Why This Matters
Funding Without Insurance Is a Liability
Equipment You Finance Needs Coverage
You just financed $400K in equipment. If it's damaged, stolen, or causes injury — and you're uninsured — you're still making payments on equipment you can't use. Equipment financing lenders often require proof of insurance before funding.
Contracts Require Proof of Insurance
General contractors won't sub you without a COI. Hospitals won't credential you. Property managers won't sign your lease. Commercial insurance isn't optional — it's the cost of doing business.
Your Employees Are Your Biggest Asset
Workers compensation isn't just required in most states — it protects your business from lawsuits that could bankrupt you overnight. One jobsite injury without coverage can cost more than your entire annual revenue.
Coverage Types
What Funded Businesses Need to Know About Commercial Insurance
General Liability (GL)
Covers third-party bodily injury, property damage, and personal injury claims. Required by most commercial leases, contracts, and client agreements.
Workers Compensation
Required in most states for businesses with employees. Covers medical expenses, lost wages, and rehabilitation for work-related injuries. Rates vary by industry — construction and trucking pay more than office-based businesses.
Business Owner's Policy (BOP)
Bundles general liability with commercial property insurance at a discount. Ideal for businesses with a physical location — offices, shops, restaurants, clinics. Often 15-20% cheaper than buying policies separately.
Commercial Auto
Covers vehicles used for business purposes — delivery trucks, service vans, fleet vehicles. Personal auto policies don't cover commercial use. Required for trucking, construction, and any business with a vehicle fleet.
Professional Liability (E&O)
Protects against claims of negligence, errors, or failure to deliver services. Critical for attorneys, healthcare providers, consultants, and any service-based business.
Equipment / Inland Marine
Covers tools, equipment, and materials in transit or at job sites. Standard property insurance often doesn't cover equipment outside your premises. Essential for construction, trucking, and field service businesses.
Cyber Liability
Covers data breaches, ransomware, and cyber-attacks — including notification costs, recovery, and liability. Increasingly required for healthcare, law firms, and any business that stores customer or payment data.
Commercial Umbrella / Excess
Extends your liability limits above your GL, auto, and workers comp policies. A single large claim can blow past base limits — umbrella coverage is the cheap layer that keeps it from reaching your assets.
Contractor COI Packages
Many contractors need certificates of insurance (COIs) for every job. Direct Insurance Services specializes in fast COI issuance — so you never lose a job over paperwork.
By Industry
Insurance for the Industries We Fund
The same businesses Basecamp Funding finances need coverage built for their risk. Here’s what each industry typically carries — and where to fund it.
Our Partner
Direct Insurance Services — Commercial Insurance Across 29 States
Direct Insurance Services is a commercial insurance broker licensed in 29 states, and our partner for the coverage side of the businesses we fund. They specialize in the same operators Basecamp Funding serves — so the broker quoting your policy already understands a contractor’s COI requirements, a trucking company’s fleet exposure, or a restaurant’s liability profile. Get funded here, get covered there, without explaining your business twice.
Free quotes · No obligation · Fast COI issuance · 29 states
The Full Picture
Fund It. Insure It. Grow It.
Get Funded Through Basecamp
See your options from 70+ lending partners. $1M+ funded in as little as 48 hours when your file's ready.
Protect It Through Direct Insurance Services
Get commercial insurance quotes for the equipment, employees, and operations you're funding. Same industries, same network.
Grow With Confidence
Funded and insured means you can take on bigger contracts, hire more people, and scale without the risk of one incident setting you back.
FAQ
Frequently Asked Questions
Do I need insurance if I'm getting equipment financing?
Most equipment financing lenders require proof of insurance before funding. Even if not required, protecting a $250K-$2M asset with equipment coverage is essential. A claim without coverage means you're still making payments on equipment you can't use.
What insurance do contractors need for a COI?
Most general contractors require subcontractors to carry general liability ($1M/$2M), workers compensation, and commercial auto at minimum. Some require umbrella/excess liability and inland marine. Direct Insurance Services specializes in fast COI issuance.
How much does commercial insurance cost?
Costs vary significantly by industry, coverage type, and risk profile. General liability for a lower-risk business is modest; construction and trucking pay more due to higher risk. Get a free quote from Direct Insurance Services for an accurate estimate.
Is Direct Insurance Services affiliated with Basecamp Funding?
Direct Insurance Services and Basecamp Funding are partner companies that serve the same industries. Basecamp Funding handles business lending (connecting you with 70+ lending partners) while Direct Insurance Services handles commercial insurance across 29 states.
Can I get insurance if my business is less than 2 years old?
Yes. Direct Insurance Services works with new businesses. Some coverage types like general liability and workers comp are available from day one. Rates may be higher initially and adjust as you build operating history.
What states does Direct Insurance Services cover?
Direct Insurance Services provides commercial insurance across 29 states. Contact them directly for specific state availability and coverage options.