Business Insurance in Boise, ID
Get the right commercial insurance for your Boise business
Which insurance policies are recommended for Boise businesses?
General liability insurance
General liability pays for legal costs from customer accidents, along with defamation and copyright infringement claims. Commercial leases in Boise often require this coverage.
- Customer accidents at your business
- Damage to a customer's property
- Slander and other advertising injuries
Professional liability insurance
A professional liability policy covers legal costs related to claims of negligence, such as advice that caused a client to lose money. It's sometimes called errors and omissions insurance (E&O).
- Mistakes that cause financial loss
- Accusations of professional negligence
- Missed deadlines
Cyber liability insurance
Cyber insurance helps small businesses in Boise recover after a data breach or a cyberattack. Every business that handles customer information should have this coverage.
- Data breach notification costs
- Fraud monitoring services
- PR campaigns after a breach
Business owner’s policy
A business owner's policy is an affordable way to buy general liability and commercial property insurance together. It's recommended for low-risk small businesses in Boise.
- Customer slip-and-fall injuries
- Damaged business property
- Theft and vandalism
Workers’ compensation insurance
Workers' comp is required for Boise businesses with employees, with few exceptions. It also covers work-related injuries for sole proprietors, which health insurance may deny.
- Medical bills from job-related injuries
- Disability benefits
- Legal fees from workplace injuries
Commercial auto insurance
All vehicles owned by Boise businesses must be covered by commercial auto insurance. This policy primarily covers injuries and property damage caused by your vehicle.
- Injuries from an auto accident
- Damage caused by your vehicle
- Lawsuits from an auto accident
Errors and omissions insurance
E&O insurance protects consultants and professional services against legal defense costs from dissatisfied clients. It's also called professional liability insurance.
- Errors and oversights
- Breach of contract
- Professional negligence
Commercial property insurance
This policy covers physical damage to a Boise business's building and its contents, including any computers and equipment. You can bundle it with general liability in a BOP.
- Burglaries
- Fires
- Storm damage
Commercial umbrella insurance
An umbrella policy provides coverage once the limit is reached on your underlying general liability insurance, commercial auto insurance, or employer's liability insurance.
- Customer lawsuits
- Auto accident lawsuits
- Employee injury lawsuits
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Which business insurance policies are required in Boise, ID?
Workers' compensation insurance
Idaho state law requires workers' compensation for all small businesses with employees, whether they're full-time, part-time, temporary or seasonal. There are a few exceptions to this rule, including:
- Sole proprietors and independent contractors
- Members of a limited liability corporation (LLC)
- Corporate officers who are directors with 10% ownership of the company
Workers' compensation helps pay for medical expenses related to work-related injuries.
Most workers' comp policies also include employer's liability coverage, which protects the business from injury-related lawsuits.
While single-person businesses (including sole proprietors and independent contractors) aren't required to carry workers' comp, they should still consider it to protect themselves. This policy can help with medical bills related to work injuries, and may be a requirement for certain contracts.
Commercial auto insurance
All Boise small businesses with company-owned vehicles are required to carry commercial auto insurance.
This insurance protects your business if you or your employees are involved in an accident with company vehicles while performing work-related activities and errands.
Idaho insurance minimum requirements include:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $15,000 property damage liability
Certain businesses, such as trucking businesses or those that use utility trailers or cargo trailers, may require higher limits.
In Idaho, personal injury protection (PIP) is not required as an endorsement to your coverage, but it helps provide medical payments coverage if there's an accident, regardless of who was the at-fault driver.
Businesses that use personal, rented, or leased vehicles will need another policy called a hired and non-owned (HNOA) policy.
How much does business insurance in Boise cost?
Small businesses in Boise, Meridian, Nampa, or elsewhere in the state don't have to pay a lot for commercial insurance. Here are a few average costs for Idaho businesses:
General liability: $47 per month
Workers' comp: $33 per month
Professional liability/E&O: $56 per month
Business insurance costs depend on factors such as:
- Type of business
- Business revenue
- Business operations
- Number of employees
- Policy limits and deductibles
- Claims history
FAQs about Boise business insurance
How do I get a certificate of insurance for my business?
With Insureon, you can get same-day insurance in three easy steps:
- Fill out our easy online application to get quotes from top-rated insurance carriers.
- Choose the insurance option that suits your coverage needs and pay for it online.
- Download a certificate of insurance by logging into your account.
Our licensed insurance agents will help you get coverage for your Boise company that matches your specific business needs and your budget.
Most businesses can get their certificate of insurance within a few hours. With this certificate, you can demonstrate proof of insurance for contracts, bids, and other agreements.
Can my business be held liable for a data security breach?
Yes, your business could be held responsible for a data breach, which is why cyber insurance is so important.
Small businesses are a common target of cyberattacks and ransomware attacks since they often have fewer security measures in place.
Idaho data breach laws require Boise businesses to notify any residents "as soon as possible" if they're exposed in a data breach. The Attorney General's office must also be informed within 24 hours.
Your business could also end up paying for a data breach investigation, a PR campaign, and other costs related to a breach or cyberattack.
Cyber insurance covers these costs and provides resources so you can get back to business fast.
Does my industry affect Boise insurance requirements?
Boise requires most businesses to carry a city business license. There may be special requirements for business insurance and bonds, depending on the type of work you do.
Some home-based businesses are exempt from licensing requirements.
Here are a few examples of businesses with other obligations:
- Contractors are mandated to carry commercial general liability insurance to operate in Idaho. They might also need a surety bond to sign a contract or bid on a project.
- Real estate agents and brokers are required to carry professional liability insurance to do business in Idaho.
- Notaries public in Boise are required to carry a $10,000 surety bond.
- Physicians aren't required by law to carry malpractice insurance in Idaho, but some healthcare facilities require it.
- Lawyers are required to carry errors and omissions to practice in Boise.
When running a business in Boise, you need to be aware of laws and regulations for Boise, Ada County, and the state of Idaho.
How can I get help starting a small business in Boise, ID?
Boise offers ample support for new and growing small businesses through associations, government programs, and nonprofits. Here's a list of local organizations available to provide guidance and resources:
- The City of Boise provides guides, licensing resources, and permitting information for small businesses.
- Small Business Development Center Idaho assists entrepreneurs with trainings, events, and consulting.
- SCORE Idaho has no-cost training and consultations for small business owners.
- Boise Metro Chamber assists small business owners with programs, events, workshops, and a small business directory.
- Small Business Administration Boise District provides funding resources, contracting certifications, counseling, and disaster relief support.
Keep in mind that many lenders will require you to first obtain business insurance coverage before they will approve a loan.
How can I save money on Boise business insurance?
Small business owners can save money on insurance by comparing quotes from different insurance companies.
With Insureon, you can get free Boise business insurance quotes from top-rated providers by filling out one easy application.
There are a few other ways to save, such as:
- Bundle policies for a discount. The most popular option is a business owner's policy.
- Choose less expensive policy options, such as lower limits or a higher deductible.
- Focus on minimizing workplace exposures and risk management. Fewer accidents mean fewer claims, which helps keep your premium low.
Learn more about how to find cheap business insurance. You can also speak to one of Insureon's agents to discuss your insurance coverage needs.