Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Illinois Public Administration Insurance
Illinois Public Administration Insurance. Being involved in the public administration industry means you are engaged in the overseeing and management of different public programs within the various governmental agencies. These government agencies exist on the federal, state and local levels. Governmental groups involved in the organization and funding of public goods and services are also included in this sector. These businesses also manage different organizations that have legislative, judicial or executive power of the different institutions in their jurisdiction.
Most of these are government agencies but still need to be protected from the risks they face. To be protected they need to have insurance. In this post, we'll talk about the different Illinois public administration insurance policies needed to protect these different agencies.
Illinois public administration insurance protects your agency and programs from lawsuits with rates as low as $67/mo. Get a fast quote and your certificate of insurance now.
Types Of Businesses In The Public Administration Industry
Here are some of the different companies that are a part of the IL public administration industry:
- Executive Offices
- Legislative Bodies
- Public Finance Activities
- Police Protection
- Legal Counsel and Prosecution
- Correctional Institutions
- Fire Protection
Also included are the administration of IL human resources programs. Some of these programs include:
- Administration of Public Health Programs
- Administration of Education Programs
- Administration of Human Resources Programs
These are just some of the different businesses included in the public administration industry that must have Illinois public administration insurance to protect them from different risks.
Type Of Insurance Options For The Public Administration Industry
In public administration, there are many requirements for Illinois public administration insurance coverage. To be comprehensively protected the policies you get have to include many coverage options. Here are some of the different insurance policies you can get for your business:
General Liability Insurance - If a third party is injured or suffers property damage while visiting your offices, then this is the insurance you should get. A common claim is "slip and fall". General liability insurance helps to protect you when things go wrong. Legal defense fees and other court costs are covered once you have this Illinois public administration insurance.
Cyber Liability and Data Breach Insurance - Public admin. means you'll storing and using confidential information. As a result, you must ensure you have protection if a hacker or cyber criminal ever leaks this sensitive information. Getting top quality security is the best thing you can do, but even then there is still a chance the information you store can be hacked. If the information is hacked, then it is critical to have cyber liability and data breach insurance coverage. This Illinois public administration insuranc helps to protect you if the information you store ever gets into the wrong hands.
Commercial Property Insurance - Having business property insurance protects the IL property used for the operation of public administration offices. This Illinois public administration insurance protects the office furnishings and computer systems used in the different buildings. If the property for your business is damaged or lost due to an event covered by the insurance, then this coverage helps with recovery of losses without suffering too much of financial loss.
Workers' Compensation - Workers comp in required by law in mpst states for any non owner employees. With IL workers compensation, an employee will get financial assistance if they are injured while working. When an employee gets injured on the job and has to be taken to the hospital this insurance assists with the paying of any medical expenses that result because of the injury. If an employee dies because of the injuries they got on the job, then this insurance pays benefits to the surviving family.
IL Commercial Auto Insurance - Any vehicles used by the different public administration offices must be protected by commercial insurance while they are on the road. It's impossible to predict an accident which is why you need IL business auto insurance to protect the different vehicles used by the various offices. When a vehicle used by your office gets into an accident or causes damage to a third party or their property you are protected when you have this insurance for your business.
IL Public Administration Insurance
Protection in the public administration just like any other business is important. The last thing you want happening is a lawsuit after someone gets injured while being on the property of a public administration office. Also, the vehicles used and employees in the different parts of this sector must have separate insurance policies to protect them.
Finding the best Illinois public administration insurance for a public administration office is about speaking with an experienced insurance agent.
Illinois Economic Data & Business Insurance Requirements
For moguls who are thinking about conducting business-related affairs in Illinois, it's important to have an understanding of the state's economic outlook. It's also a wise idea to familiarize yourself with the regulations regarding IL commercial insurance.
Here we provide some insight regarding the data that pertains to economy of Illinois. We also provide a brief overview about the types of commercial insurance coverage business owners are required to invest in, or should invest in, even if it isn't mandatory.
Business Economic Trends In The State Of Illinois
According to several reports that compile the economic data for each of the 50 states and compare that information to the national average, Illinois isn't in the best position. While there has been some improvement, the gains have only been slight. Income and employment rates have risen, and the housing market has increases; however, the gains in these areas have been minimal, especially when compared to the gains that other states have experienced.
While the unemployment rate has improved, falling to 4.8 percent in 2017 after it was stuck at a rate of almost 6 percent in 2016 and 2015, it appears that in reality, the IL labor force and employment gains are contradicting. In 2019, tens of thousands of people fell out of the state's labor force.
Looking to the future, it is predicted that while the employment rate in Illinois will grow, the rate at which it will grow will be much lower than the national average. Currently the projected annual job growth of the state is .5 percent. Following are some of the largest industries in IL.
- Service Industries
Illinois Commercial Insurance Regulations
The Illinois Department of Insurance regulates insurance in IL. Businesses are required to carry workers compensation insurance. Workers comp is mandatory for any business that employs either an hourly or a salaried workforce, even if that workforce is just one person. Organizations are also required to carry IL commercial auto insurance if they use vehicles for any business-related reasons, such as deliveries, transport, or client visits.
General liability insurance is not required, nor is commercial property insurance; however, it is a wise idea for companies to invest in this type of coverage, as it will safeguard from lawsuits or losses that their properties could sustain.
Additional Resources For Non-Profit Insurance
Find useful articles on business insurance for non-profit 501(c)(3) organizations, charities and associations.
- Fraternal Organization
- Labor Union
- Parent Teacher Organization
- Public Administration
- Social Work Services
For 501(c) Non-Profits - Directors And Officers Liability Insurance has become an increasingly important policy to have. D&O coverage protects insured directors or officers against claims involving allegations of wrongful acts occurring while performing their duties as such. The insurance is divided into two separate coverages:
Side A coverage reimburses the individual directors and officers for payments made for loss each has incurred because of wrongful acts.
Side B coverage reimburses the corporation for the payments it has made on behalf of the directors or officers themselves.
General Liability is a foundational policy for almost any business. Most companies do not have any control over the final cost of injuries to a person injured because of their operations, products, or services. The person injured may be a young child, a blue-collar worker, a surgeon, or a homeless person.
The cost of the injuries may be comparatively minor or run into the millions of dollars, depending on the person and the extent of his or her injuries. Do you have sufficient assets to pay such a loss?
Commercial general liability insurance is designed to help you protect your assets with three main coverages:
- Coverage A: Bodily Injury and Property Damage Liability
- Coverage B: Personal and Advertising Injury Liability
- Coverage C: Medical Payments
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.