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What type of insurance do you need?
Last year alone, insurance companies paid out more than $637 million in businesses insurance claims in the state of Idaho. Without commercial insurance, your business's revenues are at risk.
This type of insurance protects your company's bottom line by covering many of the hazards your business faces. These can include losses, damage and liability lawsuits. An independent insurance agent can help you determine which coverage options are right for your particular business.
40% of small businesses are likely to experience a property or general liability claim in the next 10 years. Here are some things these companies have been using their insurance on:
Idaho business insurance will pay for covered claims so your business doesn’t have to. It gives you peace of mind so you can focus on what matters: your business's bottom line.
Here’s what a standard business insurance policy should do:
Pay For Damage To Your Building
Pay For Damage To Your Business Property
Pay For Damage To Someone Else’s Property
Pay For Someone Else’s Medical Bills
Pay For Accidents in Company Vehicles
Pay For Employee Injuries & Compensation
While business insurance is not necessarily mandatory, certain aspects of it may be. For example, in the state of Idaho, nearly all employers are required to carry workers' compensation insurance — even if they employ only one part-time or seasonal worker.
Additionally, businesses with more than 50 full-time employees are required to provide them with health insurance coverage, and companies that own vehicles need to cover them with a commercial auto insurance policy. An independent agent can identify the mandatory and optional coverages available to you.
It primarily depends on how risky your business is. The riskier your business is, the higher your insurance will be. Here are two examples.
Business insurance rates are calculated using a number of factors such as the risks to your business property, your liability coverage needs and the amount and types of coverage you want. Policies can vary significantly by business industry, so it is best to talk with an experienced insurance agent when building a suitable and comprehensive policy for your business.
It’s usually wise to work with an independent agent in Idaho since they have access to obtaining quotes and coverage options from multiple insurance companies. Sometimes it’s difficult to find an insurance company who will offer the coverage your business needs.
Number of businesses in the US: 27,626,360
Burglary rate per 1,000 residents in the US: 3.76
Auto theft rate per 1,000 vehicles in the US: 2.29
|City||No. businesses||Burglaries / 1,000 people||Auto thefts / 1,000 cars|