4 Kansas city general liability insurance

Introduction

The type of insurance in Kansas City you should have for your business depends on a variety of factors.

Some businesses require you to have certain types of insurance – such as workers’ compensation and commercial auto insurance.

Other policies, such as business owners policy (BOP) and general liability insurance, are optional.

You may also need specialty business insurance, depending on the nature of your company’s operations.

Professional liability is required by any business that provides professional services to clients in exchange for payment.

For example, lawyers, doctors and consultants must all carry this type of coverage to protect themselves from malpractice claims involving their work product or advice.

Property insurance is another key requirement in Kansas City if you own or lease a building where your business operates.

This policy covers physical assets that are damaged or destroyed by common disasters like fire, windstorms and theft.

You’ll be protected against loss of inventory and equipment so that your company can continue operating when disaster strikes.

Workers’ compensation insurance in Kansas City

If you have employees, you are required to carry workers’ compensation insurance.

Workers’ compensation insurance covers medical costs and/or lost wages to injured employees if they become disabled or unable to work as a result of workplace injuries or accidents.

In Missouri, employers are required to carry at least $100,000 in coverage per employee with a maximum cap of $300,000 per year.

The most common types of workers’ compensation insurance include:

General Liability Coverage

Commercial Auto Coverage (if you use cars for business purposes)

Employer’s Liability Insurance

Commercial auto insurance In Kansas City

If you own a business and have employees, it’s important to know about commercial auto insurance.

It provides protection against the costs of an accident that involves your business vehicle.

Once you’ve decided to purchase commercial auto insurance in Kansa City,  there are several things to keep in mind.

First, be sure that your coverage meets all state requirements for vehicle liability limits and other factors.

Second, if your policy will cover multiple vehicles (for example, if you own both a company car and one for personal use), review the different types of coverage available so that you can choose the best package for each situation.

Finally, make sure that all employees who drive company vehicles are covered under the same policy as well—this is especially true if they’re driving on behalf of the company while off-duty but still using their own personal car.

Business owners policy (BOP) insurance

A BOP is a package insurance policy that combines property and liability coverage.

In other words, it covers you in case of any damage to your business or its property (like equipment) as well as any legal expenses incurred if you are sued.

A standard BOP includes the following coverages:

Property damage

Business interruption

Personal injury (if an employee of yours is injured on the job)

Medical payments for all employees injured at work or off duty (this applies even if they don’t have medical insurance)

Additional living expenses if your home becomes uninhabitable due to a covered claim

Professional liability insurance

Professional liability insurance (also known as malpractice insurance) protects against claims of negligence, malpractice and fraud.

Claims may result from a breach of duty, contract or confidentiality.

In many cases, professional liability covers the same types of risk that general liability does—but with some additional considerations.

Your business’s specific industry may require specialized coverage for a variety of different scenarios:

Breach of contract: If a customer contracts you to perform work that turns out poorly or incompletely, they can sue for damages related to the failure to fulfill their end of the bargain (and if one party breaks their promise but neither party knows it until later, both parties could be held liable).

Breach of fiduciary duty: This is when a person or company has been hired by another party for some kind of strategic service on which he was expected to act in good faith but instead acted in bad faith.

In other words, if someone hires an accountant who then embezzles funds from them without telling them about it beforehand and without giving back what he stole after being caught—he would be guilty under this provision because he owed them honesty above all else while working with them as part of his job description.*

Commercial property insurance

Commercial property insurance protects your business against damage to your property.

It is often required by lenders to secure financing for the purchase or construction of commercial real estate.

Commercial property insurance provides protection against fire, theft, vandalism and other disasters that could damage buildings and personal property owned by you or others on your behalf.

This type of coverage is not to be confused with homeowners (also known as residential) insurance; commercial property policies have different limits than home insurance policies.

Commercial property policies are available in three main types: coverage for commercial real estate (land and buildings), coverage for personal property and business interruption coverage.

One of the primary ways to determine what type of business insurance you need is based on the industry in which you are operating.

One of the primary ways to determine what type of business insurance you need is based on the industry in which you are operating.

If you are in a high-risk industry, such as that of construction, manufacturing or auto repair, it is important to speak with your local chamber of commerce and find out if there are any local codes or regulations that may affect your business.

You should also consult with the Better Business Bureau (BBB) and check their website for any outstanding complaints against your company or competitors.

It’s also important to check with your state and local government agencies to see if they have any specific requirements for businesses within their jurisdiction.

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Be sure to talk with an insurance agent who specializes in commercial coverage before purchasing liability coverage; this will ensure that everything fits together properly and meets all applicable laws regarding coverage limits etcetera.”

Conclusion

Having the right insurance will help protect your business from unexpected financial losses.

If you need additional guidance on the types of insurance you may need, we can provide a free quote for your business or connect you with an experienced independent agent who can help you better understand your options.