To Stay Protected, Ask Yourself: Has Your Business Changed?
As a business owner, you have invested countless hours and tireless energy into growing your business. At this point, you eat, sleep, and breathe your business. That means that some changes in your business might be difficult for you to notice without taking a step back. Unfortunately, that can leave you lacking insurance coverage. Because you are in the trenches of your business, you may not notice how it is evolving.
Has your business changed in any of these areas? If so, your insurance coverage should change, too.
- General: Has your business name, location, or ownership changed? Have any of your operations? For example, if you are distributing to new areas, offering a new service, or selling a new product, take note.
- Transportation: Has your vehicle usage changed? For example, are delivery routes different? Have you added or eliminated any cars from your business’s use? Has it been more than a year since you took the time to review your deductible and liability limits? If so, it is time to take a look at your coverage.
- Property: Have your lease terms changed? Or, if you own your business property, have you installed any new security measures? Have you had your business appraised in the last year so that you know its current value? Make sure you still have sufficient coverage for your place of work.
- Workers’ Compensation: Has your number of employees changed since you last reviewed your coverage? Have you added any interns or volunteers?
If you notice that your business has changed in any of these areas, it is time to update your business insurance so that your coverage stays current. Contact Hoffman Brown Company in Sherman Oaks, California for all of your business insurance needs. We can make updating your policies quick and painless so that you can get back to focusing on your core business.
