How to get Atlanta contractor insurance

Get contractor insurance

Get contractor insuranceIf you’re a contractor, you have a lot on your mind. There are a lot of jobs to get to, and there’s a lot of work to be done. But things don’t always go as planned. Not to be a harbinger of doom, but there are a lot of potential catastrophes you have to protect yourself from. Contractor insurance is a great plan, but how do you get Atlanta contractor insurance? Well, it might appear to be a daunting process, but we’ll break it down.

How to get contractor insurance.

1. Know your risks.

Well, you first have to know what you’re up against. What sort of risks do you face on a day-to-day basis? The risks depend on what kind of business you have – do you do drywall installation, HVAC work, or handyman services? You need to be prepared to protect yourself from these things. For example, do you have an office containing your tools and business equipment? Do you have a truck for your business? Do you bring your tools back and forth from jobs? Do you have to leave materials at the job site? Do you have employees? Could you accidentally cause damage to someone’s property – or, well, someone? Chances are that the answers to at least a few of these questions are yes. But fear not – that’s why there’s business insurance!

2. Know what insurance coverages you may need.

It’s not a bad idea to familiarize yourself with the various insurance coverages you may need for your contracting business. Here are a few you may want to consider:

  • Business personal property
  • Contractors tools and equipment
  • Goods in transit
  • Installation floater
  • General liability
  • Auto liability and physical damage
  • Workers’ compensation
  • Building
  • Employee dishonesty

However, these may not be the only coverages you want to consider for your business. That’s where our agents can help – we’ll help you get the coverages you need to protect your business.

3. Get started with Atlanta contractor insurance quotes.

The prospect of getting insurance for a contracting business might seem a little intimidating, and there are a lot of aspects about it that could feel overwhelming. That’s why we strive to make insurance as easy as possible. We want to make the process of getting contractor insurance in Atlanta painless. How do we do that? Here’s a look at our quoting process.

You let us know you’re looking for contractor insurance.

The first step happens when you let us know that you’re in need of quotes for Atlanta contractor insurance. We have a few ways you can get in touch with us – you can use our online quote form, give us a call, or message us on LiveChat. You can choose the most convenient method of contact for you, and we can even text or email with you if that works best for you. Like we said, we want to make insurance easy.

One of our agents gets to know your business.

One of our agents will talk with you and ask a few questions so we can help you get the insurance you need. We know you’re busy, so we don’t keep you on the phone too long. We just want to be able to properly assist you with your contractor insurance by understanding your Atlanta business.

We get your quotes.

The next part of the process is us getting some Atlanta contractor insurance quotes for you. We work with a lot of carriers, so we’ll gather some different options for your insurance. Our agents are great at shopping for business insurance quotes, and we can help you create an insurance plan that’s customized to your business’s unique needs and risks.

We’ll go over your insurance quotes with you.

We’ll keep you posted on the status of your quotes, and we’ll go over your options with you. Our team can also answer any questions you might have about the coverages and limits you’re considering. We know insurance can feel complicated, so we’ll break down the coverages and clarify anything that needs clarifying.

We’ll be here for your insurance needs.

We won’t just vanish after we get your quotes. Our team will be here to help answer any questions you may have about your coverage, and we’ll be here to handle any issues that arise. We’re only an email or phone call away if you need anything. You’ve got our team to run “tech support” as needed on your insurance policy, so don’t hesitate to reach out to us!

Getting contractor insurance might seem impossible and dreadful, but you don’t have to worry when you work with our agents. We want to help you get affordable Atlanta contractor insurance – not make you pull your hair out in frustration. So what are you waiting for? Fill out our online forms, give us a call, or send us a LiveChat. Find out just how easy contractor insurance can be.

How to get daycare insurance

Get the right daycare insurance for your business

Get the right daycare insurance for your business

Opening a daycare can seem overwhelming. Daycare owners must not only watch out for the risks of a normal customer service business, but also for kids generally being their rambunctious selves. So, as a daycare business owner, how can you protect yourself from the specific day-to-day hazards? Let’s take a look at how to get the best daycare insurance for you.

How to get daycare insurance.

1. Think about your risks.

There are numerous risks to consider at a daycare – both for parents and children. So, to start searching for the right insurance, you’ll need to ask yourself about the situations you could be held liable for. For example:

  • What if a child is seriously injured?
  • What if a parent is injured while visiting the property?
  • What if my employees are injured at work?
  • What if something happens to my building, and I have to close for repairs?
  • What if someone is robbed or their car is broken into in my parking lot?
  • What if I give out a snack that makes a child sick?
  • Can and have I properly secured cleaning products and other materials out of the reach of the children?
  • If I offer shuttle services, what happens if I’m in a wreck?

These are just a few of the things that daycare owners will have to consider before opening and during their operations.

2. Consider the coverages you may need

Once you’ve assessed the daily risks you may face, it’s a good idea to get a general sense of the insurance that can help if you’re faced with those dangers. Typically, businesses will need:

General liability

General liability coverage can help businesses with expenses, such as medical bills and legal fees, if a visitor is hurt on the property. (For your daycare, make sure you understand who would be covered under your general liability policy.)

Property coverage

Property coverage can help repair your company’s building if it is affected by a covered loss like fire. Remember, though, that commercial property insurance doesn’t cover all disasters. For instance, floods are typically not covered by a business insurance policy. Coverage for that requires an entirely different flood insurance plan for businesses.

It's important to have the right daycare insurance

Business interruption

Speaking of disasters, there can be tons of continuing expenses that occur while you’re rebuilding your business. So, you’ll want to consider business interruption coverage to help cover costs such as lost income to your daycare or expenses associated with relocating your business temporarily if you’re hit by a covered loss.

Workers compensation

Another important coverage to consider (in fact, you may be required by law to have it) is workers compensation insurance. If one of your employees is hurt on the job or for job-related purposes, that would be terrible, but workers’ comp can help pay for their medical bills and part of their salary while they’re out.

Professional liability

Professional liability coverage can help cover legal costs due to an employee giving out improper information or neglecting a child in the classroom. Even if the employee had taken the proper measures and care, if a parent sues, professional liability insurance is a great coverage to have to cover the costs of defending the employee and your daycare business.

Commercial auto insurance

If you want to take your tykes on field trips, you’ll need to consider commercial auto insurance coverage for your daycare van or other mode of transport. Personal auto policies are typically built for handling the risks of casual driving and commutes, not other business purposes. So, having a commercial auto policy when using any type of vehicle for business purposes can be a great investment.

Other coverages to consider

Although the previous types of common business insurance coverages can cover daycares in different ways, there are still certain, specific policies that daycare owners must also consider to properly protect their company, such as:

  • Abuse & molestation liability
  • Accident medical insurance
  • Cyber liability
  • Crime insurance
  • Umbrella insurance

3. Get quotes on daycare insurance

Thinking about these risks, you’ll want to make sure you’re getting the daycare insurance you need while paying the best price. It’s important to properly manage the risks of parents, visitors, and children to your daycare. However, sifting through various types of insurance plans and carriers with different types, amounts, and conditions for coverage can seem like a stressful, never-ending process.

That’s why our experts strive to make the insurance process as easy and pleasant as possible with these 5 steps:

1. Contact us.

We want to make sure we’re easily accessible to you from the very start. So, give us a call, fill out our online form, or LiveChat with one of our specialists – whichever is easiest – so that we can start to understand your business.

2. We’ll have a quick chat.

Once we’ve heard from you, one of our agents will have a quick conversation with you to hammer out some minor details that they’ll need to get you the best insurance for your business.

We know that getting to know your business inside and out is the best way to get the most accurate rates and shop for the perfect coverage fit for you. However, we also know that you’re busy – with tots, parents, and more. So, our agents are accessible through phone, email, or text message. Just let us know what you prefer!

3. Our experts start shopping for your quotes.

Like we’ve said, we know that you’re a busy bee. So, we’ll take the time to shop for the daycare insurance that fits you. That way, you don’t have to take tons of time out of your busy day to get wrapped up in insurance coverage options. Just leave it to us!

Our agents have tons of experience and tons of connections to the best of the best insurance carriers and plans. So, you can rest assured that after we get to know your business, we’ll pair you with the best carriers and plans that fit your needs.

4. We’ll go over your options.

Once we’ve gotten your daycare insurance quotes, we’ll present you with only the best business insurance options. Our experts will go over the best policies that can handle your specific risks. We want you to know how your insurance will work for you and that you’re getting the best rates on quality coverage.

5. We’re always here to help!

After we’ve paired you with your perfect policy, don’t worry, we’re not going to just ride off into the sunset. Our agents are always here to help if you have questions, concerns, or changes to make with your policy. We’ll even shop your rates year after year so that you can rest assured that you’re getting the lowest rates on great daycare insurance.

Getting your daycare properly insured can seem completely overwhelming, but our specialists are here to make business insurance easy. To start getting free, customized quotes on affordable daycare insurance, call our experts today, fill out our online form, or LiveChat with an agent today!

Does general liability cover employee injuries?

Employee injuries

Employee injuries

Businesses need a lot of different insurance coverages in order to protect themselves from different risks. One common business insurance coverage is general liability insurance. (It’s a really important coverage for business owners.) While this coverage is common, that doesn’t mean people don’t have questions about it. One frequent question is this – does general liability insurance cover employee injuries? We’ll take a look.

Does general liability insurance cover employee injuries?

General liability can help protect your business against claims of third-party bodily injury or property damage. It can help cover things like medical expenses, lawsuits, settlements, and attorney fees. (Of course, the claim must be a covered one.) This is such a fundamental coverage that it’s typically included in a BOP (business owner’s policy), which is intended for small to medium-sized businesses.

To give an example, this is the coverage that could come into play if one of your customers slips and falls, injuring themselves on your premises. (People can sustain serious injury from a simple slip-and-fall. It can be a big deal.)

Anyways, lawsuits can be devastating to businesses, so it’s important to protect against them. But let’s get back to the question at hand – does general liability cover employee injuries?

To give a simple answer…no. Typically general liability insurance won’t cover an employee injury. That’s not what it does. So that might leave you with a follow-up question: what is an employer to do if an employee gets hurt on the job? The answer lies with worker’s comp insurance.

What does worker’s compensation insurance do?

Workers’ comp is the coverage that can help if an employee is injured on the job. So, though general liability won’t help if an employee takes a spill, slices their hand, or falls down a flight of stairs, that’s what workers’ comp is for. It can provide benefits if an employee is hurt or gets sick because of their job.

Workers’ compensation can cover the following if an employee is hurt on the job.

  • Medical expenses. If an employee is injured while on the job, workers’ comp can take care of their medical bills. It can also cover the cost of rehab if the employee needs it. Considering how expensive medical expenses can be, this could be very helpful.
  • Disability. If an employee is disabled because of a workplace injury, workers’ comp can help by paying disability benefits based on the severity and permanence of the disability.
  • Lost wages. Workers’ comp can also help by paying an employee a portion of the wages they lost if they need to take tine off to recover. That way the employee doesn’t have to worry about the bills piling up.
  • Death benefits. If the worst happens and an employee is killed on the job, workers’ comp can pay death benefits to their dependents.

So, you can see why workers’ comp is so important that Georgia may require you to carry it.

Quick tips to lower your workers’ comp costs.

Though workers’ comp is a crucial coverage for businesses, that doesn’t mean that you want to break the bank paying for it. Here are a few tips for lowering your workers’ comp costs.

  • Check your insurance policy. Make sure your job classifications and payroll information are accurate.
  • Invest in safety to reduce the chance of an accident. This can help you improve your claims history, which can help lower your costs.
  • Have a return-to-work program. A return-to-work program helps employees come back to work by providing them with tasks that have been modified according to what they’re able to do as they recover.
  • Make sure that employee injuries are reported promptly. This is really important.
  • Take the time to do some detective work and investigate the incident. You can discover ways to prevent the same incident from happening again in the future.
  • Train your employees. Be sure that you spend ample time teaching your employees to do their jobs safely. Make sure they know how to properly use the tools they’ll need to do their jobs.

So, there’s the answer to the question of whether general liability covers employee injuries. Most likely it will not, but workers’ comp is there for that reason. And whether you need workers’ comp insurance, general liability, or both, our team would be happy to help you get the right coverage for your business. Just fill out our online form or message us to get started with your business insurance quotes. Prefer to talk on the phone? No problem – just give us a call.

Why is SEO important for marketing my business?

SEO for small businesses

SEO for small businesses

SEO is a marketing term you’ve probably heard of so much that you’re sick of it. It can seem like a vague, unreachable concept for small businesses, but don’t let the words of others scare you. Optimizing your business for search engines is easy and necessary if you want your company to flourish. So, here’s an easy guide to what SEO is and why your business needs it.

Read moreWhy is SEO important for marketing my business?

How to improve safety at your auto shop

Auto shop safety

Auto shop safety

If you have an auto shop, it’s important to make safety a priority. Auto body shops aren’t devoid of hazards, and these things can hurt your customers or your employees. You need to be conscious of the risks of your shop so you can take steps to mitigate them. That being said, here are a few tips to help you lower the risk of something happening to either one of your employees or one of your customers.

Read moreHow to improve safety at your auto shop

How to get Atlanta landscaper insurance

How to get landscaper insurance

How to get landscaper insurance

If you have an Atlanta landscaping business, you’re probably pretty busy. You might not have too much time to spend fussing over landscaper insurance. And you might wonder what the most efficient way is to go about getting landscaper insurance. How can business owners make sure they get the right coverage to protect their business? We’ll explain how to get landscaper insurance.

How to get landscaper insurance.

1. Know the coverages you need.

Before you venture into getting insurance quotes, you might want to review the coverage you need for your business. There are many types of insurance that you’ll want to consider for your landscaping business. Here are a few:

General liability – GL insurance can protect you against claims that your business caused someone bodily injury or property damage. It can help you cover the costs you’re legally obligated to pay to the injured party, and it can help cover legal expenses if they sue.

Workers’ compWorkers’ comp can help your workers if they get hurt on the job. It can cover their medical bills and it can give them a portion of their lost wages if they need to take time off because they need to recover.

Commercial auto – Commercial auto insurance can help you if you have business vehicles to protect. There are different coverages you may need for your vehicles.

Umbrella insurance – This can provide additional coverage that goes above and beyond the limits on your underlying liability policy.

These might not be the only coverages you need. You may also want to consider…

  • Contractors Tools and Equipment
  • Employee Dishonesty
  • Goods in Transit
  • Installation Floater
  • Employment Practices Liability Insurance

At any rate, it’s a good idea to make sure that you have a customized insurance plan to protect your business from the risks you face. Each business ought to have its own insurance plan that’s set up to meet its coverage needs. We understand that the prospect of getting commercial insurance can seem daunting, but we like to keep the insurance process as easy as possible. There isn’t too much to it – we’ll explain.

2. Our quoting process.

1. You reach out to us.

First of all, you tell us that you’re in need of insurance for your landscaping business. If you like to talk on the phone, you can call us. If you want to fill out our quick form so we’ve got some details about your business, you can do that. And if you want to message us, that’s also fine! Whatever way you’d like to communicate is fine by us. (As we said, we want to make this as convenient as possible.)

2. One of our agents gets the necessary details.

One of our expert insurance superheroes will get the information necessary to get your insurance quotes. They’ll ask some questions so they can get to know your business and better understand the risks you face. We want to be able to get you the most accurate quotes possible and best assist you with your insurance.

3. We get your quotes.

The agent can then get to the heart of the fun – going shopping! We’ll help you get some quotes from the carriers we work with. We’re kind of like your personal shoppers – we’ll do your shopping for you!

4. We’ll present your quotes.

Next, we’ll go over your quotes with you and answer any questions you might have. We’ll explain the different options we have available for you and we’ll help finalize your coverage. Don’t worry – we’ll be here every step of the process.

5. We’re here to help.

Our job isn’t done yet, though – we won’t abandon you once your coverage is bound! Our team is always here to help. If you have any questions, concerns, or changes to your business, we’ll be here to help. We’ll make sure that your insurance still suits your business. If you’ve got any questions, we’re only an email or phone call away.

So, that’s how you can get started with getting landscaper insurance. Don’t worry about getting insurance – we strive to make insurance as stress-free as possible. Get started with quotes by filling out our online form.

18 business insurance words you should know

What business insurance words should you know?

What business insurance words should you know?If you’re a business owner, you know that there’s a lot to find out about commercial insurance. It can be overwhelming. At any rate, there are a lot of fancy words that can be confusing and technical. We’ve picked out some business insurance words that we’ll give quick, simple definitions for. (We put them in alphabetical order, because why not?)

Read more18 business insurance words you should know

7 tips for employee training

Employee training tips

Employee training tips

Employee training can be a tricky subject if your business is just now needing an extra set of hands. Hiring is a vital part of keeping your company running smoothly. Before a new employee starts, though, they have to know how to fulfill their role in your company. How do you know you’re giving your employees the tools they need? Here are 7 tips.

7 tips for employee training.

1. Think about your employees’ day-to-day.

When you’re making an employee training plan, consider what they’ll have to do every day. Write down the tasks that each position will need to do during the day or the week. Then, break those tasks into sections so it’s easier to write specific instructions on how to do them. This will form a good base for deciding how and when to teach new employees certain skills.

2. Train for your employees’ skill level

Different employees have different experience levels and may be used to different processes than your own. When training, account for these differences in skill level to make the process easier or more quickly understood.

For example, there may be a new hire who has experience with a similar computer system to yours. In this case, it’s important to remember that they have a vague knowledge of how the system works, but not the specific details. This way, you can train them to translate their existing general knowledge to your particular system instead of working from the bottom up, as you would with someone unfamiliar with the system.

3. Give people enough time to retain the information

It can be tempting to jam-pack a lot of information into a few training sessions. However, especially when it comes to safety training, this mindset can be dangerous. You’ll need to make sure they retain their training knowledge while they’re on the job. So, create a training timeline that actually allows new hires time to take in what they’ve learned.

4. Consult your seasoned employees

Of course, you don’t have to do it all yourself. If you have long-time employees, enlist their help to help you train, to consult on what knowledge has helped them, and to pass on their expertise about the job to trainees. If your seasoned employees do volunteer to train new employees, offer incentives for their hard work – whether it’s a raise, a bonus, extra vacation days, or another great perk.

If you don’t quite have seasoned employees, consult connections in similar industries. Ask what types of knowledge were valuable in their training. Then, tailor that advice to your particular business.

5. Cross-train your workers

Cross-training employees offers more benefits than helping a short-staffed business owner. It can give your employees a broader view of how your company works. They’ll know what your company goals are and how they help execute them. Cross-training can also teach skills that translate to an employee’s primary role. You’ll be able to offer new employees new perspectives on different departments and teach others how to seamlessly work with other departments to improve the business.

6. Take stock in how effective your training is

Your work isn’t done after just the initial training. You’ll need to monitor employee progress by forming both SMART (Specific, Measurable, Achievable, Realistic, Timely) and qualitative goals for what they’ll learn. Schedule review periods to measure the effectiveness of your process or materials.

Gathering feedback from new hires about training can also be useful. Ask how practical people think the training was after being on the job. Inquire which areas they may have needed more information on. Then, use this information to adjust your training methods for the next group of hires.

7. Refresh and retrain regularly

Continuing education is a staple in most professions, and it shouldn’t stop with yours – even if you don’t need a special license for your line of work. Refreshers on policies and precautions can be an excellent way to make sure that all your employees are on the same page and consistently aware of your business’s basics.

It’s important to invest in your employee training in order to prevent hiccups in your operation, avoid dangerous accidents, and show your employees that you care about their success.

It’s also vital to invest in the right business insurance for anything that’s out of your control. Our experts can help you find the best business insurance to protect you from the unexpected perils of business ownership, especially with employees. To start your free, customized quotes, give our experts a call, fill out our online form, or LiveChat with an agent today.


8 things that insurance agents want you to know about commercial insurance

Commercial insurance 1

Commercial insurance 1Business insurance can be kind of confusing and complicated. There’s a lot of coverages, jargon, and policy information to learn. It’s completely understandable if insurance isn’t your favorite thing. We thought that we’d put together a list of a few things commercial insurance agents want you to know about business insurance – kind of like a cheat sheet.

8 things commercial insurance agents want you to know.

1. Your business insurance rates depend on a lot of factors.

The first thing that insurance agents want business owners to know about commercial insurance is that insurance rates are not one-size-fits-all. Every business is unique, so each business is going to have different insurance rates. Your premium can depend on things like where you’re located, the size of your business, what industry you’re in (the risk associated with your kind of work), and the coverages you need. Your loss history can also influence your rates.

What we’re trying to say is that your business’s insurance rates aren’t going to be the same as one of your competitors, even if that business looks a lot like yours. So, there’s no real “ballpark” for your commercial insurance.

2. The coverages you need are impacted by the work you do.

That one makes sense, right? Different types of businesses need different types of insurance. The type of insurance you need is influenced by the risks you face in running your business. The goal is to cover all of those risks with the proper insurance. So, be sure to evaluate your business’s coverage needs when you plan your insurance.

3. A BOP could help simplify your insurance (and potentially save you money).

A business owners’ policy, or BOP, is intended for small to medium-sized businesses. It combines general liability, property insurance, and business interruption insurance into one convenient policy. Those are three coverages that businesses commonly need, so it’s just easier to pack them into one policy. (Though, of course, it’s important to get additional coverages as needed – certain things, like workers’ comp, need to be purchased by themselves.)

Commercial insurance can feel overwhelming.

4. General liability doesn’t cover your employees.

So, here’s the thing about general liability – it can cover claims of bodily injury and property damage liability if someone gets hurt on your premises. But this coverage doesn’t extend to your employees. They’re covered by workers’ comp insurance. If an employee gets hurt on the job, workers’ comp coverage can help cover their medical bills, plus a portion of the wages that the employee lost while they needed to take time off work to recover.

5. The state may require you to carry workers’ comp.

It’s important to take care of your employees! Besides, workers’ comp is great – like we said, it can pay for your employee’s medical bills if they get hurt on the job, and it can give them a portion of their lost wages if they need time off to recover. At any rate, make sure that you know the requirements for what insurance you must carry.

6. Your business needs an insurance plan that’s tailored to your business.

We talked a little bit earlier about how each business is different. It stands to reason that each business needs to have a customized, specially tailored insurance plan that’s designed to cover the risks that your business faces on a day-to-day basis.

(That’s where we can help – our team can help you with creating that insurance plan! Fill out our online form, give us a call, or messaging us on LiveChat.)

By having a customized plan, you can ensure that there are no gaps in your coverage. (Which is really important.)

7. It’s important to do an annual review of your business insurance and mitigate your risk.

Insurance agents also want business owners to know that you should review your insurance coverage periodically to make sure that your coverage still fits your business. Your business probably doesn’t look the same as it did a year ago, right? Maybe you’ve hired more employees, or maybe you’ve expanded. At any rate, it’s important to check that your limits of coverage – not to mention the coverages themselves – are still appropriate.

It’s also crucial that you take the time to mitigate your risk. This can help you put your business into a better insurance situation. Risk management is essential for any business.

8. Umbrella insurance can provide you with additional coverage.

The insurance you have definitely protects your business, but there is a way to get coverage that goes above and beyond the limits on your underlying liability policy – and that’s umbrella insurance.

Umbrella insurance sits on top of your underlying policy (like an umbrella). If you have a claim that exhausts the limits on your underlying policy, your umbrella insurance can kick in to start covering you. To illustrate, let’s say you have a $1 million general liability policy. That’s a lot of coverage, but you also have a $1 million umbrella policy. Let’s say you have a huge claim, like $1.5 million. The claim is a covered loss, so, fortunately, your general liability kicks in to cover its $1 million. Then your umbrella can cover the remaining $500,000. At any rate, it’s worth considering umbrella insurance as a way to add in-case-of-emergency coverage for your business.

The world of commercial insurance can be complicated, but our team can help. We have agents who are business insurance pros, and they’d be happy to help you get some business insurance quotes and answer any questions you might have about your coverage. Get started with your quotes by filling out our online form, giving us a call, or messaging us on LiveChat.

6 reasons to do a business insurance review every year

It's important to do an annual business insurance review.

It's important to do an annual business insurance review.

If you have a small business, it’s important to keep track of your insurance. Every year, you need to get an “insurance” check-up. It’s kind of like going to a doctor for your annual wellness checkup. Those checkups are to make sure that everything’s good and that you’re healthy. The same thing applies to your insurance – you have to make sure that it’s still a good fit for your business. Here are a few reasons why it’s crucial to do an annual business insurance review.

6 reasons to do an annual business insurance review.

1. Businesses change and grow.

The goal of having a business is to see it grow and thrive, right? But if you’re growing your business, you’re also going to need to make some adjustments to your insurance coverage. Maybe you’ve added some more employees. Maybe your payroll has increased. Maybe you’ve gotten new equipment, or maybe you’ve expanded the type of work you do and thus added some liability risks. These changes matter when it comes to your insurance, so you can’t overlook them.

2. Your coverage needs might change.

With all of the potential changes your business might go through from year to year, your coverage needs might change. It might be time to increase your limits of coverage or even add different coverages to close potential gaps. Doing an annual review of your coverage can help you make sure that your insurance is still fully protecting your business. The goal is to ensure that there are no gaps or holes in your coverage that could leave your business vulnerable to a major loss.

3. Your annual review can help you see potential areas of vulnerability.

On a related note, an annual business insurance review gives you the chance to evaluate the changes to your business to see if these changes have resulted in any vulnerabilities for your business. Do you need to adjust your insurance? You can also take the opportunity to do some risk management. How can you improve safety at your business to reduce the chance of a loss? What things leave you open to a possible loss – in other words, what risks do you face, and how can you mitigate those risks?

Conduct an annual business insurance review.

You can also go over any claims that you’ve had in the last year, be they property insurance, workers’ comp, or general liability claims. Is there anything you can do to lower the risk of that particular thing happening again? Some things are out of our control, but other things we can make safer or take steps to manage.

4. It gives you the chance to read through your policy.

Doing an annual business insurance review can also give you the chance to actually read through your policies all the way. There’s a lot of important information in there, so it’s a good idea to go through the policies carefully. You can see what losses are covered, what losses are not covered, and find out what your obligations are as the insured. Understanding the ins and outs of your insurance is crucial. And you never know – maybe you’ll discover a few questions about your coverage that you want to ask your agent. At any rate, knowing what your insurance policy says is probably a good thing. Nasty surprises when it comes to insurance really are not fun.

5. Insurance isn’t a one-time thing.

Insurance isn’t something that you can just buy once and then forget about it. It’s something that’s more of an ongoing process, really. In that regard, it’s sort of like taking care of your physical health. You don’t just go to the doctor once and then never go again. You go every year even if you don’t think there’s anything “wrong” per se because you want to monitor and keep an eye on things. Catching problems early is better than finding out later on, and the same idea applies to your business insurance. It’s best to find and correct a problem before it turns into a disaster.

6. You can look into different options.

By shopping for your rates every year, you might uncover different options for your insurance. You might be able to get a better price for your insurance. (Insurance is probably a big chunk of your business’s budget, after all.) Of course, it’s important that you don’t sacrifice coverage for the price – be sure to compare apples to apples when you’re looking at insurance.

Our team of business insurance agents can help you with your insurance review, and we can also help you compare business insurance quotes so you get great coverage at a great rate. Get started with quotes by filling out our online form, giving us a call, or messaging us.