As your business grows, its business insurance needs to grow with it!
After a season of grinding hard work, your business is starting to take off. Congratulations! Seeing your business succeed is beyond gratifying, and this is just the beginning! But as you grow, make sure you protect that success. Your business insurance can do just that, provided you scale your coverage with your growth.
To make sure your business insurance hasn’t fallen behind as your business grows, ask these key questions.
Have I added any new products or services?
With new offerings come new exposures. Talk to your agent about your liability coverage. You may need to raise your policy limits or put other types of liability insurance (e.g. errors & omissions coverage, product liability coverage) in place to properly protect your business.
Have I hired any new employees?
Your larger team needs more coverage. First, make sure you keep your workers’ compensation insurance updated to protect every individual on staff – and comply with the law! You may also want to consider added protection for your business in the form of employment practice liability insurance. This policy can defend you if you’re sued for employment-related claims like harassment, discrimination, or wrongful termination.
Have you started leveraging more technology?
In 2016, your business has a number of tech resources it can use to streamline processes and spur success. Just make sure you’ve covered yourself digitally. If you’re storing sensitive information online (e.g. in your CRM), it’s a good idea to invest in cyber liability coverage.
You shouldn’t have to specialize in your business and insurance. Get an ally who can help you appraise the insurance needs of your company and meet them with the right policies by contacting Nahai Insurance Services. We have a wealth of business insurance offerings and can hand-pick the proper policies to safeguard your business in its current success and future growth.