Boise Business Liability Insurance

Boise business liability insurance has two limits: an aggregate limit and an occurrence limit. The aggregate limit is the total amount your insurer is willing to pay, and it is usually twice the occurrence limit. The occurrence limit is the amount your Idaho business insurer will pay in one instance. If these limits aren't sufficient, you may need to purchase and umbrella liability policy to make up the difference.

Having a Boise business liability insurance agent help you to insure your Idaho business can make the process a lot easier. After all, insuring a company is much more complicated than insuring a car, and having an expert help you can make a big difference. On the other hand, you should be cautious when choosing an agent, as they sometimes commit fraud.

Business Liability Insurance Limits

To figure out whether your limits are high enough, you need to consider what kind of lawsuits occur in your industry. You need to look at recent settlements for businesses that are similar to your own, and consider what they cost. Also, you need to check whether your limits include legal fees or not.

If the limits on your Boise business liability insurance policy do not include legal fees, they are considerably higher. If they do included legal fees, you probably need to set them higher than you'd expect. Here's the thing: attorney fees are outrageously expensive, so you need to make sure you don't overlook those costs or underestimate them.

You might want to get an umbrella liability insurance policy in addition to your Boise business liability insurance. Your umbrella policy basically picks up anything extra. It may be less expensive to raise your limits through an umbrella policy than to up them on your basic commercial policy. You need to have Boise business liability insurance to purchase an umbrella policy, though: you can't just purchase it alone.

Here's how it works: say your Boise, ID business gets sued. The total cost is $2 million, but your Boise business liability insurance limit is $1 million. Your umbrella policy would pick up that final $1 million, depending on how much was on your policy. As you can imagine, having an umbrella policy can be a big help in certain situations!

If you're not sure whether or not you need an umbrella policy, you may want to check with a Boise business liability insurance agent. He or she can help you assess the potential risks of your small business, and make sure you have the appropriate coverage. You certainly don't want to find yourself in a costly lawsuit in which you exceed your limits, so plan ahead.

Insurance Agent Scams

Unfortunately, Boise, ID insurance agents do sometimes commit fraud. While it's a rare scenario, it does happen. Boise general liability insurance agents tend to work on commission, and therefore they may be prone to cheating your Boise, ID company in some way or another. So, be very careful when you choose your Boise business liability insurance agent.

Watch out for well-know scams, too, including sliding and twisting. Sliding is when your agent tries to add extra liability coverage to your policy when you don't need it. Sometimes agents work off a commission that equals a percentage of what you're paying, so they want you to purchase the more expensive policy. Obviously, this isn't great for your Boise, Idaho business, because insurance is expensive!

Another scam is called twisting. Twisting is when an agent keeps have you change insurers, for no real reason. Sometimes the first-year commission is higher than those of later years, and that's why this scam occurs. Ideally, you'll find a great liability insurer, and you'll stick with them for many years.

If possible, it's best to establish a long-lasting relationship with both your insurer and your Boise agent. It will make insuring your business much easier and more pleasant, too. If an incident occurs, it helps to know your insurer. The key is to choose a great agent. Unfortunately, finding a great agent can be somewhat difficult.

Agents, like salespeople, may be very charming and talkative. So, you can be fooled. Then again, not all agents are bad. Some of them are great people who work hard and are trustworthy. It's important that you interview several agents and find one you feel like you can really trust.

Find an agent who has experience with your particular industry, and you'll have an easier time. He or she can anticipate your specific liability risks. Also, a good agent knows the reputations of various Boise business liability insurance companies, and can help you find a trustworthy insurer for your company. Furthermore, he or she can do the hard work of researching quotes, finding competitive rates, and creating a thorough, careful policy to protect your company.

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