Commercial Insurance
Find the right commercial insurance coverage for your unique needs.
You’ve worked hard to build your business, and we’re here to help protect it and you. No matter what industry your business falls under, Midwest Bank Agency has the business insurance that helps protect you and your business’ future.
Commercial Insurance
The last thing you want to think about as a business owner is something happening that would set you back financially. Midwest Bank Agency is here to help protect you, your business, and your future. We have commercial insurance coverage policies that address specific risks to your business and can help to ease your mind and prepare you for the unexpected.
What does our business insurance cover?
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Damage from a vehicle
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Explosion
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Falling objects
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Fire & smoke
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Lightning
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Sprinkler damage
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Theft
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Vandalism
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Windstorm/hail
Types of Business Insurance Coverages
Property
Provides coverage for physical assets, such as buildings, equipment, inventory, and furnishings, protecting businesses from losses due to events like fire, vandalism, theft, or natural disasters.
Liability
Provides protection against legal claims for bodily injury, property damage, or personal injury as a result of business operations, including coverage for legal expenses and settlements.
Commercial Auto
Provides coverage for vehicles used for business purposes, offering protection for liability, physical damage, and injuries to employees or third parties resulting from accidents involving these vehicles.
Worker’s Compensation
Provides coverage for medical expenses, wage replacement, and rehabilitation for employees who are injured or become ill while on the job. It is often required by law to carry this insurance for your business.
Commercial Umbrella
Offers additional liability protection beyond the limits of primary insurance policies, such as general liability or commercial auto insurance, providing higher coverage limits for unforeseen and costly legal claims or lawsuits. It acts as a safety net, ensuring your business has sufficient coverage for potentially significant liabilities.
Frequently Asked Questions
What does a commercial insurance policy cover?
Typically, a commercial insurance policy covers a range of risks of a business, such as:
- Property – protection for physical assets, including buildings, equipment, inventory, and furnishings, against perils like theft, vandalism, fire, and natural disasters.
- Liability – protection against legal claims for bodily injury, property damage, or personal injury resulting from business operations, including legal expenses and settlements.
- Commerical Auto – protection for vehicles used for business operations, including liability, physical damage, and injuries to employees or third parties in case of accidents.
- Worker’s Compensation – coverage for medical expenses, wage replacement, and rehabilitation for employees who are injured or become ill while on the job, typically required by law.
- Commercial Umbrella – additional liability protection beyond primary insurance policies, offering higher coverage limits for costly legal claims or lawsuits.
Who’s covered under my business auto policy?
Typically, business auto coverage extends to:
- Employees – driving company-owned vehicles for business purposes.
- Named Insured – the business itself is considered the primary insured entity, covering business-owned vehicles and any employees driving them.
- Permissive Users – individuals who have permission to use a business-owned vehicle for business purposes, even if they are not employees.
- Non-Owned Auto Coverage – optional coverage that can extend protection to vehicles not owned by the business but used for business purposes, such as employee- owned vehicles used for work-related tasks.
Are owners covered under a worker’s compensation policy?
Owners and business principals are typically not automatically covered under a worker’s compensation policy, as they are usually considered business owners and not employees. However, in some states and circumstances, if you are a business owner, you may have the option to include yourself in the worker’s compensation coverage.
We can help you check the state’s worker’s compensation authority and determine the specific requirements and options available to you as a business owner.
What will my business policy cover?
A typical business insurance policy provides coverage for your business’s physical assets, such as buildings, equipment, and inventory, protecting against perils like fire and theft.
It also includes liability coverage for legal claims, covers losses in the event of business interruption, and can be customized with additional coverage options like cyber liability, workers’ compensation, and more to address specific risks in your industry and operations.
We can help you to determine the exact coverage you need to suit your business’s unique needs.
Why do I need business insurance?
Business insurance is a critical tool to help protect your business, comply with legal requirements, and ensure financial stability in case you face unexpected events or liabilities. It can help you avoid potential fines and legal penalties as well as protect your business from severe financial losses. It offers you peace of mind, allowing you to focus on running your business without worrying about unforeseen financial setbacks.
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Disclosure
We are an independent insurance agency. We represent a multitude of companies. We are a full service agency. Our agents are licensed in property & casualty, flood, commercial, business, farm, crop, livestock, health, life, & bonds. To contact any of the agents above, use our online contact form.
Not a Deposit. Not FDIC insured. Not insured by any federal government agency. Not guaranteed by the bank. May go down in value.
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