100 Days Left: Your Essential Commercial Insurance Checklist

Time is Ticking: Secure Your Business Before Year-End

With about 100 days left in the year, now is the perfect time to take a deep dive into your commercial insurance coverage. Running a business is no easy task, and ensuring you are properly protected can offer peace of mind. Proactively reviewing your policies not only safeguards your operations but also serves as a smart business decision.

Your Commercial Insurance Checklist

Workers’ Compensation

Examine any staffing changes, payroll updates, or role restructuring that may have taken place. Inaccurate headcounts or outdated job responsibilities could lead to compliance issues or incorrect premium calculations. Avoid these pitfalls by ensuring your workers’ compensation policies are up to date.

Cyber Liability

Consider any changes in digital systems, customer data storage, or online transactions your business may have undergone. The threat of data breaches, ransomware, and higher online exposure looms large. Ensure your coverage is robust enough to handle these modern risks.

Professional Liability (E&O)

Evaluate whether new services, evolving client contracts, or more significant projects require updated coverage. Protect against potential negligence claims or missed deadlines that could arise from your expanding scope of operations.

Property and Liability Coverage

Reflect on any expansions, relocations, or substantial purchases your business has made. Added square footage, new equipment, or operational shifts could necessitate policy modifications or increased liability limits.

Commercial Auto

Verify that all vehicles and drivers are accurately listed in your insurance documents. Outdated fleet or driver information can result in delayed claims processing or uncovered incidents. Ensure there are no weak links in your auto coverage chain.

Invest in Stability and Security

Addressing these insurance elements now can prevent costly coverage gaps in the future. Think of this review not just as risk management but as an investment in your business’s stability and security. If you have uncertainties about any possible coverage gaps or opportunities, connect with an insurance professional today. Don’t leave these important decisions to chance — make these critical updates before the year ends.