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Changes In Operations? Review Your Business Insurance

Changes In Operations? Review Your Business Insurance

With Many Businesses Changing, Reducing, or Halting Business As Usual, they should be contacting their agent for guidance.

Whether you have lowered your exposure, begun new ways of meeting your customer's needs, or suspended business activity altogether, you should be reviewing your business coverage ASAP!

Fewer Employees?

  • See if you can adjust your worker's comp policy for the interim. Less Payroll= less premium. See if you can make a mid-term change,
  • Many business policies also take into account payroll and employee counts. Call your agent.

Decrease in Income?

  • The many Commercial and Business Insurance policy rates are based on annual receipts. See if you can adjust your policy immediately.

Temporary Shutdown?

  • Ask your agent what coverages, if any, you can remove. Also, discuss the benefits and risks involved in canceling your policy. Insurance rates tend to increase significantly with a gap in coverage. Don't make decisions about discontinuing coverage until you have reviewed ramifications with a licensed agent.

New Ways of Meeting Needs?

  • There could be exclusions in your policy you should be aware of. Delivering food, goods or services is one of the most common changes in exposure I am seeing, and it is important to make your agent aware of changes.

As always, remember that insurance policies are complex contracts, and if you are doing things differently than you were before COVID-19, you need to talk it over with a licensed agent ASAP.

I'm Here to Help.

Call with any questions, concerns, or for a coverage review.