How commercial insurance can save your small business

Small businesses make up a considerable proportion of all businesses. The number is 99.9 percent. There are more than 30 million small businesses in the United States. This leaves a lot of businesses at risk for all the things that could go wrong. We are independent agents at NCIB Group Inc. in Chicago, IL, offering our customers more choices and personalized service. 

Property coverage

Bad things happen even to good businesses, and the property coverage that commercial insurance provides can help your business recover from the results of a covered hazard. Even if you are a renter, it is beneficial. It helps to replace the things that you use to do business. This includes office equipment, tools, machinery, inventory, raw materials, display units, etc. 

Liability coverage

One of the biggest dangers that any business faces is being sued. If you don’t have commercial liability insurance and get sued, the legal fees alone can kill your business. The chances that your business will be sued at some point are very high, and being prepared for a judgment against you is imperative. This is a case of an ounce of prevention is worth a pound of cure. 

Workers Compensation

In Illinois, if you have even one employee, they need to be covered by workers’ compensation insurance. They do not have to be full-time; one part-time employee is enough. 

Commercial auto insurance

If your business owns or uses even one vehicle, it should be covered by commercial auto insurance. If you are using your personal vehicle to do business, you run the risk of having any problems not being covered. 

Contact our team at NCIB Group Inc. in Chicago, IL, when you are ready to discuss the types of commercial coverage that can save your small business. 

Chicago’s Commercial Coverage: What Business Owners Need to Know

Anything can happen to your business in Chicago, IL. It’s critical that you have the commercial coverage you need to take care of the unexpected. By working with experienced agents at NCIB Group Inc., you can have a policy that covers every aspect of your business.

Every Industry is Unique

Every industry has unique commercial insurance needs. Even individual businesses require different levels of coverage. You’ll want to consider how your commercial property is used, the level of foot traffic you get, the value of the items you may sell within your location, and more.

An insurance agent will guide you through the various questions to determine enough coverage.

You’ll also want to look at the different types of coverage:

  • Business property coverage
  • General liability
  • Bodily injury

You need to be prepared for every possible scenario, whether a break-in, an employee gets injured, or a customer sues you.

A good insurance policy is tailored specifically to your business. There’s no need to build this independently – that’s how an insurance agent can help you.

Protect Your Business Against Financial Loss

All it takes is one accident or lawsuit for your business in Chicago, IL to lose everything. Some accidents can be extremely costly because of the amount of medical care – and lawsuits can easily clean out your bank account if you’re not careful.

By working with us at the NCIB Group Inc., you can get the commercial coverage that will truly offer the level of protection you need. We’ll take the time to look at what makes your business unique and work to provide coverage against any possible scenario that could plague your property and your operations.

Contact us today to get a no-obligation quote.

How workers compensation insurance can protect your employees and your business

Workers’ compensation insurance from NCIB Group Inc. is an important safety net for employees and businesses in Chicago, IL. It helps ensure that employees are compensated for any injuries sustained on the job and helps employers avoid costly lawsuits. 

Workers’ compensation insurance provides financial protection for employees if they are injured or become ill while working. In most cases, this coverage pays for medical bills, lost wages from missed work, and disability benefits if an injury leaves them unable to continue in their current role. It also ensures injured workers maintain their rights to receive compensation without going through a lengthy legal process or worrying about going up against a major company in court. 

For employers, workers’ comp insurance can protect their business from expensive legal fees in case of a workplace injury lawsuit. The coverage also helps guarantee that employees who are hurt on the job will have access to necessary medical care and treatment immediately instead of waiting until after a lengthy court case. And since most states require employers to carry workers’ compensation insurance, having it in place can help prevent hefty fines or penalties in the event of non-compliance with state law. 

All in all, workers’ comp insurance is a beneficial form of protection for both employers and employees. It ensures that employees are taken care of in the event of an injury while safeguarding businesses from unnecessary legal costs.

For more information, give us at NCIB Group Inc. a call today. We proudly serve the Chicago, IL area and would happily help you find a policy that suits your needs and budget. 

What commercial insurance covers

Commercial insurance is vital for any business to protect its assets, employees, and customers. It is designed to cover various scenarios that can arise during normal business operations, such as property damage, theft, liability, and other financial losses. At NCIB Group Inc., we are experts in the area.

Commercial insurance in the Chicago, IL area includes various types of policies tailored to an individual business’s specific needs. The most common types include general liability insurance, property insurance, workers’ compensation, and product liability. General liability protects you if someone is injured or sustains property damage on your premises or due to your products or services. Property insurance covers buildings and equipment the business owns if damaged or stolen. Workers’ compensation covers medical bills, lost wages, and other damages related to employee illness or injury while on the job. Product liability protects against injuries caused by defective products you sell or manufacture.

Aside from traditional commercial insurance coverage, businesses may also consider specialized coverage for specific risks associated with their industry or sector. For instance, a restaurant owner may require additional protection for food contamination; a construction firm may need more expansive coverage for workplace accidents; and a retail store may purchase coverage for customer slips and falls on the premises. Even "boilerplate" packages are available, covering all significant areas of risk concern in one policy.

Businesses must evaluate their commercial insurance needs carefully to ensure they are adequately protected from potential losses due to unforeseen circumstances outside their control. For more information, call us at NCIB Group Inc. today! We proudly serve the Chicago, IL area.


Four Add-ons to Consider for Your Commercial Insurance Policy

Your commercial insurance is a lifesaver, but it isn’t perfect. Luckily, you can add special coverage to boost your commercial insurance. Endorsements or add-ons are special policies you buy to fill gaps in your underlying policy.

If you are unsure about add-ons you should buy for your commercial insurance, NCIB Group Inc. in Chicago, IL is here to guide you.

Flood Insurance

Like home insurance, your standard commercial insurance doesn’t cover flood damage. The good news is that you can purchase flood insurance to protect your business premises and the contents inside against flood damage. Flood damage compensates you for losing your building and assets up to your coverage limit.

Earthquake insurance

While earth movements are common, the sad bit is that your standard commercial insurance doesn’t cover damage from mudslides, landslides, and other earth movements. Luckily, if your business is in an earthquake-prone area, you can purchase earthquake insurance to protect your business.

General liability insurance

Although general liability insurance isn’t mandatory in Illinois, all businesses should invest in this coverage. General liability insurance covers your business when it sustains bodily injury or property damage to others. Additionally, general liability insurance covers your business against lawsuits. Legal fees can be costly, especially when the case isn’t ruled in your favor. Thankfully, you don’t have to worry about liability claims if you have the relevant coverage.

Cyber liability coverage

While digitalization eases the operations of businesses, it’s also an opportunity for hackers to terrorize businesses. When cybercriminals are successful, your business can incur significant losses. However, investing in cyber liability insurance can lessen your financial burden.

Would you like to invest in commercial insurance? Are you a resident of Chicago, IL, or the surrounding area? Please contact NCIB Group Inc. for all your business insurance solutions.

The Different Types of Commercial Insurance Coverage Explained

Every business is different, meaning there is no one-size-fits-all commercial insurance policy. To get the coverage you need, it’s important to understand the types of commercial insurance available. This blog post will explain the different coverage options and help you decide which ones are right for your business.

1. Property Insurance

Property insurance protects your business against physical damage to your property, including buildings, equipment, and inventory. If your property is damaged or destroyed by a covered event (such as a fire or storm), property insurance can help you cover the cost of repairs or replacement.

2. Workers’ Compensation Insurance

Workers’ compensation insurance protects your business if an employee is injured on the job. If an employee is unable to work due to a work-related injury, workers’ compensation can help cover their medical expenses and lost wages.

3. Liability Insurance

Liability insurance protects your business against third-party claims of bodily injury, property damage, and personal injury (such as libel or slander). If you are sued and found liable for damages, liability insurance can help you cover the cost of a settlement or judgment.

4. Business Interruption Insurance

As a business owner, you need to be prepared for the unexpected. Business interruption insurance can help you cover the cost of lost income and expenses if your business is forced to close due to a covered event (such as a fire or natural disaster). This type of coverage can help you keep your business afloat until it can reopen.

5. Vehicle Insurance

If your business uses vehicles, you need to have vehicle insurance. This type of coverage protects your business from the cost of damage or theft of company-owned vehicles. It can also help you cover the cost of liability if one of your employees causes an accident while driving a company-owned vehicle.

Get Commercial Insurance In Chicago, IL

Now that you know the different types of commercial insurance, you can start shopping for the right policy for your business. NCIB Group Inc. can help you find the coverage you need at a price that fits your budget. Give us a call today to get a quote.

Commercial Insurance in Illinois: What You Need to Know

Chicago, IL is a highly sought-after location for owning a business. The city life, the exciting residents, and all the sights and sounds make for a wonderful place to grow a long-term company. NCIB Group Inc. is here to help serve business owners in the Windy City as you scale up and make big plans for the future. 

Many business owners select a standard insurance policy rather than doing extensive research on what kind of coverage they really need. Because insurance can be complicated and overwhelming, many people invest in a basic package and move on with their lives, thinking it will provide the protection they need in the event that they need it for any reason. 

While this might be true, this is the business we’re talking about! Your blood, sweat, and tears went into this company. It deserves more than cookie-cutter protection. Working with an agent who takes the time to get to know your business model, whether you have employees, inventory, a fleet of vehicles, or buildings, is just as important. 

Your insurance policy can vary depending on what your assets look like. Many agents won’t go into these details because they’d rather just sell you a policy and move on. The team at NCIB Group Inc. takes it a few steps further. 

We are happy to help any business owner in the Chicago, IL area with their insurance needs.  Whether you’re just starting out or you’ve been in business for years, we’ve got something that will suit your needs and help you get back to what you’re good at – growing your company. 

Contact our team today and we’ll get started! 

Commercial Insurance Ins and Outs

If you own a business, you will definitely be familiar with commercial insurance. Commercial insurance is of the utmost importance when owning a business, and can be useful for different things. We have listed some ins and outs of this type of insurance below for you. 

NCIB Group Inc. in Chicago, IL proudly provides commercial insurance to business owners. We can give you quotes from our providers and walk you through them, ensuring you make the right choice for your business.

The types of insurance

There are many different types of business insurance but we cover some below: 


Especially if you own a factory, you will need to be sure to be covered against your employees hurting themselves on machinery or even if they slip and fall. The latter is also applicable to office workers. At the same time, look into liability coverage in case visitors or customers of your business are accidentally harmed. 


Whether you own a shop or you run a busy call center in an office space, your business property should be insured. This can cover anything that causes damage to your property, from a flood to a fire. 


Whatever business your company might operate in, there is always a chance that a member of the public or another business sees it fit to sue you or your business. Ensuring coverage for this can really help with the cost of this. 

Commercial insurance can seem like a minefield, but we are here to take the stress out of it for you. Call NCIB Group Inc. in Chicago, IL on and one of our advisors will help you every step of the way.   

4 Things You Need To Know About Commercial Insurance

In a perfect world, businesses wouldn’t need insurance. Why? Because they would operate in an environment without risks like theft, fire, vandalism, floods, and so forth. Unfortunately, a utopian business environment doesn’t exist. If you are a business owner in Chicago, IL, you have to contend with numerous perils lurking in your business. And your best line of defense in shielding your business against risks is procuring a well-rounded business insurance plan from NCIB Group Inc.

Unfortunately, shopping for business insurance can be a challenging exercise, especially for startups. Thankfully, here is a guide of what you need to know when shopping for Illinois commercial insurance. 

Certain commercial insurance coverages are required

If you have more than one employee in Illinois, you are required to purchase workers’ comp insurance. This coverage covers your employees’ medical expenses for illnesses and injuries sustained in the workplace.

Additionally, if you have business cars, you need commercial auto insurance. This coverage protects your business against liabilities. Besides, it covers both your driver and vehicle when accidents occur.

Update your policy regularly

If you want to get the most out of your commercial insurance plan, review it at least once every year. This way, your business won’t be overinsured or underinsured. Additionally, your current business needs will be taken care of, minimizing your exposure. 

Understand your policy well

If you want to understand the ins and outs of your commercial insurance plan, you need to read your policy document carefully. Here, you will get to know what’s covered and what’s not. Then, instead of rushing to sign the dotted line in your policy document, read the contents keenly and consult with your insurance agent for clauses that you don’t understand.

Your insurance agent matters

Partnering with a reliable and trustworthy insurance agent is akin to getting a life partner for your business. Your insurance agent acts as your financial advisor and answers all your insurance needs. Simply put, your insurance agent can be the difference between success and failure for your business.

Are you looking to partner with a trusted insurance agent in Chicago, IL? Look no further than NCIB Group Inc. for all your commercial insurance needs. 

Why does a business in Chicago need commercial insurance?

If you are in the Chicago, IL area and want to start a business, you will find many opportunities. For those that are going to start a company here, getting the right insurance is crucial. There are a few reasons why a typical business here will need to get a commercial insurance plan. 

Protects Viability of Business

The main reason you will want to have commercial insurance for your Chicago business is that it can protect your company’s viability. A lot of work and investment goes into building a company, and you will want to know that this is always protected. When you get a commercial insurance plan for your company, it will include components that can protect your business assets and offset liability risk. 

Stakeholders require insurance

You will also need to have commercial insurance for your company because stakeholders could require it. To grow a company, many businesses will need to take out loans, raise outside equity and even rent a business place. In any of these scenarios, the stakeholder will want to know that your business remains viable. They will likely require that you maintain a full commercial insurance policy at all times.

Any business owner in the Chicago, IL area needs to make sure that they get a proper commercial insurance plan. When you are looking to get insurance here, it would be a good idea for you to call NCIB Group Inc. the team with NCIB Group Inc. understands the importance of this insurance, and they can help you evaluate your needs and options. This will help ensure that you pick an ideal commercial insurance policy that meets your needs.