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.
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 and discuss your needs. Depending on the specifics of your business, you may need:
One of the experienced agents at Zuma 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.
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.
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.
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.
If you are ready to act on your business insurance resolutions for the new year, the qualified agents at Zuma are here to help. Please contact us today to discuss your needs in detail.