If you are a small business owner in Omaha, NE it’s fundamental to understand the Nebraska business requirements. Establishing a business is an income-generating project though it comes with unique inherent risks. These risks can sometimes interfere with your business operations. However, acquiring spectacular commercial insurance from Ed Thompson Insurance Agency will safeguard your profits as your business thrives. Do you need commercial insurance in Omaha, NE to guard your business venture as it thrives to its full potential? We at Ed Thompson Insurance Agency customize insurance plans designed to suit your business insurance needs and budget.

Is commercial insurance a must in Nebraska?

Commercial insurance is not legally required in Nebraska. Nevertheless, the law requires every business entity with one or more employees, whether seasonal or permanent, to maintain workers’ comp insurance to cater to medical expenses for work-related injuries and general sickness. The state-advocated coverage requirement is inadequate. Therefore, scouting for other optional coverages is paramount. They include:     

General liability coverage: Imagine what can happen when your customer sustains an injury at your business premises? This policy safeguards your business from claims of bodily injury or property damage from third parties. In addition, it’s designed to cater to the probable medical bills, libel, slander, and related legal fees.

Commercial auto insurance: If your business venture owns vehicles, this type of policy is best suited for this purpose. It covers damages and injuries inflicted on other people if your driver is found legally responsible for the occurrence of an accident.

Data breach insurance: Did you know that your online business in Omaha, NE is susceptible to cyber-attacks? Worry no more because you can avert this malpractice by investing in a data breach policy. It safeguards your business from data breaches and cyber-attacks.

Do you have outstanding commercial insurance at your disposal in Omaha, NE to avert significant financial ruin that may throw your business operations into disarray? Call or visit us at Ed Thompson Insurance Agency for more information about commercial insurance coverage.

Business owners face risks every day in Omaha, NE. Though these risks are not the same as homeowners face, they are still risks that require insurance protection. In addition, some risks business owners face are more significant than others and need different kinds of insurance coverage. After reading this, give us a call at Ed Thompson Insurance Agency for help answering all of your business insurance questions. 

Below are common risks business owners face: 

Liability Risk

Regardless of the type of business, all businesses face a liability risk. Common liability risks include bodily injury, physical damage, and failure to meet contractual obligations. A general liability insurance policy protects you and your employees whenever conducting business for accident-related damages your company is liable to cover. 

Property Risk

All businesses face property risks. Having adequate commercial property insurance protects you against accidents, hazards, and natural disasters that could impact your inventory, equipment, and physical property. 

Commercial Auto Risk

Auto use related to your business includes taking employees out to lunch, making a delivery, or traveling to a meeting. Commercial auto insurance protects your business when a personal or company vehicle is used for any business-related purposes. 

Business Interruption Risk

Unexpected events, such as a fire or natural disaster, could force a business to close. The closure presents a risk of lost revenue, negatively impacting business operations. Business interruption insurance covers the company should it be forced to close, including all fixed expenses, relocation costs, and lost revenue. 

Cyber and Data Risk

Cyber threats and data breaches are rising and becoming increasingly common. As more of our business is conducted online, we have a greater need to protect ourselves from these threats. Cyber liability insurance covers your business against these threats by providing legal coverage, notification costs, and providing system disruption coverage. 

Omaha, NE business owners need to ensure they are protected from all possible risks. Call the experts at Ed Thompson Insurance Agency today for additional information about potential business risks and how to keep yourself and your company protected. 

If you have a business in Omaha, NE, you need to have a commercial insurance policy to take care of the liabilities and catastrophes that your company might be facing. Ed Thompson Insurance Agency helps many business owners in this region find commercial insurance that benefits their business, as shown below.

Prevents Business Collapse

Every business today is facing significant risk and uncertainty that can happen at any given time. There are possibilities of natural disasters like floods and earthquakes that can destroy the business. Fire can consume everything in a matter of minutes, which means that the company might collapse. However, with commercial insurance in place, everything will be restored, and the business will continue operating. 

Enhances Business Credibility

Today, customers are conducting background checks before they determine whether to do any business with an organization. One of the most important aspects that most customers are checking is whether a business is insured. Companies that are bonded, licensed, and insured build trust, a primary recipe for a company’s growth and success. 

Protecting Your Workers

Besides all the tools and equipment, employees stand as the most important resources that an organization has. Therefore, protecting them and making sure that they feel protected is necessary as it promotes business success. With commercial insurance, employees are covered in multiple areas such as possible injuries, medical expenses, and replacement of lost income after an injury in the workplace. 

As a business owner in Omaha, NE, you might have a perception that avoiding commercial insurance will save you thousands of dollars in insurance premiums. However, it may expose you to possible business collapse or possible loss of millions of dollars. Contact Ed Thompson Insurance Agency and get a commercial insurance policy that meets your commercial operations’ needs.

Every state has its own rules about how small businesses operate. Part of those rules is the types of commercial insurance your business must-have. There are two that are required by Nebraska law, but there are also other types that can add to your legal and financial protection. For more information, call us at the Ed Thompson Insurance Agency in Omaha, NE.

Commercial Auto Insurance

When your business owns a vehicle, it’s required for each of these vehicles to be covered by a commercial auto insurance policy. If you try to get by with a personal insurance policy on the vehicle, it will not only be illegal, but the personal policy likely won’t pay out if there is an accident. The commercial policy that you have must have a specific, state-mandated minimum for bodily injury liability for the accident as a whole as well as per person injured. It must also have a specific amount of property damage liability. The policy must also have the legal minimum of coverage for an uninsured motorist protection per accident and person. If you have a vehicle that gets used for business a lot but is not owned by the business, it should have a hired and non-owned coverage policy. 

Workers’ Compensation Insurance

Nebraska’s law requires that every business that has any number of employees must have workers’ compensation insurance coverage. This is true, no matter how many employees you have and whether they are part-time or full-time. This coverage helps the workers by having coverage available to pay their medical bills for accidents and sicknesses that occur on the job. It also helps the business by having that coverage in place so that the medical bills don’t have to be paid out of pocket.

Talk to an Insurance Agent

If your business needs commercial insurance, call us at Ed Thompson Insurance Agency in Omaha, NE to talk to an insurance agent about your business and its commercial insurance needs.

If you operate a business, then it is all but a necessity that you have commercial insurance to protect both the company and your employees. In fact, Nebraska law requires that all small businesses – regardless of the number of full or part-time employees – carry both workers’ compensation insurance and commercial auto insurance if there are any company vehicles. Workers’ compensation insurance covers the cost, up to your policy limits, of any work-related injuries or illnesses. In contrast, commercial auto insurance ensures that regardless of whether they are driving a company vehicle or their personal vehicle on company time that they are covered for any accidents. 

Failure to carry commercial insurance can have serious consequences. For starters, you would be in violation of state law, which could result in substantial fines and other serious legal repercussions. Also, if one of your employees is injured while on the job or a vendor slips and falls at your location because of negligence, then you would be on the hook for all of their medical expenses and damages if sued, which ultimately could cost you the business. As a result, carrying commercial insurance offers substantial peace of mind and protects your livelihood from potential financial ruin. 

When it comes to shopping for commercial insurance, it is imperative to choose a company that has your best interests in mind. Consequently, if you are in the Omaha, NE area, look no further than the Ed Thompson Insurance Agency. With our vast experience in the insurance industry, we are uniquely positioned to help you find the right policy for your needs and are committed to earning your business today and into the future. Give us a call today to schedule your no-obligation consultation with one of our friendly and knowledgeable insurance professionals.