The insurance coverage needs of your company can change over time. That’s why it’s important for business owners to periodically update their policies. At White Oak Insurance LLC, we can help you with updating your insurance coverage on your company in Milford, CT.
The following are three signs that you need to update your commercial insurance policy:
You’re getting involved with new operations.
If you’ve changed your operations by manufacturing a new type of product or offering new services, your company might face new risks. This means that you need to update your coverage to protect yourself against these new risks to ensure the financial health and security of your company.
Your company has grown.
Larger companies need more commercial insurance coverage. When your company is larger, it typically means that you have more employees and that you’re dealing with more customers. A larger company also most likely has more facilities and equipment.
Reevaluate your commercial insurance policy if your company has grown significantly since you first purchased your policy.
You’ve invested in new equipment or properties.
It’s important that your commercial insurance covers your company’s assets. Assets including your equipment and your commercial facilities are valuable and require large investments of capital.
Make sure that your commercial insurance policy insures you up to the full value of your company’s equipment and real estate. You definitely need to update your policy if you’ve made large investments in these types of assets without changing your coverage amounts.
Is it time to update your commercial insurance policy?
We’re here to help. Call us at White Oak Insurance LLC for commercial insurance coverage for your business in Milford, CT.