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Small Business Insurance in Nebraska

Small businesses are the backbone of the American economy. In Nebraska, small businesses account for 97.6% of all businesses. While running a small company can be rewarding, owners must also be prepared to handle the risks that come with owning a business.

One of the most important steps a small business owner can take to protect their business is to get insurance. 

Why Do Small Businesses in Nebraska Need Insurance?

Nobody knows the future, and owning a business comes with a set of risks. These may include property damage, liability claims, and employee injuries. Without insurance, these risks can be extremely costly and even put a business out of operation. 

For example, if a customer slips and falls in a store, the business could be held liable for medical expenses and other damages. Without insurance, the business owner would have to pay these costs out of pocket, which could be financially devastating.

Another reason small businesses in Nebraska need insurance is that it can help attract and retain employees. Many employees consider health insurance and other benefits when choosing where to work. Offering insurance can help small businesses compete with larger corporations and attract top talent.

The Main Types of Small Business Insurance in Nebraska

There are several types of insurance available to small businesses in Nebraska. Here are the most common types:

General Liability Insurance

General liability insurance protects businesses from lawsuits and other claims related to property damage, bodily injury, and advertising injury. For example, if a customer is injured on the premises or suffers property damage due to the business’s actions, general liability insurance can help cover the costs of legal fees, medical expenses, and other damages.

Property Insurance

Property insurance protects businesses from damage or loss to physical property, such as buildings, equipment, and inventory. It can also cover losses due to theft, fire, and other covered events. Property insurance can be customized to fit the needs of each business, and it’s essential for businesses that rely on physical assets to operate.

Workers’ Compensation Insurance

Workers’ compensation insurance is required by law in Nebraska for businesses with employees. It provides benefits to employees who are injured or become ill on the job, including medical expenses, lost wages, and disability benefits. Workers’ compensation insurance can help protect businesses from costly lawsuits and ensure that employees are taken care of in case of an accident.

Commercial Auto Insurance

Commercial auto insurance covers vehicles used for business purposes, such as delivery trucks or company cars. It can provide coverage for physical damage, liability, and other types of losses. Commercial auto insurance is essential for businesses that rely on vehicles to operate.

How Much Does Small Business Insurance Cost in Nebraska?

The cost of small business insurance in Nebraska varies depending on factors such as the type of insurance, the size of the business, and the level of coverage. On average, small businesses in Nebraska can expect to pay between $400 and $2,000 per year for general liability insurance. Property insurance can cost anywhere from $500 to $3,000 per year, depending on the value of the property and the level of coverage.

Workers’ compensation insurance rates in Nebraska are based on the type of business and the number of employees. Rates can range from $0.14 to $6.80 per $100 of payroll, depending on the industry. Commercial auto insurance rates vary based on the number of vehicles, the type of vehicle, and the driving record of the business owner and employees.

Are Businesses Required to Have Insurance in Nebraska?

While Nebraska does not require businesses to have general liability or property insurance, businesses with employees are required to have workers’ compensation insurance. Failure to have workers’ compensation insurance can result in fines and legal penalties. Additionally, some industries may be required to have specific types of insurance, such as professional liability insurance for lawyers or medical malpractice insurance for healthcare providers.

Finding the Best Coverage For Your Business

When shopping for small business insurance in Nebraska, it’s essential to work with a reputable insurance agent who can help you find the coverage you need. The agent can assess your business’s risks and recommend the right policies to protect your business. It’s also a good idea to compare quotes from multiple insurers to ensure you’re getting the best deal.

Small business insurance is an essential investment for businesses in Nebraska. It can protect businesses from costly lawsuits, property damage, and other risks that can be financially devastating. 

By understanding the different types of insurance available and working with a reputable insurance agent, small business owners can find the coverage they need to protect their business and their employees.


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