INFORMATION ABOUT IDAHO COMMERCIAL INSURANCE
An Idaho business of any size requires commercial insurance to operate securely. The business’s property, employees, product liability and many other factors need to be considered when obtaining commercial insurance coverage. This site can provide information about types of available coverage and can provide competitive quotes. Choosing an insurer and coverage is of utmost importance. A more informed decision can be made with multiple proposals from a variety of carriers.
Commercial business insurance can deliver multiple kinds of business protection under a single policy. A list of business coverage includes – Commercial Auto, Business Interruption, Commercial Property, Contractor’s Liability, Directors and Officers Liability, Employment Practices Liability, General Liability, Professional Liability, Restaurant, Special Event, Technology Insurance and Worker’s Compensation.
Forms of Insurance that May Be Required
Workers Compensation Insurance: Nearly all businesses having employees are required by law to have Worker’s Compensation Insurance. It’s administered by the Idaho Industrial Commission. Worker’s compensation insurance covers lost income for workers suffering from on the job injuries. It also provides medical benefits for workers. When applicable, rehabilitation services are also available.
Employers can obtain Workers Compensation Insurance in several ways:
- Private Insurance Company
- State Insurance Fund
- Assigned Risk Pool
- Self-insurance
Other Types of Insurance You May Need: Many customers may expect you to have certain coverage even though it is not required by law. The following are two common examples.
- Surety Bond– Is a form of insurance especially common in the construction industry. It guarantees that a business has the financial ability to perform a contracted service. When a small business owner is unable to obtain this insurance, the Small Business Association may be able to provide a guarantee.
- Fidelity Bond– This insurance protects employers against employees who commit dishonest or criminal acts. Examples are theft, negligence, and fraud. Employees who have direct access to a company’s financial instruments should always be bonded. There are individual and blanket bonds. All of the employees in the company can be covered under a blanket bond.
There are many more types of commercial insurance coverage available than those required by law or business associates. A business’s assets are people and property and the right combination of insurance coverage will provide the necessary security. Call us today to find out how much you can save on commercial insurance to meet all your business needs. We can help you to compare options and select the most competitive quote.
