2021 Business Insurance Planning
Part of your business planning for 2021 should include an annual business insurance review. Your business changes, and so do your exposures. After you review some of these items, call our office, and we will be happy to discuss these and more with you. I
- Do you have remote work policies and procedures?
- Make sure you have a cleaning protocol in place.
- Check your business interruption coverage; it may need to be adjusted and increased.
- Make sure your business follows OSHA guidelines.
- Do you have the right kind of insurance to cover business equipment off-premises?
Items to Consider When Completing a Business Insurance Review
- Review sales and revenue- Have your company’s annual sales increased or decreased? The more business you do, the greater the potential liability you face.
- Property Values- Have you added any new equipment, purchased or leased a new building?
- Did you purchase any new vehicles?
- Is your safety and loss control program up to date?
- When was the last time someone reviewed your SIC codes for accuracy?
Have you added any new partners? There might be a need for life insurance. As a business owner, you can ensure that your company is protected by keeping your general liability insurance, workers’ compensation insurance, and commercial auto policies updated to reflect changes in your business.
Oakwood Insurance operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals. Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.