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Insurance cover for small businesses in Iowa
Medical malpractice insurance is a type of professional liability insurance that protects healthcare professionals from claims of medical negligence or malpractice that results in injury or death. It covers your defense and any settlement costs.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Special Events Insurance covers your small business that organizes special events for clients. Insurance will cover you if a caterer or live performer cancels, if the venue turns out to be unsuitable or the equipment fails.
Frequently Asked Questions
How much liability insurance is required in Iowa?
Business liability insurance is always a wise purchase but isn't required by law in Iowa. If your business operates vehicles, the minimum Commercial auto liability coverage is $20,000 bodily injury per person, $40,000 bodily injury for all persons, and $15,000 for property damage liability.
What are the requirements to get an insurance quote in Iowa?
TTo insure your business in Iowa, insurers need documentation relevant to the type of insurance you are purchasing. Commercial auto insurance will require information on your vehicles. Workers' compensation coverage will require proof of sales revenue.
How much does a Business Insurance cost in Iowa?
The price of the insurance in Iowa depends on several criteria. Most insurance companies will review your experience, loss history, safety policy and financial capability before they can quote a price for your premiums.
Do I need Workers' Compensation coverage in Iowa?
The Workers' Compensation law in Iowa requires most employers to have this type of insurance coverage, although there are a few exceptions. Employers who violate Iowa's mandatory insurance law can face stiff penalties, placing their business at risk.
Guide to commercial insurance by state
Insurance laws and requirements may vary state by state. Click on your state to discover the insurance you will need for your small business: