Checklist for Reviewing Your Business Insurance Policies

Checklist for Reviewing Your Business Insurance Policies

Here are some of the questions you need to answer as you review your business insurance.

As a business owner, it’s important to make sure that your company has the comprehensive insurance protections that it needs.  This is why it’s vital to review and update your business insurance in Queens County, New York on a regular basis.  Ready to conduct an insurance review, but sure where to start?  Then make sure you answer these essential questions to help you through your commercial insurance review process.

1) Have you moved to a new location?

Transitioning into a new space may require you to make changes to the amount of general liability and commercial property insurance that you currently have.  Depending on the location, size, and safety features of the new space, you may actually be eligible for reduced commercial insurance rates.

2) Have you hired more employees?

Anytime you experience changes in your staff, you need to update your workers compensation insurance accordingly.  Keeping your workers comp policy up to date will ensure that you are not overpaying for coverage while simultaneously ensuring that your employees have the financial protection that they are entitled to.

3) Are you offering new products or services?

If you have changed your product or service offerings, then you may need to adjust your product or professional liability coverage accordingly.  Keeping these coverages updated will ensure that you have the protection that you need in the event that your products or services result in liability issues.

4) Did you purchase new equipment?

If your business has secured more equipment, then you need to update your commercial property and equipment breakdown insurance to ensure that these new items are sufficiently covered.

Your answers to these questions should help you review and update your commercial insurance policies.  Do you have additional questions regarding your business insurance in Queens County, New York?  If so, then contact the experts at 01 Insurance.  Our experienced team is eager to assist you with all your commercial coverage needs today.