Des Moines Business Liability Insurance

Des Moines business liability insurance can provide necessary protection for your small business. While insurance isn't necessarily a fun or glamorous purchase, it's absolutely necessary to have this coverage for your company. High legal fees and potential damages can easily put your Des Moines, IA company out of business.

Unfortunately, basic commercial Iowa business liability insurance may not provide sufficient protection for your Iowa company. Most likely, you will need other types of liability policies to protect you from cases regarding your employees, your products, and other potential concerns. Furthermore, you will need property insurance to protect your Des Moines, Iowa property and your assets.

Commercial Liability Insurance

Your Des Moines business liability insurance will protect you from third-party claims related to advertising injury, personal injury and property damage. In other words, if someone is injured on your property, you will be protected. Or, if someone accuses you of libel based on your company's advertising, you're covered. And, if someone claims that you damaged their property in some way, you will be protected.

Des Moines business liability insurance has the duty to defend and the duty to indemnify. In other words, your liability policy will pay all legal fees and a settlement or damages. As legal fees can be quite costly, this is a very important component of Des Moines business liability insurance.

Of course, it's important to understand here Des Moines business liability insurance doesn't cover all kinds of claims. For example, if your Iowa company is manufacturing or selling a product, you need an additional policy called product liability insurance. If someone makes a claim regarding your product, your basic commercial policy won't protect you.

Furthermore, if your Des Moines, IA business involves offering advice, you may need malpractice coverage. Your basic Des Moines business liability insurance won't cover you for claims related to professional negligence. Malpractice isn't just for attorneys and doctors; architects, technology specialists, and many other professionals the malpractice coverage.

Also, it's important that you understand that you realize that your Des Moines business liability insurance only protects you from third-party claims. Therefore, it doesn't protect you if an employee attempts to see you for wrongful termination or harassment. Employees aren't considered third-party, so you may need an additional policy, called Employment Practices Liability, if you have employees.

Property Insurance

Your Des Moines business general liability insurance will protect you from third-party claims related to property damage, but not from the damage itself. So, you need property coverage to protect your Des Moines, IA company. In the case of a fire, theft, or any type of natural disaster, it's absolutely essential that you have a policy to cover your property.

You may be able to get the business owner's policy which includes property coverage. A business owner's policy, or BOP, may be the most affordable way to cover all of your risks. In general, this kind of package deal will allow you to secure lower rates. In any case, it's certainly worth asking your agent if you're eligible.

Many small to medium sized Des Moines businesses are eligible for BOP's. However, if you're in the automobile industry, you may be out of luck. Gas stations, for example, aren't eligible. Or, if you're operating a relatively large Des Moines restaurant that serves a significant amount of alcohol, you may not be eligible. It really depends on your activity and your industry.

BOPs are not offered to large companies, as they're meant for businesses with low-risk. If you're operating a relatively low-risk company, you may want to look into special packages for small companies. Again, it's a great way to save money, and it can be an easy way to comprehensively cover your risks.

Also, with a BOP, you can often include add-ons, such as cars. If you or your employees will be driving for work related purposes, you may want to consider a commercial auto policy. Your personal car coverage won't be sufficient in most cases. In any case, you'll want to check and make sure, as an automobile accident can really harm your company if you're not careful.

Insuring Your Company

If you're ready to start looking at quotes and researching companies, you may want to contact an agent. An agent can help you assess your risks and find a good, reliable insurer to work with. Insuring a company is more difficult than insuring a car, or even a person, because every company has different needs.

A local Des Moines business liability insurance agent can help you protect your company. He or she will know about unusual risks to might want to consider, for example. While it's a good idea to do some of your own research about insurers, having a professional help you can make insuring your company much, much easier.

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