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Nebraska Business Insurance

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Business insurance in Nebraska

Small business growth in Nebraska is outpacing the national rate, and these companies employ more than 412,000 of the state’s workers.1

Building a successful small business takes plenty of hard work and resourcefulness, and purchasing the right insurance plays a major role in keeping your company in good financial health. Business insurance in Nebraska helps pay for incidents such as:

  • Claims of injury or property damage
  • Accusations of professional negligence that cause financial damages
  • Employee injuries that happen at work
  • Damages from business-related automobile accidents

Next Insurance helps more than 1,000 types of small businesses and self-employed workers quickly get the coverage they need online at the best price. We specialize in small business insurance, so we can easily help you find a custom insurance package that is right for you.

Continue reading to find out about the most important types of business insurance in Nebraska or start a free instant quote to review options for your business.

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How Next can help you with business insurance in Nebraska

We offer a quick and simple way for you to get business insurance quotes online, purchase coverage and share your certificate of insurance. The entire process typically takes just a few minutes.

Our team of licensed, U.S.-based advisors can help you if you have any questions.

Start an instant quote today.

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Business insurance coverage and requirements in Nebraska

Small business owners in the Cornhusker State should consider carrying the following types of coverage:

 

General Liability insurance

Most business insurance bundles in Nebraska should include general liability insurance. If someone says that your company’s actions caused injury or property damage, general liability coverage helps pay for expenses.

In a worst-case scenario, claims of injury or property damage could lead to a lawsuit. General liability insurance protects your company by helping pay for attorney fees, court costs and any damages for which you are held responsible.

For example, a child requires emergency dental care after knocking out several teeth in an accident at an Omaha daycare center. The business owner’s general liability insurance helps cover medical bills and would pay for a portion of legal defense fees if the child’s parents decided to file a negligence lawsuit.

Tools and equipment insurance is a general liability add-on that protects construction and cleaning companies in Nebraska by helping to pay for repair and replacement costs if important business gear is damaged, lost or stolen.

A note on general liability insurance: Many commercial landlords will want to see proof of coverage before they’ll agree to lease you office space.

 

Professional Liability insurance

If someone accuses your business of delivering unacceptable work, missing a deadline or failing to complete a project, you could be held responsible for financial damages.

This is why many small businesses need professional liability coverage, which is also known as errors and omission (E&O) insurance. E&O coverage helps small companies pay for work-related mistakes, including settlements and potential lawsuit costs.

For instance, a client says that a Lincoln-based landscaping firm planted the wrong variety of shrubs at an office park and asks the company to replace them with the correct ones. E&O coverage helps the landscaping business owner pay to fix the mistake.

 

Workers’ Compensation insurance

In Nebraska, all businesses with employees must carry workers’ comp insurance, although the state allows for a few exemptions.2

If an employee suffers an on-the-job injury, workers’ compensation insurance helps pay for his or her medical expenses. Under most circumstances, Nebraska workers’ comp law allows an injured staff member to receive two-thirds of lost wages if the injury prevents them from working.3

Here’s an example of how workers’ compensation coverage might benefit a small business in Nebraska:

An employee of a construction firm in Grand Island slips and falls on icy steps during a job and requires an emergency room visit. The business’s workers’ comp insurance helps pay for medical expenses, as well as the majority of lost wages if the employee needs time to recover.

 

Commercial Auto insurance

Drivers in Nebraska must carry proof of auto insurance when on the road.4 Personal auto coverage typically doesn’t pay for damages from accidents in company-owned vehicles, which is why business insurance in Nebraska often includes commercial auto coverage.

Commercial auto insurance helps protect a small company in a situation like this:

Two employees of a carpentry shop in Nebraska City are driving to a job site in a business-owned van and have a minor accident that requires a tow truck and body-shop repairs. The company’s commercial auto coverage helps pay to repair the vehicle.

Hired and non-owned auto insurance is a commercial auto coverage add-on that helps cover damages if someone at your business has an accident in a vehicle not titled to the company. We strongly recommend this type of coverage for companies that sometimes request workers to drive their own automobiles for work or rent them.

 

How much does business insurance in Nebraska cost?

Business insurance in Nebraska costs Next customers a median of $45 every month.

Since no two small businesses are exactly alike, costs will differ based on factors like: 

Your industry’s regular risks. Companies with more exposure to risk should budget more for insurance. Construction firms pay a median of about $63 per month for small business insurance in Nebraska, while cleaning companies spend $40.

The amount of coverage you choose and policy limits. You’ll save money if you select the minimum required insurance types or policy limits. However if someone at your company has an accident or makes a work error, you might pay more out of pocket to resolve the problem.

How many employees you have on staff. Small businesses in Nebraska with 20 employees will pay more for workers’ comp insurance than those with two staff members. Providing an accurate employee count will help your company receive the best quote.

Start a quote with Next Insurance today to explore coverage options for your business in just a few minutes.

 

More resources for Nebraska small businesses and self-employed workers

Sources: 

  1. U.S. Small Business Administration 
  2. Nolo 
  3. Nebraska Legislature 
  4. Nebraska Department Of Motor Vehicles