Kansas City Business Insurance

Kansas City Business Insurance Considered the “Heart of The Heartland,” Kansas City, Missouri is known for its central location within the U.S.1 Residents and travelers love it for many reasons, and one is how easy it is to move throughout the city. In fact, five of the seven major railroads converge in Kansas City.2 The city also touts a business-friendly climate where businesses have access to:3

  • Incubators.
  • Accelerators.
  • Educators.
  • Funders.
  • Mentors.
  • Networkers.
  • Kansas City is a place that fostered the growth and success of businesses from the startup phase to an IPO or sale.4.

    Whether you’re planning to protect your business in Kansas City or get insurance for your business in Missouri, our specialists have helped small businesses in Missouri get the protection they need. We can meet your company’s unique needs and get to work.

    What Types of Insurance Do Kansas City Businesses Need?

    Many businesses in Kansas City may require different types of insurance to protect their companies. A Policy Owner’s Business (BOP) combines three essential types of coverage, which is suitable for many start-up businesses.

    You should also contemplate these alternative forms of insurance for your business in Kansas City.

    General Liability Insurance

    General commercial insurance, also known as liability coverage, is a necessary form of protection that businesses in Kansas City face during their normal operations. It covers claims for damage to property or bodily injury caused by your business in Kansas City, as well as the liability that arises when others are affected.

    Workers’ Compensation Insurance

    If your business is located in Kansas City, Missouri, it is mandatory to provide workers’ compensation insurance coverage for at least five employees. This insurance helps your employees recover benefits if they suffer from a work-related illness or injury.

    Professional Liability Insurance

    Professional liability insurance covers claims in which you have made an error in the professional services provided. If you face a lawsuit, this specific type of liability coverage can assist in covering your court costs, settlements, judgments, and attorney fees. Your court costs, settlements, judgments, and attorney fees are potentially covered by this liability coverage if you are sued.

    Commercial Property Insurance

    Business property insurance assists in safeguarding the building, tools, machinery, and stock you utilize to conduct operations.

    Commercial Auto Insurance

    Commercial vehicle insurance assists in safeguarding you and your employee while driving a business-owned automobile for work purposes.

    Data Breach Insurance

    If your business in Kansas City collects and stores personally identifiable information, it is a good idea to consider getting data breach insurance coverage. This insurance can help cover the costs of notifying individuals impacted by a data breach, monitoring credit services, and providing assistance in case of data loss or a breach. Insurers offer cyber liability insurance specifically for these types of situations.

    Is Business Insurance Required in Kansas City, MO?

    If employees in Kansas City, Missouri have the five lowest insurance compensation for workers, businesses are required to have it. Additionally, businesses in the state are also required to have commercial auto insurance if they own used vehicles for work purposes.

    Even if it’s not required, insurance of any type is still a good idea to have for your small business in Kansas City. Your small business faces unique risks every day, some of which can be costly, and without insurance, you may have to pay for claims out of your own pocket.

    How Much Does Business Insurance Cost in Kansas City?

    Clients were charged $3,135 per annum for a BOP, which amounts to approximately $261 per month on average. In the case of a general liability policy, individuals typically paid an average of $1,057 per year, equivalent to around $88 per month. As for workers’ compensation clients, their average annual payment amounted to $840, or approximately $70 per month.

    Insurance companies use different factors when determining costs because Kansas businesses pay varying amounts for insurance. This can include: you’ll likely discover.

  • Business category.
  • Location.
  • Employee count.
  • Revenue.
  • Policy specifics, such as limits of coverage and deductibles.
  • The most effective way to determine the cost of business insurance for your business in Kansas City is to obtain a quote.

    Get a Quote for Business Insurance in Kansas City, MO

    We understand the unique risks that businesses in Kansas City face, and our specialists are here to help you with any questions you have about insurance for your business. Whether you need assistance in filing a claim or have inquiries about coverage, we have helped over 1 million small business owners get the insurance they need. Our insurance company is backed by over 200 years of experience.

    Obtain a quotation today and observe how we can assist in safeguarding your business in Kansas City.

    Latest Update: November 21, 2022.

    1,2 The Economic Development Corporation of Kansas City, “Why KCMO”.

    3,4 Kansas City Economic Development Corporation, “How We Can Assist: Entrepreneurship”.

    The premium paid by Hartford’s Small Business customers is derived from a number of specific factors and may vary. The premium amounts presented are based on monthly payments for policies between 12/31/21 and 1/1/21, for a 12-month period.