Buying Commercial Insurance

Commercial insurance is an essential aspect of any business. Your business is one of your greatest assets, so it makes sense that you would speak to the Infinity Insurance Group serving Post Falls, ID about protecting your assets.

When buying commercial insurance, you first need to look at the state-required insurance for businesses. In ID, workmen’s compensation insurance is a type of liability insurance for if employees become ill or injured at work or due to work and is required by law.

When you are buying insurance, you need to be very clear about your requirements. Where is the most risk to your business, and what type of business are you in? A bakery store will have different insurance requirements when compared to an auto repair shop or a factory.

Do you have a lot of assets that need protection from theft, vandalism, or damage? What are the values of these assets? To insure your assets correctly, you need to know their worth.

Where are you open to the possibility of liability? Cover these well. Legal liability can often break a business, and legal costs and settlements can cost millions of dollars. Certain liability policies will include financial cover for defense costs.

Do you have vehicles that you use for your business? Are these correctly insured, and are your drivers correctly listed? If you are home-based and use your personal vehicle for business purposes, you may not have adequate insurance.

It is not enough to buy commercial insurance; you need to review your commercial insurance annually or whenever there are big changes in your business. Speak to the Infinity Insurance Group serving Post Falls, ID and ensure your business and assets are correctly and adequately covered.