Iowa Business Insurance

Customized protection for your Iowa business

Iowa small business owners should consider protecting their livelihoods with a business insurance policy, as it can help shoulder the financial stress of an accident or mishap at work.

According to the U.S. Small Business Administration, Iowa’s over 272,000 small businesses employ 45% of the state’s workforce. These businesses are required to protect their employees with workers’ compensation insurance.

Finding business insurance that fits your needs is simple with the Progressive Advantage^® Business Program. Our insurance experts can help you customize a policy if you need general liability, a BOP, workers’ compensation or a combination of coverages.

Types of IA business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Iowa should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Businesses in Iowa are required to have workers’ comp insurance if they have one or more employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Iowa businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Iowa?

The cost of business insurance in Iowa is dependent on many factors, including a business’s size, location and experience. For example, a business with ten employees in Ames can expect a different premium than one with four employees in Des Moines.

The most important cost factor, however, is the type of work your business does. This is because some professions are exposed to more risk than others. For example, a window washer that scales the outside of tall buildings is exposed to more risk than a house cleaner that only works from the interior of buildings. In this situation, the window washer can expect to pay a higher rate.

Learn more about the factors that influence your business insurance rate.