Reevaluating Your Business Insurance

It's easy to become complacent regarding your business insurance needs, especially if you have been in the same business for quite some time. 
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However, just because things are the same doesn't mean they are necessarily right! With that in mind, be sure to check in on your business insurance annually and reevaluate your coverage. 

1. Change in Goods or Services
   If you're changing what you offer customers or your customers' needs evolve, it can be a good idea to reevaluate your insurance. 
   
   You may find that you need additional protection—or that some of what you have is no longer necessary.
   
   
2. Your Assets Have Changed
   It's not uncommon for businesses to grow, but if yours has undergone a major expansion in its operation or assets, you may need to reevaluate your insurance coverage.
   
   A business owner should update their coverage on an annual basis. Talk with your agent about how changing circumstances might affect current policies. 
   
   
3. Your Coverage is Cookie Cutter
   The last thing you want is a cookie-cutter policy for your business. Too many entrepreneurs find themselves with a policy created for someone else, not them, and it's costing them money. 
   
   If you don't have time to read your coverage options now, take an hour or two out of your day shortly.
   
   
4. Change in Staff
   Sometimes, even small shifts in your staff can change the risk profile of your business. Please don't assume you know everything about your employees or their abilities.
   
   You should make sure you have a good handle on how well they're suited to their roles and responsibilities.

Conclusion
All in all, business insurance is a sort of security blanket for your business. It gives you the reassurance that you have coverage in place if something happens to your property or someone sues you. You'll want to update your policy as new employees are hired and as you open more stores or offices.

At Cornerstone Insurance Agency, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 661-8831 or Click Here to request a free quote. Coverage discussed in this article is not guaranteed. Please contact our agents today to ensure that your needs are being met and learn more about your policy. We are happy to help!