When was the last time you had a check-up? No, not you personally—your business. Just as having a regular medical check-up can help keep you healthy and save you money, a regular business insurance check-up can help keep your business healthy—and save you money.
As your business grows and changes, your business insurance needs will change as well. But too often, business owners fail to regularly check their insurance policies to make sure their coverage has stayed current with the needs of their business.
If any of the following have happened or changed in your business since you last updated your insurance coverage, it’s time for a business insurance check-up:
- Have you added a new location—or have you moved your business to another location?
- Have you remodeled any part of your business location?
- Have you added employees to your business?
- Have you added additional services or products to your business?
- Do you manufacture any products sold in your business?
- Has your business purchased new equipment or sold old property or equipment?
- Do you accept any type of credit payments or use any kind of online transactions?
- Do you maintain customer/client/vendor/supplier/employee databases or records on your computers?
- Has your business bought or sold any vehicles? Do you offer any kind of delivery services?
- Has your business had any changes in ownership?
- Has your business structure changed?
- Do you or any of your employees travel for business—from local meetings to international travel?
- Are your employees expressing interest in benefit programs?
- Have you upgraded or changed your insurance since you opened your business?
Just as you sit down on a regular basis to review your business plan and your marketing plan, you should also meet with your insurance advisor to review your insurance plans and coverages. As your business grows and changes, and as circumstances change in the business world, your insurance coverage should change as well.
Depending on the changes in your business, you may have insurance coverages you no longer need, or you may not have insurance coverages that are now essential for protecting your business. You may need to increase or decrease the amount of certain insurance coverages as well. You don’t want to wait until an emergency arises to find out that you aren’t covered—or aren’t adequately covered.
Annually renewing your insurance policies is not enough. If your business has undergone changes, and you have not reviewed those changes with your insurance advisor, he or she will not be able to properly evaluate and recommend the right insurance to cover your business. Business insurance does not automatically increase in coverage to accommodate your business growth. It’s essential that you keep this information current and meet with your insurance advisor at least annually or when major changes occur to make sure your business insurance meets the needs of your current business.
Request A Free Business Check-Up Today
At Roper Insurance, we believe in helping our clients properly insure their businesses, recommending the coverage each business needs and ensuring that you aren’t paying for insurance you don’t need or more for insurance than you need to. We offer a complimentary business insurance check-up for business owners. If your business is behind on your business insurance check-ups, call one of our business insurance specialists today at 303-721-1145 or contact them via email here. Whether you’re an entrepreneur working from home, a small business owner or running a large corporation, we are happy to review your business needs and help you protect your business with the coverage that is right for your specific needs.
Roper Insurance can also help you with a complimentary review of employee benefit programs, and help you discover ways to offer your employees additional benefits at no cost to you. Contact us today at 303-721-1145 or use this convenient contact form for more information on our free business insurance and benefits reviews to keep your business healthy.