- Insure your business to ensure your ability to protect your income.
Business and Commercial Insurance
- Simplified – Comprehensive – Package Policies
- Home-Based Businesses
- Workers Compensation
Simplified – Comprehensive – Package Policies
Business Owners Policies are designed to include all of the coverage options needed by businesses with operating locations. This includes:
- Building and Property Coverage
- Liability Coverage
- Employers Liability Coverage
- Loss of Income Coverage
- and more- all in one package
Homeowners policies will exclude liability related to any income producing endeavor. A commercial general liability policy will serve to provide home based businesses with the protection needed.
The Idaho Bureau of Occupational Licenses requires that you maintain a Commercial General Liability policy with a minimum of $300,000 coverage. Contractors coverage varies in cost according to the type of contract specialty and the volume of work based on estimated gross income. Most jobs require that a contractor show proof of coverage and provide a certificate of insurance. Contractors may also obtain the following coverage as part of the same policy:
- Builders Risk – to cover a structure while it is being built
- Installation Floater – to cover materials that have been delivered before they are added to the structure
- Tools – Hand and electric powered tools owned by the contractor and transported and used at job sites
- Mobile Equipment – Tractors, excavators, and other equipment can be insured when owned or rented
- Vehicle Coverage – Work trucks and trailers can be insured by the contractor in name or in the name of the business
If you have employees, you need to have worker’s compensation for your employee(s). There is criteria that defines an employee vs a sub-contractor. If you provide direction, provide the tools, and pay hourly, your worker is most likely going to be legally considered an employee. You are required by law to have workers compensation insurance on all of your employees. We can provide that coverage through our brokerage department.