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Choose The Hartford for All Your Iowa Business Insurance Needs
The Hawkeye State is home to 272,000 small businesses, making up 99% of companies in Iowa.1 Those small businesses employ more than 638,000 employees.
The Hartford can help protect businesses in Des Moines, Iowa City, Cedar Rapids and more. Whether you’re just starting out, growing or trying to expand, we can work with you to help you get the right seguro de negocio cobertura.
How Much Is Business Insurance in Iowa?
Our small business customers in Iowa pay an average of $722 a year, or about $60 a month, for a Business Owner's Policy (BOP). For workers' compensation insurance, Iowa business owners pay an average of $505 a year, or about $42 a month, with The Hartford.
Insurance costs differ as each business encounters distinct risks, meaning the amount you pay may differ than the average. The best way to find out your specific cost is to obtener una cotización.
Types of Iowa Business Insurance Offered
Iowa Business Owner’s Policy Insurance (BOP)
An Iowa BOP combines three essential types of coverage into one convenient policy to help protect against risks that come up during normal operations:
- General liability insurance
- Commercial property insurance
- Business income insurance
A BOP can help protect your business from the costs of damages from things like theft, fire or another covered disaster. It can also help cover the costs related to claims that your business caused property damage and bodily injury to someone else.
We make it easy to get a BOP and to customize it to meet your business' unique needs. So, you can add other types of coverage to give your business even more protection.
Consider a BOP if your Iowa business has:
- A physical location, which can include your home office, a rented or owned office or another place where you do business.
- Digital and physical property that can be damaged or stolen. These include digital hardware and software, tools, inventory, furniture, equipment, customer information and other data.
- The potential to be sued. For example, a customer gets hurt in your store or office and sues you for the costs.
General Liability Insurance in Iowa
General liability insurance helps protect your business from claims that it caused bodily injury or property damage to others. It can help protect your business from everyday risks that can come up during normal operations. Another name for this insurance is commercial general liability insurance.
Iowa Commercial Property Insurance
Seguro de propiedades comerciales in Iowa can help protect the building your business owns or leases, as well as your business’ personal property. This includes inventory, furniture, tools and equipment. A commercial property insurance policy from The Hartford can help your business replace lost income if it can't operate due to a covered loss.
Iowa Workers’ Compensation Insurance
Iowa workers’ compensation insurance, or workman's compensation insurance, gives your employees benefits if they have a work-related injury or illness.
This coverage can help pay for an employee's medical bills, help replace lost wages if they're unable to work and more. If a family member of an employee decides to sue your business, workers' comp can help pay your legal costs.
Some examples how workers' compensation insurance can help your Iowa business and employees include:
- A mover injuring his knee while placing furniture around the office, requiring a doctor’s visit that results in medication and time off to fully recover.
- An employee driving to the office after meeting with a client and getting into an accident, requiring an ambulance ride to the hospital and medical attention for severe injuries.
- An employee slipping and falling on the floor in the breakroom, injuring her neck and needing to see a specialist who prescribes weeks of recovery time.
Iowa Business Income Insurance
Iowa Seguro para ingresos comerciales can help replace income lost when a business can't operate due to a covered property loss, such as damage from theft, fire or wind. With this coverage, you can continue to pay for operating expenses, like monthly bills and payroll, while your business property is getting repaired or replaced.
Companies that may benefit from this coverage include:
- Service businesses, like hair salons y car repair shops, that rely on a physical location to operate in order to serve customers.
- Retail stores and businesses that require a physical storefront and/or an online presence for customers to come to and make purchases.
- Software companies that rely on physical and digital property including computers, servers and cloud storage to do business.
Iowa Commercial Auto Insurance
If your Iowa business owns vehicles that you or your employees drive for business, el seguro comercial para automóviles is important to have. It can help protect your business on the road and cover claims of bodily injury or property damage due to an accident.
Hired and Non-Owned Auto Insurance in Iowa
If your business rents vehicles or you and your employees drive personal cars for work, consider getting hired and non-owned auto insurance. It's similar to commercial auto insurance and helps protect your business out on the road. Remember, a personal car insurance policy won't cover claims from an accident if the person was driving a vehicle for business.
Iowa Minimum Business Insurance Requirements
Iowa law requires most employers with at least one employee to have workers' compensation insurance. An employer can get a workers’ compensation policy through a private insurance company or become self-insured by meeting specific requirements of the Iowa Insurance Commissioner.
If you have commercial auto insurance or hired and non-owned auto coverage, your policy should meet Iowa’s minimum liability coverage requirements:4
- Bodily injury liability: $20,000/$40,000
- Property damage liability: $15,000
Get a Quote for Iowa Business Insurance
We're an insurance company with more than 200 years of experience. We understand the unique risks businesses of all kinds face. We've also helped over 1 million small business owners get the business insurance protection they need. Reciba una cotización today and see how The Hartford can help protect you.
Additional Iowa Business Insurance Links
- Seguro comercial para automóviles
- Seguro comercial contra inundaciones
- Seguro comercial suplementario
- Seguro para la pérdida de datos
- Seguro general contra terceros
- Management & Professional Liability
- Surety Bonds
- Seguro para empresa con base en su hogar
- Responsabilidad por prácticas de empleo
- Ingeniería de riesgo
- Soluciones sensibles a las pérdidas (deducibles)
Última actualización: 9 de julio de 2024
1 U.S. Small Business Administration, "2023 Small Business Profile: Iowa."
2,3 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
4 Iowa Insurance Division, "Auto Insurance."
Divulgaciones adicionales a continuación.