Find the Best Business Insurance Options in Wisconsin
Wisconsin is a great state to open a business in for many reasons. But regardless of your industry, you must protect your company with a business insurance policy. Without the right protection, your business is vulnerable to huge and potentially devastating financial losses caused by a number of threats ranging from theft to data breaches and beyond.
Wisconsin is home to nearly 452,600 small businesses, and its 1.3 million small business employees also need to be covered. Fortunately, an independent insurance agent in Wisconsin can help you find the right business insurance policy. But first, here's a deep dive into Wisconsin business insurance.
Best Business Insurance Companies in Wisconsin
Business insurance is sold by many different companies in Wisconsin. However, some carriers have better coverage and rates than others. So we built this list of only the best business insurance companies in Wisconsin for your convenience.
- Nationwide: Nationwide sells business insurance and many personal coverages. The carrier has outstanding ratings by both AM Best and the Better Business Bureau (BBB) and offers 24/7 claims reporting.
- pomi: pomi sells business insurance and personal insurance. The carrier has excellent ratings from AM Best and the BBB and offers online claims reporting.
- Liberty Mutual: Liberty Mutual sells a large catalog of business insurance and personal insurance. The carrier is also a Fortune 500 company with excellent ratings from AM Best and the BBB and offers 24/7 claims reporting.
- The Hanover: The Hanover offers a large catalog of business insurance and personal coverages. The insurance company has outstanding ratings from both AM Best and the BBB and offers 24/7 claims reporting.
A Wisconsin independent insurance agent can help you find the right business insurance policy from one of these outstanding carriers.
Wisconsin Business Insurance Requirements
Each business in Wisconsin that employs three or more employees at the same time or at least one employee that's paid more than $500 per quarter must carry workers' compensation. This is the only type of business insurance required by state law. However, your business insurance policy is likely not complete without other types of coverage, including commercial general liability coverage to reimburse for the cost of lawsuits. You may also need commercial auto insurance to protect any company vehicles. Further, you might consider adding business income coverage in case of temporary unexpected closures.
Wisconsin State Law Requires Businesses to Carry This Insurance:
Some Optional Forms of Business Insurance to Consider in Wisconsin:
- Business income insurance
- Commercial auto insurance
- Cyber liability insurance
- Professional liability insurance
- Commercial property insurance
- Commercial general liability insurance
A Wisconsin independent insurance agent can help your business get all the coverage it needs in every category.
What Business Insurance Covers in Wisconsin
Business insurance policies in Wisconsin can be customized to your business's needs. So what your policy covers depends on which coverages you select. You'll probably be advised by your independent insurance agent to add coverage for liability, company vehicles, business income, cyber liability, commercial property, and more.
Liability Coverage Options for Small Businesses in Wisconsin
Your small business in Wisconsin must have protection against the cost of lawsuits as well. You may need more than one type of liability coverage, depending on your business's operations. Consider the following popular types of liability insurance for your small business:
- Professional liability insurance: Covers lawsuits after your business gets sued by a third party for claims of performing services incorrectly or offering inaccurate advice or counseling.
- Commercial general liability insurance: Covers lawsuits after your business gets sued by a third party for claims of bodily injury or personal property damage.
- Cyber liability insurance: Covers lawsuits after a data breach or other incident exposes or sells private data or records, including credit card numbers.
Your Wisconsin independent insurance agent will help your business get all the liability protection it needs against multiple types of lawsuits.
Property Coverage Options for Small Businesses in Wisconsin
If your business has physical property like inventory or buildings, it needs a certain kind of protection. Incidents of fire damage, vandalism, etc., can cause costly repairs or rebuilding to be required. Having the following coverage can seriously help your business:
- Commercial property insurance: Covers repairs, rebuilding, or replacement of company property like inventory and structures after a listed peril like a fire.
Your Wisconsin independent insurance agent can help you get the right amount of commercial property coverage.
Other Insurance Options for Small Business Owners in Wisconsin
A couple more kinds of coverage may still be necessary to complete your business insurance policy. Depending on your business's operations, you may need several additional types of coverage. Look into these coverage options:
- Commercial auto insurance: Covers costs related to incidents involving company vehicles, such as accidents, theft, vandalism, lawsuits, etc.
- Business income insurance: Covers continued revenue and employee wages during temporary closures due to covered perils like fire damage.
A Wisconsin independent insurance agent can help you get set up with every type of coverage you need in a business insurance policy.
Average Cost of Business Insurance in Wisconsin
The cost of business insurance in Wisconsin isn't standard. The types and amounts of coverage you select to go into your business insurance policy will heavily influence its cost. Also, if your business is larger, has more employees, and is in a risky industry, it'll pay more for its coverage. Businesses in areas with a higher risk of crime or natural disasters can also expect to pay more for business insurance.
National Insurance Stats
Number of businesses in the US: 30,819,176
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
| City | No. of businesses | Burglaries / 1,000 people | Auto thefts / 1,000 cars |
| Appleton | 5,714 | 1.43 | 0.75 |
| Eau Claire | 5,241 | 3.64 | 0.94 |
| Fond du Lac | 3,238 | 1.37 | 0.96 |
| Green Bay | 7,022 | 2.33 | 1.18 |
| Janesville | 4,685 | 2.12 | 0.67 |
| Kenosha | 5,837 | 1.88 | 1.72 |
| La Crosse | 3,730 | 4.38 | 1.22 |
| Madison | 20,714 | 4.00 | 2.09 |
| Milwaukee | 38,017 | 6.08 | 5.84 |
| Oshkosh | 3,675 | 3.19 | 0.89 |
| Racine | 4,646 | 2.74 | 1.24 |
| Sheboygan | 2,689 | 1.83 | 0.39 |
| Waukesha | 4,938 | 1.06 | 0.52 |
| Wauwatosa | 4,667 | 1.81 | 1.34 |
How Does Your Wisconsin City Measure Up?
Commercial general liability coverage: Businesses in Green Bay need protection against costly lawsuits filed by customers or other third parties. Attorney, court, and settlement fees are covered by this insurance after a third-party claim of bodily injury or personal property damage is filed against your business.
Commercial auto coverage: Businesses in Green Bay that have company vehicles like mobile stations need protection against many different incidents like lawsuits after accidents, theft, vandalism, and more. This coverage can pay to repair or replace a company vehicle after a covered incident.
Commercial property coverage: Businesses in Green Bay with physical property like buildings and inventory need special protection in case of fire damage and other incidents. This coverage can pay to repair, rebuild, or replace company property after a covered incident.
Commercial general liability coverage: Businesses in Kenosha need protection against costly lawsuits filed by customers or other third parties. Attorney, court, and settlement fees are covered by this insurance after a third-party claim of bodily injury or personal property damage is filed against your business.
Commercial auto coverage: Businesses in Kenosha that have company vehicles like mobile stations need protection against many different incidents like lawsuits after accidents, theft, vandalism, and more. This coverage can pay to repair or replace a company vehicle after a covered incident.
Commercial property coverage: Businesses in Kenosha with physical property like buildings and inventory need special protection in case of fire damage and other incidents. This coverage can pay to repair, rebuild, or replace company property after a covered incident.
Commercial general liability coverage: Businesses in Madison need protection against costly lawsuits filed by customers or other third parties. Attorney, court, and settlement fees are covered by this insurance after a third-party claim of bodily injury or personal property damage is filed against your business.
Commercial auto coverage: Businesses in Madison that have company vehicles like mobile stations need protection against many different incidents like lawsuits after accidents, theft, vandalism, and more. This coverage can pay to repair or replace a company vehicle after a covered incident.
Commercial property coverage: Businesses in Madison with physical property like buildings and inventory need special protection in case of fire damage and other incidents. This coverage can pay to repair, rebuild, or replace company property after a covered incident.
Commercial general liability coverage: Businesses in Milwaukee need protection against costly lawsuits filed by customers or other third parties. Attorney, court, and settlement fees are covered by this insurance after a third-party claim of bodily injury or personal property damage is filed against your business.
Commercial auto coverage: Businesses in Milwaukee that have company vehicles like mobile stations need protection against many different incidents like lawsuits after accidents, theft, vandalism, and more. This coverage can pay to repair or replace a company vehicle after a covered incident.
Commercial property coverage: Businesses in Milwaukee with physical property like buildings and inventory need special protection in case of fire damage and other incidents. This coverage can pay to repair, rebuild, or replace company property after a covered incident.
Commercial general liability coverage: Businesses in Racine need protection against costly lawsuits filed by customers or other third parties. Attorney, court, and settlement fees are covered by this insurance after a third-party claim of bodily injury or personal property damage is filed against your business.
Commercial auto coverage: Businesses in Racine that have company vehicles like mobile stations need protection against many different incidents like lawsuits after accidents, theft, vandalism, and more. This coverage can pay to repair or replace a company vehicle after a covered incident.
Commercial property coverage: Businesses in Racine with physical property like buildings and inventory need special protection in case of fire damage and other incidents. This coverage can pay to repair, rebuild, or replace company property after a covered incident.
Wisconsin Business Insurance FAQ
The cost of business insurance in Wisconsin depends on a ton of different factors. These can include your business's coverage needs, history, exact location, size, number of employees, and more.
All businesses with one or more employees paid more than $500 within a calendar quarter must have workers' compensation by Wisconsin state law.
What business insurance in Wisconsin covers depends on what you select to go into your policy. You may choose to build a business insurance policy with workers' comp, business income coverage, commercial auto coverage, and commercial general liability coverage.
Business general liability or commercial general liability insurance in Wisconsin covers the costs of lawsuits filed against your business for claims of bodily injury or personal property damage.
Yes, small business health insurance plans are available in Wisconsin. You can expect to pay about $193 per employee per year for this coverage. If your business has 25 or fewer employees, you may also qualify for a tax credit on coverage.
Our research found that Nationwide, pomi, Liberty Mutual, and The Hanover are the best business insurance companies in Wisconsin this year. We selected these top-rated carriers based on coverage options and pricing, discounts available, customer service reviews, and more.
An independent insurance agent in Wisconsin can help you get the coverage you need, fast. These agents shop and compare policies from multiple different business insurance companies in Wisconsin for you. They'll present you with the results that offer only the best blend of coverage and cost.
Do You Know What Your Business Insurance Covers in Wisconsin?
https://www.ehealthinsurance.com/wisconsin-health-insurance/health-plans/group-medical
https://dwd.wisconsin.gov/dwd/publications/wc/wkc-13328-p.htm