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Certain commercial insurance coverages are often overlooked when protecting your Boise, ID business but can be crucial. At Fuhriman Insurance Agency, we’re able to offer a variety of lesser-known commercial insurance coverages that can safeguard your business against risks that likely wouldn’t otherwise be covered. Here are three to consider:
1. Crime Coverage
Crime coverage is a commercial insurance protection specifically for stealing. It may cover losses resulting from theft, fraud, or embezzlement.
While theft by a burglar is frequently covered under commercial property coverage, this coverage commonly excludes internal theft by employees. For embezzlement and other forms of employee theft, there’s crime coverage.
2. Keyman Coverage
Keyman coverage, or key person insurance, is important if your Boise, ID business highly relies on you (or another essential person). This coverage might help cover costs if a critical employee becomes disabled, passes away, or otherwise can’t run the business. Costs may be paid until another qualified employee can be found, or a lump-sum payment might be given to investors if the company must close.
(Having an employee temporarily not work due to illness typically isn’t covered, nor is an employee leaving for another job.)
3. Business Income Coverage
Business income coverage might help your business survive a prolonged and unexpected interruption financially. If your business must temporarily close due to a covered event, such as a fire or natural disaster, the coverage could pay supplemental payments to cover utilities, rent, wages, and other expenses.
Fully Protect Your Business Today
Ensure your business is protected from the many different risks it’s exposed to. Contact Fuhriman Insurance Agency for help finding all of the commercial insurance coverages your business should carry.