This Is The New Year’s Resolution Your Business Insurance Policy Needs

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This Is The New Year’s Resolution Your Business Insurance Policy Needs

By Zuma Insurance Services | December 21, 2017

This Is The New Year's Resolution Your Business Insurance Policy Needs


New Year’s Day is just around the corner, and it’s time to make your resolutions. Although you may think New Year’s resolutions are only for individuals, businesses can benefit from this practice too. As you think about your business’s upcoming year, here are some of the insurance-related business new year resolutions you should consider.

1. Invest in business insurance if you don’t already have it.

Whether you operate a small sole proprietorship or an expansive business with hundreds of employees, having appropriate insurance coverage is essential. If you don’t already have the insurance coverage you need it. The New Year is the perfect time to contact a qualified agent at Zuma Insurance and discuss your needs. Depending on the specifics of your business, you may need:

  • General liability insurance
  • Professional liability insurance
  • Property insurance
  • Business vehicle insurance
  • Workers’ compensation insurance
  • Products liability insurance
  • Business interruption insurance

One of the experienced agents at Zuma Insurance can help you determine which of these policies are beneficial for your company. Most companies need more than one type of business insurance policy to protect against all possible risks. However, you may be able to save money on premiums by purchasing business insurance packages.

This Is The New Year's Resolution Your Business Insurance Policy Needs

2. Make sure your business insurance policy coverage is appropriate.

If you already have business insurance coverage, use the new year as an opportunity to review this coverage and decide whether it is meeting your needs adequately. Be sure to consider each policy you have separately. This is also a good time to review claims procedures and update contact information so you will have all of the resources you need if something happens and you need to file a claim. To ensure that you make the right decisions and that all the information you have is correct, consult your insurance agent for guidance throughout this process.

3. Consider adding extra coverage if your needs have changed.

If anything significant about your business has changed since you purchased your insurance policies, you may need to update your insurance policies accordingly. For example, if you have recently added a fleet of vehicles you didn’t have before, you may need to invest in a business vehicle insurance policy to protect your company and your employees from liability. Likewise, if you have started offering a new product or service, a careful review of your products liability and/or professional liability coverage may be necessary to protect your company.

4. Resolve to evaluate your business throughout the year.

Although thinking about your insurance is important at the beginning of the year, it should be on your mind during the rest of the year as well. When the new year begins, pledge to evaluate your business insurance needs at regular intervals throughout the year, such as once each quarter. You should also reevaluate your business insurance needs any time your business undergoes a significant change.

This Is The New Year's Resolution Your Business Insurance Policy Needs

Key Takeaways

  • The new year is a good time for businesses to make important resolutions that will improve their future.
  • With regard to insurance, your resolutions should include purchasing coverage if you don’t already have it, reviewing existing coverage and making any necessary changes and pledging to evaluate your business insurance needs at regular intervals throughout the year.
  • An experienced insurance agent can help you handle all of your insurance needs and make sure your business is covered.

If you are ready to act on your business insurance resolutions for the new year, the qualified agents at Zuma Insurance are here to help. Please contact us today to discuss your needs in detail.