When you own a business, you have a lot to protect, and the right small business insurance coverage can be important to your continued success. Luckily, there are a variety of coverages to choose from when it comes to protecting your business. coverages to choose from when it comes to protecting your business.
Part of your business planning for 2021 should include an annual business insurance review. Your business changes, and so do your exposures. After you review some of these items, call our office, and we will be happy to discuss these and more with you. It’s never been more important to partner with a broker that specializes in your business, understanding your unique exposures, with risk services capabilities and strong carrier relationships. Why Complete a Business Insurance Review?
Your exposures may have changed.
COVID-19 has created the need to evaluate everything you do.
Laws and regulations may have created new liabilities.
Your policy may have had small changes that require consideration and adjustment.
You may have too much coverage or to little coverage.
Do you have remote work policies and procedures?
Make sure you have a cleaning protocol in place.
Check your business interruption coverage; it may need to be adjusted and increased.
During an infectious disease outbreak, such as the current outbreak of COVID-19, small business owners must prepare for disruption in their business as well as prepare to protect their employees’ health and safety in the workplace.
Do you have the right kind of insurance to cover business equipment off-premises?
Items to Consider When Completing a Business Insurance Review
Review sales and revenue- Have your company’s annual sales increased or decreased? The more business you do, the greater the potential liability you face.
Property Values- Have you added any new equipment, purchased or leased a new building?
Did you purchase any new vehicles?
Do you sell any of your products in foreign countries?
Is your safety and loss control program up to date?
When was the last time someone reviewed your SIC codes for accuracy?
Are you serving any new industries? This might increase your liability.
Have you added any new partners? There might be a need for life insurance.
As a business owner, you can ensure that your company is protected by keeping your general liability insurance, workers’ compensation insurance, and commercial auto policies updated to reflect changes in your business.
Every one of us has certain things that keeps us up once in a while. It might be your job, the kids, illness, or other life’s problems. Our goal to make sure that protecting your family with the right insurance does not keep you up.
Here is how we help you sleep at night
We never sell you a policy. We ask questions and educate you so that the coverage you but the right fit for you.
Insurance is a complex transaction, so we work hard to make sure you understand how insurance works before you make a decision.
Our team is licensed and has years of experience that help us better educate you.
We are here to answer any questions you may have regarding your insurance decisions.
According to an Insurance Journal article, here are the top issues that keep people up.
Flood and other natural disasters
End of life issues
We can provide valuable information regarding each of these so that you can make the right decision for you and your family. We hope you noticed that we don’t just offer a quick insurance product. That is because we will only offer you an insurance solution after we fully understand your needs.
The Holidays are upon us, and if you have been to any department store, the sounds of Christmas are ringing out. According to the U.S. Fire Administration, over 400 homes are destroyed annually by causes related to Christmas tree fires. According to the U.S. Consumer Product Safety Commission hospital, emergency rooms treat over 12,900 people each year for injuries such as falls, cuts, and shocks related to holiday lights, decorations, and Christmas trees. Before you put up the lights or cut down the tree, we wanted to provide you with a few safety reminders to keep you and your family safe this holiday season.
Between 2016 and 2019, there was an annual average of four deaths and $18 million in property damage related to Christmas tree fires. During this same time period, Consumer Products Safety Council (CPSC) received reports of about 130 deaths and 260 million in property losses related to candle fires.
Keep Christmas Trees Fresh; water regularly.
Keep trees away from heat sources.
Take Christmas trees down before January.
Do not burn the trees in your fireplace.
Avoid placing breakable tree ornaments, or ones with small detachable parts, on lower branches where small children or pets can reach them.
When purchasing an artificial tree, look for the label "Fire Resistant”.
Only use lights that have been tested for safety by a recognized testing laboratory.
Never string together more lights than are recommended by the manufacturer.
Make sure extension cords are rated for the intended use.
Before using lights outdoors, check labels to be sure they have been certified for outdoor use.
Turn off all holiday lights when you go to bed or leave the house.
If you use a timer for your outdoor lights, make sure it is rated for outside use.
Outdoor lights and decorations should be plugged into circuits protected by ground fault circuit interrupters (GFCIs)
When putting up holiday decorations, always use the proper step stool or ladder to reach high places. Don’t stand on chairs, desks, or other furniture.
A straight or extension ladder should be placed one foot away from the surface it rests against for every four feet of ladder height.
Use ladders with slip-resistant feet.
Never stand on top two steps.
Enjoy the season with family and friends, and never drink and drive.
Thank you for your business throughout the year, and we wish you and yours a wonderful Holiday Season from all of us at Insley Insurance