Commercial Insurance: What Common Business Items Should be Insured

Besides a physical business building or office space itself, no matter what type of business exists in the marketplace, there is primary property located on-site that is required for a store to function. Generally, this property is used on a daily basis; has a relatively high dollar value associated with it; and is necessary to serve your customers, clients, as well as, you and your employees. Whether you have an online market or bricks-and-mortar store, these operational items usually fall under four categories:

  • Machines
  • Technology devices: desktop and laptop computers, tablets
  • Inventory/Supplies
  • Furniture

To figure out what items in your business should be included under operational business property, just match the applicable work article under one of these categories. The style and brand of these items may vary according to the specific area of business. With this in mind, here is a list of common types of business provisions that fall under these property categories:

  • Machines: fax equipment, copiers, printers, lawn mower, and leaf blowers
  • Inventory: stock items and special order items
  • Technology devices: cash registers, computers, credit card reader, merchant account terminal,
  • Furniture: desks, chairs, tables, lamps

With a list of the business property, you’re ready to insure it against unpredictable risks associated with doing business, such as floods, fires, vandalism, and theft. These unforeseeable circumstances can disrupt your business flow and impact your bottom line dollar, leaving you in dire work straits. Commercial insurance provides coverage for these situations. It helps your business get back up and running by replacing or repairing any such lost or damaged items following an unpredictable occurrence to avoid a long term negative impact to it. At the Fuhriman Insurance Agency, serving Boise, Idaho, you’ll find a menu of commercial insurance coverage to fit your business risk protection needs. So go ahead and insure your business property, it could mean the difference of getting your business back on its feet or shutting the doors permanently.

3 Important Things to Consider When Buying Life Insurance

Picking the right life insurance coverage can be a daunting project. Coverage options are varied and have lots of moving parts. It can be tempting to pick the least expensive coverage and forget about it, but it’s worth taking the time to understand your options and how they can impact your dependents after your death. Broken down into the simplest terms, there are three primary things to consider when buying life insurance.

1) When to Buy: The younger and healthier you are, the lower your premiums are likely to be. The downside is that you may end up paying more even with lower premiums with the extended period of time paying for them. If you plan on building a family, weight the benefit of a lower premium with the time you anticipate paying that premium to find the sweet spot.

2) How Much to Buy: The total value of your insurance coverage can be determined in two basic ways, needs-based or income-replacement. Needs-based takes into account the unique requirements of your beneficiaries while income-replacement is a simple calculation based on your annual income. Needs-based can provide more personalized solutions, but it does take more effort to calculate.

3) What to Buy: There are different types of life insurance policies available, the most common being term and cash-value (or permanent). Most go with term life insurance because it’s simple to understand and often has lower premiums – you simply pick your coverage amount and the duration coverage is in effect. Cash-value insurance can be a better option for some, but is a complex subject. It’s best to consult a professional to help you understand the way this investment-style insurance policy functions.

To help you navigate life insurance options and make the right decision for you and your family, contact Fuhriman Insurance Agency today for an in-depth discussion of their coverage options and a quote that suits your budget.