance
- Coverage for your / in the event of an unforeseen event
- Special information for Ferguson, Missouri businesses
- Commercial auto
- Protecting your small business vehicle fleet
- Property insurance
- Coverage for your building, inventory or other property in the event of damage or theft
- Liability insurance
- Protecting your small business against lawsuits; also known as Commercial General Liability (CGL)
- Home-based business considerations
- The smallest of small businesses have unique insurance needs
Insurance for your employees
- Workers' compensation
- Compare rates, get FAQs, find out how to resolve disputes
- Group health insurance (including federal health care reform)
- Options to consider in providing health coverage for your employees
- Tax-protected accounts (cafeteria plans, HSAs, HRAs)
- Savings accounts can help your employees pay their health care expenses
- Disability insurance
- Options for small businesses providing coverage for employees unable to work
- Group life insurance
- Considerations, risks and plans available for small businesses
- Key person life insurance
- Life coverage for senior employees of a small business
Resources from DIFP & NAIC
- Insurance Consumer Hotline
- File complaints, verify an agent or company are licensed, or ask general questions about insurance
- Insurance glossary
- Definitions of commonly used insurance terms
- Market share reports
- Find out what insurance companies offer the coverage small businesses need
- Consumer complaint index
- Find out what companies have the highest consumer complaint rates
- InsureU for small business
- A page dedicated to insurance needs of small businesses, from the National Association of Insurance Commissioners
Special information for Ferguson, Missouri businesses
If your business was affected by the recent (disruptions/unrest/emergency actions) in the City of Ferguson, your business may have experienced financial losses if your business was forced to close because access to your business was restricted by civil authorities.
In addition to insuring their property against damage, many businesses purchase what is called “Business Income” or “Business Interruption” coverage to insure against financial losses they incur while their business is not able to operate as well as to pay for the additional expenses to resume operations.
If your commercial policy provides “Business Income” coverage, then you may be entitled to reimbursement for your lost income, along with any ongoing operating expenses you were responsible for. Business Income generally covers those financial losses if your business was closed for more than 72 hours and the reason your business closed was because civil authorities restricted access to your business property.
If your commercial policy also provides “Extra Expense” coverage, then you may be entitled to reimbursement for any extra expenses you incurred while your business was closed. Extra expense generally covers any extra expense your business incurs because it was forced to close and to resume its normal operations. This coverage is generally available from when the business was closed.
Where there is financial loss caused by civil authorities restricting access to an insured business, and there is no physical damage to the insured business, the maximum length of coverage is likely limited to three (3) weeks. This is a shorter period of coverage than when there is physical damage to the insured business.