8 Reasons to Review Your Business Insurance Coverage

Winston-Salem, NC 12/17/2014

You have invested a lot of time and money into your business and you want to help keep it safe.

Your business insurance coverage helps to ensure that all you’ve invested in your business is protected in the event of an accident, disaster, disruption or emergency.   Let's review some changes to your business that would likely cause rating or underwriting adjustments that should be addressed as soon as possible.

The Risks

Not having the appropriate amount of insurance can be an serious issue for many business owners.

Another common pitfall is not having the correct type of insurance to cover your property (uninsured). For instance, basic insurance policies have limited coverage for property that leaves the premises. This property may require mobile equipment coverage to be insured properly.

If policy information is not correct or missing, such as not listing all of your business operations and locations on your policy, it can also lead to coverage issues if you need to file a claim.

Questions to Review

Your answers to the following questions can give you an idea of whether your insurance coverage needs a tune up.

Have you recently:

  1. Created a new company or change the business entity (for instance, from a sole proprietor to a partnership, corporation or LLC?
  2. Changed (or expect to change) your operations or services offered? Did your operations expand to a new state?
  3. Purchased, leased, built or altered buildings at existing or new locations?
  4. Added construction equipment or used borrowed equipment? (This is common contractors.)
  5. Changed payroll or sales?
  6. Changed the amount or use of subcontractors?
  7. Purchased or leased vehicles?
  8. Added drivers on your insured vehicles?

If you answered yes to any of these questions, please contact us to help you evaluate your current coveage and canvas the market for the best possible rates.

We can provide you with advice to help you to secure the right coverages and the appropriate amount of insurance. Our agents can provide you with tools to help you mitigate potential losses, which goes a long way in helping your business continue to thrive despite unforeseen, and unpredictable events. Remember, as your business changes, it’s vitally important that your insurance program changes in response.

ISU Wilson Insurance - Our Knowledge is Your Best Assurance™.

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What Our Customers Say!

"I wanted to let you know what outstanding customer service I experienced today. Jennifer Wakefield contacted me because she had been notified  that I purchased a new car and had not yet reported it on my auto policy.  At the time I purchased the car, the dealership assured me they would be contacting your agency to make the switch and to verify that I had certain levels of coverage.  Imagine my dismay to learn that five weeks had gone by, and this call had not been made!  Jennifer took care of all the loose ends for me and was very kind and responsive throughout all of our communications.

I have had Home, Auto and Umbrella Liabilty coverage through your agency for four years.  Every time I contact your staff,  I am blown away by how helpful and kind everyone is, and how consistent your service remains, regardless of who I am speaking with.  You have a fantastic team of employees.   Keep up the great work!"

Meghan Claffey Cline, MHS - Nutritional Interventionist, Wake Forest University

Read what others have to say.

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