Who Needs Commercial Insurance

Most consumers are very aware of their need to carry a range of personal insurance policies including home, auto, and life. However, many small business owners underestimate the need to carry insurance for their business. There are many reasons why most businesses should carry a quality commercial insurance policy.

Business that Owns Property

Any business that owns real estate or any personal property will definitely benefit by having commercial insurance. Commercial insurance policies will typically include property insurance that will cover both the property and any business items that are stored inside. Beyond having the protection that it provides, having commercial property insurance will also likely be a requirement of any bank that provides mortgage on the property.  

Those with Liability Concerns

If your business operates in an industry that is prone to liability lawsuits having a commercial insurance policy will be a practical necessity. Commercial insurance policies will typically include a separate liability insurance policy that will provide you with a certain level of liability protection. While any business would benefit from having it, liability insurance coverage is particularly important for any business that operates in an industry that is known to be litigious.

Business Interruption

Any business that is concerned about how a disruption in their business could affect their cash flow would also benefit from a commercial insurance policy. For example, if your real estate being damaged affects your ability to operate, you could lose a lot of money. Fortunately, those that get a commercial insurance policy with business interruption insurance will receive a certain amount of cash flow to cover the business expenses during the period of interruption.

If you are considering getting a new commercial insurance policy, it would be a good idea to contact the Fuhriman Insurance Agency immediately. The Fuhriman Insurance Agency is a leading Boise, ID insurance agency. The Boise ID agency will be able to help you get an insurance policy that meets the needs of your business.