Commercial Insurance in Missouri

Owning a business is just like owning a home or car. You have to make sure you protect it by obtaining insurance. Things can go wrong that can quickly put your business in financial jeopardy. We offer various business coverage options at Rich Insurance Agency LLC in Kansas City, MO.

Commercial Insurance Requirements

Workers’ compensation and commercial auto insurance are the only two types of commercial insurance that are legally required in Missouri.

Workers’ compensation is required for all businesses with at least five employees, whether full-time or part-time. Workers’ compensation covers medical bills for workers that have been injured or fallen ill while on the job.

Commercial auto insurance is also required for any company-owned vehicle. The following minimum liability requirements must also be met:

• Bodily injury per person $25,000
• Bodily injury per accident $50,000
• Property damage $25,000
• Uninsured coverage per person $25,000
• Uninsured coverage per accident $50,000

Commercial Insurance Coverage

The following are all commercial insurance coverage options available to protect your business:

• General liability- This policy is great for all businesses because it covers customer injuries and more. Your commercial lease may even require you to obtain it. It is also beneficial for customer property that has been damaged.
• Business owner’s policy- This combines general liability and property insurance in one plan. It is best for damaged customer property, business property, and customer bodily injuries.
• Professional liability- This keeps your business protected if you provide professional advice or services. It is best for late or incomplete work, professional negligence lawsuits, and work mistakes.
• Cyber liability- This helps your business cover financial losses resulting from cyberattacks and data breaches. It is best for data recovery, fraud monitoring services, and customer notification expenses.

Quotes

To obtain a quote for commercial insurance, give us a call here at Rich Insurance Agency LLC. We are located in Kansas City, MO.