May 21, 2021

Small business insurance guide

Do you have a small business that needs insurance coverage? Or are you thinking of changing insurance carriers? Consider Alpine Castle Lake Insurance for the most comprehensive insurance available.

They offer better coverage, prices, and better overall customer service. Let them help you find the right policy to protect your business. Because they represent numerous insurance companies, they can provide the best coverage at an affordable price.

With other insurance companies, you get one insurer that sells one brand of insurance. But with Alpine Castle Lake Insurance, you get choices. An independent agency represents several different insurance companies and can compare coverage and prices to best suit your individual needs.

Insurance Requirements for Small Business

The insurance coverage for small business depends on the type of business you have. Most companies require general liability insurance coverage, especially if you meet with clients face to face.

If you provide professional advice, you should have professional liability coverage. Business equipment, like computers or tools, should have a business owners' policy or BOP, which combines general liability with business property coverage.

Some professions need business insurance, such as healthcare-related fields, which require professional liability insurance, sometimes referred to as malpractice insurance.

Business insurance can also be required to meet the stipulations of a contract.

Don't allow something as important as insurance coverage for small business to remain ignored. A small business requires protection from claims and lawsuits you may not see coming.

Even though a business owner has not made a mistake, they could be sued for just about anything. If someone slips and falls on your property, or a client thinks a job wasn't done the way they expected, the business owner could be faced with a lawsuit or a claim. Business insurance, however, can cover the cost of that lawsuit or claim and the cost of defending the business owner.

The cost of insurance coverage for small business depends on the industry, the size of the company, the type of insurance, and some other factors. Most small businesses pay $30 per month or less for a general liability policy, but costs can vary.

The Difference Between General Liability and Professional Liability Insurance

  • General liability insurance covers another individual's claim for bodily injury, property damage, or personal injury. In other words, if someone gets hurt at your place of business or their property is damaged, you are protected. You are also covered for claims of slander or libel if a claim is made that you damaged someone's reputation.
  • Professional liability insurance also covers your advice or professional services. This is sometimes referred to as omissions and errors insurance because it covers an error you made or something that was accidentally omitted. Professional liability insurance protects you even if the claim against you is found to be without merit.

As a business owner, you know you need excellent coverage to protect your business, your employees, and yourself. The insurance professionals at Alpine Castle Lake Insurance can provide you with all the help you need to make the best decision about your business insurance.

A business owner's policy or BOP combines property, liability, and business interruption coverage for small to medium-sized companies. This coverage in a package is generally less expensive than when separately purchasing the coverage. A business owner's policy allows you to mold the coverage to meet the individual business requirements of your company.

Supplemental coverage is available for:

  • Additional insureds extended liability
  • Personal property debris removal,
  • Equipment and tools
  • Valuable records and accounts receivable protection

In addition to advising you on the correct coverage for your business, Alpine Castle Lake Insurance can offer additional services such as:

  • Loss Prevention Programs
  • With the help of our insurance partners, we assess your business's present condition and advise ways to lower auto, property, workers compensation, or liability losses. Fewer losses will not only reduce your insurance cost but also increase productivity by decreasing downtime.
  • Quick Claim Response
  • When you have a claim and need fast and fair customer service, Alpine Castle Lake works with you to make that happen. That's why they work with companies that have excellent records for settling claims promptly and fairly.
  • Competitive Rates
  • The insurance companies they partner with specialize in certain types of businesses or industries, offering special pricing and coverage.

Do you require general liability coverage that includes operations? Or do you need business auto coverage or commercial property insurance? Regardless of your need, if you are a home-based business, small service provider, or a contractor, the independent agents at Alpine Castle Lake Insurance can help you find the proper combination of business insurance coverage to meet your requirements.

As members of the Idaho Falls community, they are committed to being your advocate in times of need. Contact them today for all your small business insurance needs. You will be glad you did.