Your company is doing well these days. In fact, you’re thinking of expanding the operation. As you make those plans, take the time to evaluate the current amount of coverage provided by your business insurance in Peoria, AZ. Here are some reasons why this is a good idea.
One has to do with the fact that you’ve had the same policies in place for several years. Other than remitting the premiums when they’re due and allowing the automatic renewal to kick in when the time comes, you really haven’t given it any thought. Since you know more about the business now than when you started, it may be time to rethink the scope of coverage. A quick look will tell you if that’s necessary.
Another point to consider is that you may want to restructure the deductibles that come with some of the points of coverage. When you first secured the policies, money was tight. That led you to lock in higher deductibles. With the business doing so well, switching to lower deductibles may be to your advantage.
Since your current business insurance in Peoria, AZ has been in force for some time, it makes sense to compare rates as well as coverage. Now that your business has a solid credit rating and a history of no claims, you may be able to command lower rates as well as excellent benefits. You won’t know for sure until a complete review of the business insurance is conducted.
Remember that even if very little has changed in the last few years, it never hurts to take a second look at your business insurance coverage. A review now and then could save money, allow you to add coverage that’s lacking, and in general ensure your business is protected properly.
