If you are in business in Idaho, you know there’s a big difference between income and profit. You also know the difference between an employee and a contract employee. But do you know the difference between Basic Form and Special Form commercial Insurance?
Basic Form and Special Form insurance are both forms of property insurance, but how they cover potential perils to your property are quite different. Knowing the difference can be helpful.
With Basic Form insurance, the specifics of your property coverage are spelled out in the policy. The policy will list each peril that is covered under the terms of the policy. If it is not listed you can assume you are not covered for a particular calamity. Special form insurance, however, takes a different approach. Special Form insurance assumes that you are covered for all perils to your property, unless they are specifically excluded. Many businesses prefer Special Form commercial property insurance because of its wider coverage. They seem to appreciate specifically knowing what is not covered.
An independent insurance agency can help find you the most competitive rates on your business insurance, whether you choose Basic or Special Form. Because they are independent, they can search multiple companies. In Idaho, The Insurance Shop USA is such an independent agency.
We can review your insurance, and scour our vendor companies to get you a rate you will appreciate. You can try us online. Visit our website and get a comparative quote for your homeowner or auto insurance.
Knowing the difference between Basic Form and Special Form insurance can make a significant difference in how you are protected. Knowing the difference between captive and independent agents can make a difference in what you pay. Contact The Insurance Shop USA today, and let us help you start saving money tomorrow!
