Category: Commercial Insurance

Basic & Special: Two Forms of Commecial Insurance to Get to Know

Posted on by AgentInsure

If you are in business in Idaho, you know there’s a big difference between income and profit. You also know the difference between an employee and a contract employee. But do you know the difference between Basic Form and Special Form commercial Insurance?

Basic Form and Special Form insurance are both forms of property insurance, but how they cover potential perils to your property are quite different. Knowing the difference can be helpful.

With Basic Form insurance, the specifics of your property coverage are spelled out in the policy. The policy will list each peril that is covered under the terms of the policy. If it is not listed you can assume you are not covered for a particular calamity. Special form insurance, however, takes a different approach. Special Form insurance assumes that you are covered for all perils to your property, unless they are specifically excluded. Many businesses prefer Special Form commercial property insurance because of its wider coverage. They seem to appreciate specifically knowing what is not covered.

An independent insurance agency can help find you the most competitive rates on your business insurance, whether you choose Basic or Special Form. Because they are independent, they can search multiple companies. In Idaho, The Insurance Shop USA is such an independent agency.

We can review your insurance, and scour our vendor companies to get you a rate you will appreciate. You can try us online. Visit our website and get a comparative quote for your homeowner or auto insurance.

Knowing the difference between Basic Form and Special Form insurance can make a significant difference in how you are protected. Knowing the difference between captive and independent agents can make a difference in what you pay. Contact The Insurance Shop USA today, and let us help you start saving money tomorrow!

Does Your Commercial Insurance Policy Cover Theft in Sandpoint, Idaho?

Posted on by AgentInsure

As a business owner in Sandpoint, ID, you are likely well aware of the risks involved in owning and operating a business. In order to protect your company, it is crucial that you take the time to obtain appropriate commercial insurance. However, with so many options available, it can be hard to determine which policy is best for you and your business. Commercial insurance is definitely a must, but it is important to look at what the policy covers before signing up.

Is Theft a Covered Item?

Because theft is common for commercial businesses, it is important that it is a covered item in your business insurance policy. Under most circumstances, theft of goofs or other company property is covered. However, this can still vary from policy to policy. As a general rule, the insurance company will pay for any income loss that occurred as a direct result of the particular theft. If a window or door was broken in order for the criminal to enter your place of business, the repairs are generally covered as well.

You May Want to Consider Additional Coverage

Although the basic commercial insurance policy will probably provide you with enough coverage in the event that a theft does occur, you may want to consider adding additional coverage just in case. Depending on how serious the theft was, your policy may limit the amount of money that they will pay to you. This could cause you to be unable to replace all the equipment and goods that were stolen.

Ultimately, when it comes to your business in Sandpoint, ID, you need to take the time to speak to one of our independent agents. We are here to help you find the most appropriate plan that will match your particular needs. Don't let a theft bring your business down, give our commercial insurance agents a call today!

Is Equipment Breakdown Insurance Necessary for Your Business in Sandpoint, ID?

Posted on by AgentInsure

Whether it is your telephone system or your HVAC system, the equipment inside your office is integral for your business to continue operating for your customers in Sandpoint, ID. When your equipment breaks down, you will suffer a direct revenue loss and your bottom line will significantly be impacted – and not in a good way! Therefore, it is crucial that you take the time to consider equipment breakdown business insurance.

Equipment That May Be Covered

  • Phone Systems – When you phone malfunctions or the phone lines go down, then your business is in trouble. Phones are often affected by heat, moisture, vibration and spikes in voltage.
  • HVAC Systems – When your HVAC system is down, your business can suffer. This is because the lack of air conditioning or heating can mean a reduction in productivity, which then leads to loss of income.
  • Electronics – Almost every business in Sandpoint, Idaho, depends on electronics of some kind, especially computers. Computers are extremely vulnerable to damage because of their fragile and highly sensitive components.

How Equipment Breakdown Coverage Helps Your Business

This type of coverage will typically help provide you with protection in the event that your business suffers a loss due to damaged or faulty equipment. It may help provide you with costs associated with repair or replacement of the equipment as well as other related expenses.

Equipment breakdown insurance can be extremely helpful in the event that your business suffers an equipment failure. With technology driving today's businesses, this type of coverage is essential if it is available. To learn more about this type of coverage and to see if it is available in the 83864 area, contact your independent agent.

Different Types of Commercial Insurance in Sandpoint, ID

Posted on by AgentInsure

You deal with insurance on a consistent basis in your personal life, and you don't stop dealing with many types of insurance simply because you're running a business. In fact, in the business world you're going to be dealing with more types of insurance than in your day to day home life.

One of the reasons for that is many businesses have different areas at financial risk. For example, if your business owns commercial vehicles, fleet insurance or commercial vehicle insurance is a necessity. If you have a large manufacturing plant that's dependent on your equipment properly working, and one of the essential pieces breaks, loss of use insurance helps keep your company afloat until you get a replacement in.

Liability commercial insurance protects your business against lawsuits that involve your business liability in a situation, such as if a customer hurts themselves on your property. A similar insurance option to this, which is mandatory if you have employees, is workers compensation. This provides a payout to employees who are hurt in the course of their work.

Data breach insurance is an up and coming insurance type that handles data security issues. If you experience a hacker problem and lose sensitive customer information, it's essential to have this insurance in place so your business is not brought under by the resulting lawsuits. Cyber-attacks are becoming more and more commonplace, so this type of insurance is becoming essential for many companies.

Talk to us to understand what your options are with commercial insurance in the Sandpoint, Idaho area. Whether you're a home based business or a massive international corporation, we have something to help you with all of your needs.

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