General Liability

General Liability Insurance helps cover costly claims that can occur during normal business operations. For example, if a customer gets hurt after slipping and falling while at your business, your General Liability Insurance will step in to pay any claims or defend you in any false claims filed. Within a General Liability policy, specific endorsements can be added to enhance its coverages. Things such as property damage liability, advertising injury, and reputational harm can be added to your GL policy to protect you even further.

Commerical Auto

Commercial auto insurance is designed for businesses. The limits of liability for a commercial auto policy are generally higher than a personal auto policy. This is to protect the business more from a high liability claim. It also may be required by the other businesses the policyholder is doing business with. A commercial auto policy can also contain endorsements a business owner may need. A few of the more common endorsements are non-owned auto, hired auto, and cargo coverage. Rates for commercial auto coverage vary depending upon many factors such as business classification, number of vehicles, and radius traveled.

Commercial Property Insurance

Commercial property insurance is designed to protect the business owner’s tangible assets. This would include buildings, furnishings, software, tooling, inventory, etc. Commercial property insurance can cover both building and contents, or one or the other. A lessor’s risk policy would generally only include the building coverage.  The tenant (lessee) of the building would purchase a separate policy for their contents (business personal property).

Business Owners Policy

The business owner’s policy (BOP) is a policy designed to cover a business owner’s needs. A BOP can include commercial auto, general liability, commercial property, umbrella, etc. The BOP is only available to specific business classifications. The BOP is going to include many endorsements/extensions that are not included in a mono-line policy. Each of these endorsements can be very beneficial to the policyholder. The BOP can be tailored to the business as it grows and requires more coverage.

Worker’s Compensation

Workers Compensation is a type of insurance created to protect both employers and employees in the event of an injury while on the job. It benefits the employee when injured by paying for medical expenses and lost income while recovering from the injury. It benefits the employer by having a known up-front cost for coverage and defense for suits filed against them for benefits payable by the insurance carrier. On top of that, it is required in the State of Idaho to carry work comp insurance if you have any employees.

Errors and omissions insurance (E&O) helps protect your businesses from mistakes or errors in the professional services they provide.  E&O is designed to protect employees and employers against claims of negligence or inadequate work.  So, any small business that regularly gives their customers advice or offers services to clients should get this coverage.

Examples of E & O coverages:

• Work mistakes and oversights
• Accusations of negligence
• Undelivered services
• Missed deadlines

Commercial Umbrella

Commercial umbrella insurance can act as another layer of protection once general liability insurance, commercial auto insurance and employer's liability coverage have been reduced or depleted.

Without umbrella insurance coverage, business owners may have to pay out of pocket for lawsuits, medical expenses or other damages that their current policy doesn't cover.  So give us a call today to find out more about commercial umbrella insurance.

Examples of coverage:

• Legal costs
• Medical bills
• Damage to other people’s property
• Judgments and settlements

Bonds

A bond is a three-party contract which the bond company (1) promises to pay any losses accrued to the party requesting the bond (2) on behalf of the insured (3) if ever needed. Essentially, the bond company is guaranteeing funds on behalf of the insured. If the bond is ever paid, the bond carrier goes after the insured to recoup the money. So in a sense, a bond is similar to a loan. There are thousands of types of bonds, but some of the more common ones include bid bonds, license and permit bonds, and performance bonds.