Idaho Surveyor Insurance Policy Information
Idaho Surveyor Insurance. Surveyors use the mathematical principles of geometry, trigonometry, and physics to measure and describe portions of land or sections of the earth to provide accurate data for determining property boundaries on maps or plans. Distances are measured by calculating the degree of various angles between measurement points.
Equipment traditionally includes a 66-ft. long surveyor's chain for measuring short distances and a surveyor's transit with a telescope and a level mounted on a tripod that can rotate vertically or horizontally. The transit is used for sighting longer distances and for determining vertical and horizontal angles.
Today, a tape measure has generally replaced the chain. Modern tools may include electronic distance measurement devices (EDM), global positioning systems (GPS), satellite imaging, 3D scanners, and many other types of equipment. Licensing requirements vary by state.
As a surveyor, you have an important job to do. The information that you relay to the land owner, government agency or anyone else that commissions your services can have a major impact on their decisions. That's one of the reasons that it is important to have the right insurance.
But you don't just want to cover the surveyor part of your job. You want insurance that covers your entire business and protects every aspect of it. The best way to do that is to customize the standard business insurance products for your own unique needs as a surveyor. Let's take a look at those Idaho surveyor insurance products now.
Idaho surveyor insurance protects your surveying business from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Insurance Is Crucial For Surveyor
Without insurance, you will have to pay any expenses that you are liable for out of your own pocket, including legal fees, property damages, and personal injuries; but, with the right Idaho surveyor insurance coverage, you can avoid the financial repercussions that are associated with the risks that your ID surveying business faces.
What Type Of Insurance Should Surveyor Have?
here are two types of Idaho surveyor insurance that you should be concerned about when it comes to covering yourself.
Commercial General Liability - Almost every business out there has general liability insurance. General liability covers you in a variety of situations. The most common example of people used to demonstrate how general liability works is a slip and fall on your premises. However, there is a lot more.
General liability can cover you in the case of an employee slandering one of your biggest clients, paying for your attorney's fees in defending you in court; general liability can cover you if someone is injured while they are at a site you are surveying trips and falls over some of your equipment and injures themselves or if the site that you are surveying sustains property damage due to the work that you have done there then you might be covered under general liability as well.
It depends upon your particular policy and the circumstances, but these are all situations in which general liability insurance is intended to cover you.
There are lots of other situations in which general liability might cover you as well; you're going to need to talk your insurance broker or agent to find out exactly what those are in the surveying business.
Professional Liability - Professional liability insurance goes by many different names. In the medical profession, it goes by malpractice insurance; in other occupations it goes by errors and omissions insurance. But no matter what you call it, the purpose of professional liability insurance is to protect you from any damages that happen from the normal course of your job.
For example, if you have been hired to complete a land survey for a home near protected site, and your survey shows that a proposed build does not encroach upon a protected site but it is later found out that it does indeed encroach, then you are still protected with professional liability insurance as long as you gave them the best information and did your job the way that you are supposed to. Professional liability insurance to cover the cost of attorney's fees and even damages if you are found to be liable in court.
Whenever you conduct a survey and make a mistake, professional liability insurance is there to keep you going and make sure that your business stays afloat. There are a few other types of insurance you may want to consider as well however.
Other Types Of Commercial Insurance
One of your insurance options is commercial automobile insurance. If you use a particular vehicle for your work, then you want to be covered by commercial auto insurance because the coverage extends far beyond the general liability most people give up their personal vehicles. In addition, most insurance companies require commercial auto insurance if you're using your vehicle for business.
You will also need commercial property insurance in order to check your place of business from natural disasters, theft, vandalism and other mishaps. Property insurance is fairly inexpensive, but it is something that every business owner with a brick-and-mortar business needs.
In addition, anyone with salary or hourly employees needs to have workers compensation insurance. Workers compensation covers the medical bills of employees who are hurt on the job. More importantly, it protects you from being sued by those employees more injuries that they sustained while working for you. Workers comp is required by law in virtually every state in the US - so you definitely want to plan for this type of insurance.
ID Surveying Risks & Exposures
Premises liability exposure is very limited at the firm's office due to lack of public access. Any customer area must be neat and floor coverings maintained in excellent condition. To prevent slips, trips, or falls, all areas accessible to clients must be free of obstacles with floor coverings in good condition. The number of exits must be sufficient, and be well marked, with backup lighting in case of power failure. Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls.
The off-site exposures are extensive as surveyor must take their sightings from the most appropriate angle to get an accurate survey. To do so, they may have to set up their equipment in the middle of the street or on a premises not owned by the client. Hazards increase if there is no field guide that provides policies and procedures for dealing with all situations. When interfering with traffic, proper barriers and warning signs are needed in order to prevent accidents.
Professional liability exposure is high because a survey determines the boundaries for properties being purchased, subdivided, or sold. Engineers and architects rely on surveys in making design decisions. Any resulting claim will generally be related to property damage instead of bodily injury or personal injury. For example, if an error is made in road design and the survey was a contributing factor, there may be a claim against the survey firm.
The hazards increase if the firm fails to conduct thorough background checks to verify surveyor' training, background, education, certification, and licensing.
Workers compensation exposures can be high from site work. Surveyor may travel over rough terrain in rural or unpopulated areas, encounter animals, insects, or hostile vegetation, be hit by falling objects, or be injured in a motor vehicle or aviation accidents. Slips, trips, and falls are common. Surveyor may be injured trying to get to a location, set up equipment, and perform the necessary calculations. Non-clients may object to a surveyor being on their premises, resulting in threats or even assault.
Surveyor should check in frequently and have an emergency communication procedure in place. Surveyor who measure roads and other similar points are in danger of being struck by vehicles. Barriers should be in place when doing street work.
Property exposure is generally limited to that of an office, although there may be some incidental storage or an area for meetings. Hazards arise from the considerable storage of survey documentation, maps, diagrams, photos and similar records, although these are now often digitized instead of paper format.
Ignition sources include wiring, heating and air conditioning systems, wear, and overheating of equipment. Storage of paper documents, such as maps, diagrams, or photos, should be in fireproof cabinets. Fire suppression systems must not damage the papers. Theft exposures depend on the amount and type of computer and surveying equipment on hand.
Crime exposure is from employee dishonesty. Hazards increase without proper background checks and monitoring procedures. Ordering, billing, and disbursement should not be handled by the same individual. An annual audit should be conducted.
Inland marine exposure includes accounts receivable if the firm offers credit, computers, special floater, and valuable papers and records for contracts, survey reports, and clients' information. Surveyor' tools, many of which are electronic, should be kept in the office or in a locked vehicle when not in use at an off-site location. The customers' papers on file may be originals that are difficult to recreate.
A morale hazard may be indicated if the surveyor does not keep valuable papers and disks in fireproof file cabinets to protect them from smoke, water, and fire. Power failure and power surges are potentially severe hazards to data stored electronically. Duplicates should be kept off-site to allow for easy restoration in the event of a loss.
Business auto exposure is moderate as surveyor travel to job sites using light trucks or all terrain vehicles designed to transport the surveying team and their tools. If company vehicles are supplied for use, there should be written procedures in place regarding personal use by employees and their family members. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained. and records kept in a central location.
To ensure your surveying business is properly protected, speak with an experienced broker that understands Idaho surveyor insurance.
Idaho Economic Data, Regulations And Limits On Commercial Insurance
If you are an entrepreneur, you need to have more than just high-quality products, great services, and a well-designed business model in order to achieve success. You also need to set up your operations in the right location.
It doesn't matter how high-quality your goods and services are, if your business is situated in a region that lacks the market you are trying to reach and doesn't have a strong workforce, chances are your company isn't going to succeed. Therefore, it's crucial to familiarize yourself with the economy of the state that you are thinking about starting a business in.
Whether you are considering establishing a startup in Idaho or you want to expand your existing operation by opening a subsidiary in the state, read on to learn more about Idaho's economic data.
Additionally we also provide a brief introduction to the commercial insurance policies you'll need to invest in.
Economic Trends For Business Owners In Idaho
The unemployment rate of a state is a good indicator of a state's economy. It indicates whether or not businesses are flourishing and if there are enough jobs to support the state.
As of December, 2019, the Bureau of Labor Statistics stated that the unemployment rate of Idaho was 2.9%, which was 0.6% lower than the national average, which was 3.5% at the same time. Throughout the course of 2019, the unemployment rate remained steady. According to economists, the rate of employment is expected to remain the steady in the upcoming years.
There are numerous locations in the state of Idaho that prove to offer a healthy environment for businesses. These locations include major cities and the suburban regions that surrounded them, such as:
- Couer d'Alene
- Idaho Falls
- Twin Falls
While businesses of all sizes and in various industries do well in Idaho, there are certain sectors that tend to do better. The top industries in this state include:
- Agriculture, with some of the top products being dairy, trout, lamb, wool, craps, seeds, potatoes, and several other types of livestock.
- Food and beverage processing, including canning and freezing plants.
- Healthcare and Biosciences, including nursing, dental hygiene, and physical therapy.
- Hospitality and tourism, thanks to the numerous tourist attractions, including annual concerts, festivals, whitewater rafting, and skiing.
- Manufacturing, specifically of electrical equipment, computer equipment, fabricate metals, and chemicals.
Commercial Insurance Requirements In Idaho
The Idaho Department of Insurance regulates insurance in ID. Idaho mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Idaho requires you to have worker's compensation insurance if you hire even one employee on a regular basis - unless you are specifically exempt from the law. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Idaho also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Armored Car
- Attorney Lawyer
- Background Music Services
- Business Consulting
- Chemical Engineers
- Civil Engineers
- Claims Adjuster
- Commercial Laundries
- Commodity Broker
- Corporate Wellness
- Court Reporter
- Credit Bureaus
- Debt Collection Agency
- Detective Agency
- Diaper Services
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Planner
- Financial Services
- Funeral Directors
- HR Consultant
- Inspection Bureaus
- Insurance Agents & Brokers Insurance
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Office Machine Repair & Maintenance
- Piano Tuners
- Project Management
- Safety Consultants
- Speakers Bureaus
- Temporary Staffing
- Tax Preparer
- Title Abstractors
- Valet Parking
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Money and Securities, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
Request a free Idaho Surveyor insurance quote in Aberdeen, American Falls, Ammon, Ashton, Bellevue, Blackfoot, Boise, Bonners Ferry, Buhl, Burley, Caldwell, Cascade, Challis, Chubbuck, Coeur d'Alene, Cottonwood, Council, Dalton Gardens, Driggs, Eagle, Emmett, Filer, Fort Hall, Fruitland, Garden City, Genesee, Glenns Ferry, Gooding, Grace, Grangeville, Greenleaf, Groveland, Hailey, Hagerman, Hansen, Hayden, Heyburn, Hidden Springs, Homedale, Idaho Falls, Inkom, Iona, Jerome, Kamiah, Kellogg, Ketchum, Kimberly, Kootenai, Kuna, Lapwai, Lewiston, Lincoln, Malad City, Marsing, McCall, Meridian, Middleton, Montpelier, Moreland, Moscow, Mountain Home, Nampa, New Plymouth, Orofino, Osburn, Parma, Paul, Payette, Pinehurst, Plummer, Pocatello, Ponderay, Post Falls, Preston, Priest River, Rathdrum, Rexburg, Rigby, Riverside, Robie Creek, Rupert, Salmon, Sandpoint, Shelley, Shoshone, Soda Springs, Spirit Lake, St. Anthony, St. Maries, Star, Sugar City, Sun Valley, Troy, Twin Falls, Tyhee, Ucon, Victor, Weiser, Wendell, Wilder and all other ID cities & Idaho counties near me in The Gem State.
Also find ID local small businesses by General Liability Class Code and learn about Idaho small business insurance requirements for general liability, business property, commercial auto & workers compensation including ID business insurance costs. Call us (208) 325-5655.