Choose The Hartford for All Your Idaho Business Insurance Needs
The Gem State is home to 158,426 small businesses, making up 99.2% of companies in Idaho state, as of 2018. Those small businesses employ 304,700 employees. In this case, small businesses in Idaho are defined as businesses with fewer than 500 employees.1 Businesses have been protecting themselves in Idaho with business insurance from The Hartford for hundreds of years. Learn more about Idaho small business insurance, commercial property insurance and Idaho workers’ compensation insurance from The Hartford.
Types of Idaho Business Insurance Offered
Idaho Business Owner’s Policy Insurance
An Idaho Business Owner’s Policy combines both business property insurance and business liability insurance into a single policy for your Idaho small business. A Business Owner’s Policy (BOP) from The Hartford can help protect your Idaho business from the costs of damages from things like theft, fire or another covered disaster. BOP coverage can also help your business cover the costs related to claims it caused personal, advertising injury, bodily injury, and/or property damage that could arise during the day-to-day operations of your business.
Purchasing a BOP is smart and straightforward. It simplifies coverage needs by including business property and business liability insurance into one policy. These are two important coverages that most businesses need. You can also tailor a BOP to address the unique risks facing your business by adding additional coverages and endorsements like data breach insurance, business income insurance and more.
Consider a BOP if:
- Your business has property that can be damaged or stolen. This includes not only physical property but digital hardware and software, tools, inventory, furniture, office equipment, customer information and other important or proprietary data.
- There is potential for someone to sue your business. For example, a customer gets hurt by falling objects in your workplace and sues you for their medical costs.
- Your business has a physical location; this can be your home office, a rented or owned office or another place where you do business.
Idaho Workers’ Compensation Insurance
Idaho workers’ compensation insurance, or workmans compensation insurance, provides benefits to Idaho employees for work-related injuries or illnesses. This Idaho insurance coverage includes medical care, help replacing lost wages when unable to work due to a work related injury or illness, and more. Workmans’ compensation insurance coverage may also provide a deceased worker’s family with financial compensation. If a family of an employee decides to sue your business, workers compensation insurance may even help cover the legal fees.
Worker’s Compensation Insurance can help protect your Idaho business and employees from the costs of accidents such as these:
- An employee slips on the wet floor in the bathroom at work, injures her shoulder and requires a hospital visit and multiple weeks of recovery time.
- An employee injures his upper back moving desks into a new office area and requires a doctor’s visit, medication, and physical therapy for four weeks.
- An employee is returning to the office from a press conference and is injured in a multi-car accident, requiring an ambulance ride to the hospital and medication to help heal his wounds.
The Hartford workers’ compensation insurance can help cover medical expenses associated with work related injuries. Workman’s comp insurance can also help employees replace their income while they are off from work to recover from a work related illness or injury.
Idaho Commercial Property Insurance
Commercial Property Insurance in Idaho can help protect your business from the costs of damages to the building your business in Idaho owns or leases, as well as your business’s personal property. This includes things like tools, equipment, furniture, and inventory. A commercial property insurance policy can include coverage for computers, accounts receivable, and lost income when a business must suspend operations due to a covered loss. Your Idaho business can tailor this coverage to include additional protection like valuable papers and records coverage. This coverage can help pay to recreate or reproduce essential documents damaged in a covered accident. It can also cover the costs to move records and documents to temporary storage to avoid a loss.
Commercial Property Insurance provides protection designed to help get your ID business back on its feet after a fire, theft or other covered loss.
Idaho Commercial Auto Insurance
Idaho Commercial Auto Insurance can help your Idaho business cover the financial costs from a car accident if you or an employee is found to be at fault. The Hartford's commercial auto insurance coverage can help pay for medical expenditures and damaged property, even if the collision is fatal.
Commercial Auto Insurance can help protect your Idaho business if:
- An employee is driving a company-owned work vehicle and hits someone crossing the street. That pedestrian requires medical treatment resulting in substantial bills.
- An employee swerves off the road to avoid hitting an animal while driving for work. They take out a residential mailbox and must pay to repair it.
- You are driving from the office to meet a client and accidentally crash into another vehicle and total it.
Idaho Minimum Business Insurance Requirements
The state of Idaho requires a business to maintain a workers’ compensation insurance policy if they employ one or more full-time, part-time, seasonal or occasional employees.2 The Idaho State Insurance Fund was created by the Idaho Legislature in 1917 as part of the Workers Compensation Act. This act created the Idaho State Insurance Fund to provide a reliable source of workers’ compensation insurance for Idaho employers and to provide security for the payment of benefits to covered workers.
Additional Idaho Business Insurance Links
- Business Income Insurance
- Commercial Flood Insurance
- Commercial Umbrella Insurance
- Data Breach Insurance
- General Liability Insurance
- Management & Professional Liability
- Surety & Fidelity Bonds
- Home-Based Business Insurance
- Employment Practices Liability
- Risk Engineering
- Loss Sensitive (Deductible) Solutions
Get a quote on Small Business Insurance for your business today.