Insurance Remix: Rocking the Boat? When to Fine-Tune Your Business Coverage
Insurance Remix: Rocking the Boat? When to Fine-Tune Your Business Coverage
Running a business is like being on a roller coaster—full of exhilarating highs and daunting lows. Every day brings new challenges and opportunities. While it may be tempting to think that choosing a business insurance policy is a one-and-done task, the truth is that businesses are constantly evolving, and insurance coverage needs to keep up. So, let’s use those changes in your business as cues to update your business insurance coverage. Here are some situations that should definitely prompt you to revisit your business insurance:
- The Location Shuffle: If your business started at home but has now moved to a rented space or a purchased building, it’s time to ensure your insurance coverage grows with you. As your financial and liability risks increase, a review of your business insurance becomes crucial.
- Gear Up and Amp Up: Whenever you make significant upgrades in inventory, equipment, or even add some slick company-owned vehicles, it’s time to give your business insurance a tune-up. With more at stake, it’s essential to protect against the growing risks that come with your expanding assets.
- Growth Groove: Sometimes, growth sneaks up on us. If your year-to-date sales are rocketing skyward, it’s a clear sign that it’s time to revisit your business insurance plan. Make sure you’re adequately covered as your business booms.
- Ch-Ch-Changes: Did you add a partner, buy out someone, or even go through the exciting process of incorporating? Well, guess what? Your business insurance should reflect those changes too. Don’t forget to trigger a review whenever there’s a shift in ownership or business structure.
Remember, it’s wise to review your business insurance annually, especially if any of the above changes have occurred. As independent insurance agents, our team of professionals is well-equipped to review policies from any company. So, if you’re due for a business insurance review, don’t hesitate to reach out to us today. Let’s rock your insurance coverage and keep your business sailing smoothly through the ever-changing tides!
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
A Global Look at Life Insurance: Trends and Triumphs
From the U.S. to China, explore the surprising global trends and facts about life insurance.
Your Car Knows What? The Surprising Data Your Vehicle Collects About You
Before you trade in your car, learn about the personal data it holds and how to protect your privacy.
Understanding Your Home Insurance Rates: 5 Key Factors
Location, value, age, and more: discover the five factors that directly impact your home insurance rates.
A Trip Down Memory Lane with ‘Happy Days’
From The Fonz to “jumping the shark,” revisit the classic TV show that defined a generation.
Economic Indicators: What Fast-Growing Industries Tell Us
A look at the fastest-growing industries reveals what’s driving today’s economy and our priorities as a society.
Whole Life Insurance: Is it a Worthwhile Investment?
Confused about whole life insurance as an investment? We break down the unique benefits beyond a simple payout.
More Than Just a Car: The Joys and Benefits of Owning a Classic Vehicle
Thinking of buying a classic car? Discover why it can be a great investment and a fulfilling hobby.
Flood Insurance 101: Separating Fact from Fiction
Don’t get caught unprepared. This guide answers your top questions about flood insurance.
Decoding the Past: The Origins Behind Common and Curious Sayings
Unlock the hidden stories behind everyday phrases and discover the surprising origins of familiar sayings.
Essential Foundations: Five Things Your Small Business Needs Today
Setting up for success? Here are five non-negotiable elements for your modern small business.