Is Your Business Insurance Keeping Up with Your Business?

Your business is something that you hold very dear, but do you know if your business insurance is keeping up with your business?

As a business owner, you and hard work go together like two peas in a pod. You have invested time, money, blood, sweat, and tears into this business and so it’s something that you want to protect. Your employees depend on you, as does your community. As your business grows and changes, your insurance needs may fall behind and leave your business vulnerable to everyday risks.

New Machinery

Your old machines may be covered under your current policy, but any new machinery needs to be added. Your policy is very specific when it comes to coverage, and the machines that it covers only extends to those in your policy. Make sure to update your policy if you purchase new machinery.

Increased Employee Count

Your business will grow and that will mean more employees under your wing, which is great news for your business. But as you hire more people, you need to look at your insurance coverage in order to protect your employees, and your business. More specifically, you need to look at your liability coverage and workers’ compensation limits to provide them with the care they deserve.

Retiring Senior Management

If you, or anyone else in senior management, is going to retire soon, you will need some sort of business succession plan. This plan is not just for you, it’s for your employees too. Your employees will be able to breathe much easier if they know what is going to happen after the senior management person retires. By planning ahead, you and your agent can make sure that the transition goes smoothly.

You need the right business insurance to keep up with your business. Business insurance can give you the peace of mind that you deserve when it comes to the covered damages. Contact the Business Protection Coaches at Stromsoe Insurance Agency for all of your commercial insurance coverage needs.

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