Commercial Insurance: Is Liability Enough?

Liability insurance is the most important part of your commercial insurance policy in Boise, ID. Even if your savings alone can rebuild the entire store after a fire, even if you run a home office and don’t have much physical property to insure in the first place, liability expenses can cost several times what you make in a year. One injury can bankrupt not only your business but your personal finances as well. So liability is, no matter what, an absolute must.

But is it enough?

The answer is that it depends on the nature, size, and scope of your business.

For some businesses, such as those that work entirely online through a cell phone and a team of freelancers, liability should be enough as long as you have the right kind of liability insurance. Advertising liability can help you out if anyone takes one of your newspaper ads for slander. Errors and omissions can save your business in the event of severely misfiled paperwork. It depends on what your particular risks are.

Some businesses with physical locations would rather rely on their savings to replace and repair as needed than buy insurance. This is your choice, of course, but it’s not always a great idea. As a wise man once said: If you can’t buy it twice, you can’t afford it. Even if you have the money to rebuild should your restaurant burn down, your insurance will kick in right away once you get signed up, and then you can put those savings towards expanding or improving the business.

Our advice: Call us at Fuhriman Insurance Agency or visit the Fuhriman Insurance Agency website and let’s work it out. We can compare quotes for you to get the coverage you need in Boise, ID, but more than that, we can help you to figure out what you need in the first place.