Sep 08 2025 15:00

100 Days Left: Your Essential Commercial Insurance Review

Don’t Let the Year End Without Reviewing Your Insurance

As we approach the final stretch of the year, now is the perfect time to take stock of your commercial insurance coverage. With roughly 100 days left, making sure your business is well safeguarded should be a top priority. Running a business is challenging enough without having to worry about whether you're adequately protected. Taking a moment to ensure your policies are up-to-date can set you at ease and reinforce your risk management strategy.

Are Your Property and Liability Coverages Up-to-Date?

Think back over this year: Have you expanded your premises, moved locations, or invested in significant new equipment? Each of these changes might necessitate an update to your property and liability insurance. Failing to adjust your coverage could leave new assets unprotected and underscored in liability situations. Check that your policies accommodate any recent expansions or operational changes, this small step could save you a fortune in potential claims.

Check Your Workers’ Compensation Details

If you've increased your staff, altered job roles, or adjusted payroll, it's crucial to update your workers' compensation details. Inaccurate counts and out-of-date job duties can lead to incorrect premiums and compliance issues. Ensuring your worker's compensation reflects the current state of your workforce is a simple yet essential step in risk management.

Is Your Cyber Liability Coverage Strong Enough?

With cyber threats on the rise, it's vital to evaluate how your technology systems, customer data storage, and online transactions have evolved throughout the year. Have you expanded your online presence or collected more customer data? Such changes heighten your exposure to data breaches and ransomware attacks. Adjusting your cyber liability policies accordingly will fortify your digital defenses.

Evaluate Your Coverage for Commercial Auto

Have you added new vehicles to your fleet or brought new drivers on board? Ensure that all vehicles and personnel are accurately listed on your commercial auto policy. Outdated information could result in delayed claims processing or, worse, incident exclusions. Keeping your auto coverage accurate mitigates potential operational disruptions.

Assess Your Professional Liability (E&O) Protection

Shifts in services offered, evolving client demands, or taking on more significant projects can all necessitate updates to your professional liability coverage. Ensuring your policies reflect these changes will protect your business from claims of negligence, missed deadlines, or contractual oversights. This is a vital consideration, especially for client-facing industries.

With only a few months left in the year, investing time in reviewing your insurance coverage can prevent cost-heavy gaps later. Think of it as securing your business's stability and success. If you're uncertain about any gaps or opportunities in your coverage, reaching out to an insurance professional can provide clarity and peace of mind. Don’t wait – take this step towards bolstering your business’s future today.