Small Business Insurance Wisconsin

If someone claims that your company caused an injury or damaged their property, you could be faced with unexpected expenses.

General liability insurance, also known as business liability insurance or commercial general liability, can protect you by helping to pay for medical bills and the cost of replacing or repairing damaged property. This coverage can also assist with lawsuit costs, including attorney and court fees, and any damages for which you’re found responsible.

For example, a prospective homebuyer slips on a floor at a Milwaukee open house, requires a trip to the emergency room and later later claims that the real estate agent’s negligence was to blame for the accident. General liability insurance could help the real estate agent cover the prospective homebuyer’s medical bills and pay for legal representation if a lawsuit was filed.

Owners of construction and cleaning companies might want to add an optional general liability upgrade called tools and equipment insurance. This kind of coverage is designed to protect business gear that is stolen, lost or damaged outside of wear and tear.

Wisconsin requires most companies with employees to carry workers’ compensation insurance. This type of coverage can help pay for medical expenses and lost wages when employees are injured on the job.

Workers’ comp insurance would apply in a situation like this:

An employee of a Green Bay–based trucking firm seeks medical care after a concussion that happened on a job. Workers’ compensation coverage could help pay the employee’s medical expenses, including ambulance, hospital and doctor bills.

If the trucker’s injury causes missed time from work, workers’ compensation could also help pay for lost wages.

Companies that own vehicles or drive for business need to have commercial auto coverage in their Wisconsin insurance packages. That’s because personal auto insurance won’t cover accident damages that happen while driving for business purposes.

Here’s how commercial auto insurance can help small businesses by assisting with towing, collision damage and medical costs:

An employee of a Racine-based plumbing company wrecks on Interstate 94 during a snowstorm and severely damages a van. Commercial auto insurance could help pay to repair or replace the vehicle and for medical attention if the plumber is hurt.

Hired and non-owned auto insurance is a type of coverage that helps pay for accident damages in vehicles that are not titled to your business. Companies that ask employees to drive their own cars for business or rent vehicles will want this optional add-on to commercial auto coverage.

Wisconsin commercial property insurance, sometimes called business property insurance, can help pay for business property that’s damaged or destroyed after a covered event, such as water, fire or wind incidents.

For example, a kitchen fire at a Kenosha casual dining restaurant damages the cooking station. Commercial property coverage could help pay to repair the grill and replace cookware that was ruined.

It’s important to read your policy documents carefully to make sure there aren’t exclusions for your business. Some locations prone to flooding or hurricane damage might have limited coverage.

There’s insurance to protect you if someone claims that your professional negligence caused them financial losses. It’s called professional liability insurance and it’s a key part of business insurance packages in Wisconsin.

Also known as E&O or errors and omissions insurance, this type of coverage can help your company if someone says you performed subpar work, failed to meet deadlines or didn’t complete a job.

For instance, a commercial office building developer in Madison alleges that an architecture firm didn’t deliver a building plan on time, which caused several clients to pull out of the project. The developer sues the architect for damages.

Professional liability coverage could help the architect pay for legal costs and court fees and to help settle the case.