Business & Commercial Insurance
Business & Commercial Insurance Quote Forms
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Business & Commercial Insurance Information
The daily operations of any business include various risks and exposures. Regardless of how safe you may believe your workplace to be, you must maintain robust risk management and loss control practices. An integral part of being able to respond to an accident or error is an adequate insurance portfolio.
How Does Business Insurance Work?
The insurance needs of businesses may vary significantly depending on their unique circumstances. By working with one of the qualified experts at Mountain States Insurance Group, your company can gain an in-depth understanding of your risks, hazards and exposures, and acquire optimal coverage to address them.
Business insurance generally does not refer to one specific policy but rather a package of coverages that, when combined, provide adequate financial protection for your business. Most businesses’ portfolios include at least the following:
If your business is responsible for an incident that affects a third party, such as a customer or guest, this coverage can help pay for the following costs:
- Repairing or replacing damaged property
Commercial property—This coverage, also known as business property insurance, provides financial assistance if property used to operate your company is damaged, including the following:
Business income—This type of insurance, also known as business interruption insurance, can cover the following expenses and losses arising from a temporary pause in your company’s regular operations:
Workers’ compensation—If an employee is injured on the job or develops a work-related illness, this coverage can help pay for the following:
Beyond the aforementioned core coverages, many companies may have additional insurance needs. All businesses have unique circumstances that could affect the risks and exposures for which they must acquire coverage. The following additional types of insurance may also be advisable:
- Commercial auto insurance
- Cyber liability insurance
- Professional liability insurance
- Employment practices liability insurance
- Directors and officers insurance
- Commercial umbrella insurance
What Business Insurance Is Required by Law?
In addition to being a wise investment for protecting your business’s finances and future, certain types of insurance may be necessary to ensure legal compliance. Employers in Idaho may review these business insurance regulations for guidance on mandated coverages. Specific requirements and exceptions may also apply depending on your company’s situation. The agents at Mountain States Insurance Group can help you understand any relevant laws and ensure your insurance portfolio is compliant.
How Much Does Business Insurance Cost?
Before providing you with an accurate quote for business insurance coverage, our agents must assess the details of your company. In most cases, the following criteria will be considered:
- Policy details (e.g., coverage limits, endorsements, deductibles)
How to Get Business Insurance
The importance of business insurance cannot be overstated. With sufficient coverage, your company may be able to access critical funds in its most dire hour. Conversely, without adequate insurance, losses and damages will have to be paid out of pocket, which could have devastating financial consequences.
For over a century, the agents at Mountain States Insurance Group have worked with individuals, families and businesses to address their insurance needs. We will work with you to analyze your business’s circumstances and ensure your insurance portfolio provides optimal coverage. Contact us today to get started.