Dubuque Business Insurance
And how you can get the right protection
Written by
Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.
Named after a French-Canadian fur trader, Dubuque, Iowa, is one of the Mississippi River's oldest settlements. With a population of 58,276 residents, this city is just the right size.
Known for educational services, healthcare, and hospitality, Dubuque is a diverse place to own a business. With an independent insurance agent, you can find the best rates in town.
How Employee Benefits Help You Retain Workers in Dubuque, IA
Over 77% of employers pay all or part of their employee's healthcare costs. To stay competitive when shopping for talent, your company will need to add value. Let's look at the numbers:
- Average annual health premiums for family employee coverage in 2019: $20,576
- Average annual health premiums for single employee coverage in 2019: $7,188
Every employer has its own budget and offerings for employee benefits coverage. Your package could include any or all of the following:
- Health insurance
- Disability insurance
- Life insurance
- Gym memberships
You and your independent agent can come up with creative employee benefits offerings for your staff. This will ensure you are set apart from other local companies and help you retain workers long term.
Why Your Dubuque, IA, Business Needs Workers' Compensation Insurance
In Dubuque, IA, you must carry workers' compensation insurance with one employee or more. Workers' compensation will cover medical expenses and lost wages when an employee gets injured or ill on the job.
Workers' compensation minimum policy limits:
- $100,000 per occurrence for bodily injury
- $100,000 per employee for bodily injury by disease
- $500,000 policy limit for bodily injury by disease
Often your business will need higher limits than the minimum state-mandated coverage. Discuss other policy options with your Dubuque independent agent to find the right insurance for your business.
Dubuque, IA, and Business Interruption Insurance
Your business could have to pause operations for a time due to a natural disaster, burglary, or fire. For this, you'll need business interruption insurance to pay for regular expenses such as:
- Mortgage or lease payments
- Employee payroll
- Utilities
- Vendor fees
In Dubuque, you have to worry about the following common natural disasters:
Business interruption coverage will pay expenses for a preset length of time, typically 12 to 24 months. Discuss business interruption insurance with your local agent to get proper protection.
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Cyber Liability Insurance for Your Dubuque, IA, Business
Your business may collect customer and employee sensitive information that can be stolen. Identity thieves will attack through something as simple as a false email link. When your business is a victim of a cyberattack, you're liable for the damage. Let's look at the numbers:
- Number of US data breaches in 2019: 1,473
- Identity theft reports in Iowa in 2019: 1,910
Your business may be ill-prepared for a cyber liability claim. To be proactive and prevent identity theft, look at these safety options:
- Hold regular cyber meetings with employees
- Send out practice phishing emails to help train staff on what to look for
- Protect your computers and servers with anti-virus software
- Consult with a cyber technician
Connect with your Dubuque independent agent on cyber liability coverages and how to protect your company.
Dubuque, IA, Commercial Property Insurance
If your business owns a commercial property or belongings like inventory, you'll need protection. Commercial property insurance will provide coverage for things like:
- The replacement cost of your building or belongings
Several catastrophes could damage your property. Weather-related claims are one of them. The most-reported property damage claims in Iowa are the following:
- Flooding and water damage
- Severe storms and lightning
- Tornadoes
- Severe ice storms and freezing
- Burglary and other property crimes
Most damage should be covered under your commercial property policy, excluding flood. Flood damage is on its own separate policy that can be quoted through your agent.
Flood insurance in Dubuque, IA:
An elevation certificate will determine what flood zone your commercial property is located. From there, your agent can run FEMA approved quotes and present you with the best option.
Liability Insurance and Your Dubuque, IA, Business
One of the most common claims your business will encounter is a liability loss. When this happens, general liability or GL will provide the coverage your company needs. The minimum limits of liability usually start at:
- $1,000,000 per occurrence
- $2,000,000 aggregate
General liability (GL) insurance policy:
A GL policy will protect your business from a lawsuit due to bodily injury, slander, property damage, or advertising injury.
Even if your company does not have a brick and mortar, GL insurance is still necessary. Speak with your agent on what GL can do for your business.
Connect with a Dubuque, IA, Independent Agent
Your business was hard work to build and should be adequately protected. When you get quotes from an independent insurance agent, you are getting the best rates and coverage on the market.
They work with dozens of carriers so you can have options on insurance. Connect with a local independent agent on TrustedChoice.com to get started.