Made These Changes to Your Business? You May Need to Change Your Commercial Insurance Coverage

Any business needs a comprehensive commercial insurance package, and if your business is undergoing some changes, it might be time to revisit your insurance coverage. Sometimes things happen that are out of your control—employment changes, new services rendered and office upgrades are just some of the common things that small business owners have to tackle. That’s why it’s so important to check with an insurance agent to make sure that you’re not leaving out any exposures.

Every business owner should make sure that they have all their bases covered. These are some business changes that may impact your insurance coverage:

Hiring Or Firing Employees

Employees come and go. It’s the name of the game. There’s contractors, full-time workers and part-time workers that will need to be kept track of—when things shift, things also have to shift with your insurance. While weaving in new employees into the mix, your insurance policy should reflect those changes as soon as possible. Things to keep track of include transactions conducted on behalf of the business or injuries suffered on the job.


If you’re relocating your office, there’s going to be a lot of chaos going on. Moving is a big deal—it means new documents, compliance initiatives and legal wrangling; it’s imperative to keep tabs on everything while doing it. Legal documents will need to be updated, including your business insurance policies. You’re going to need some time to set all of this up and get things in motion, so don’t try to rush it.

Purchasing New Equipment

Property insurance premiums matter, and purchasing new equipment would impact that. It all depends on the size and type of hardware your business is using. So any major purchasing means you need to update your agent. The smaller a business is, the more impact a purchase has on it.

Changes in Goods and Services Offered

If you add new items to your inventory or you launch a new service that could affect your commercial insurance needs, it’s time to talk to your agent. This is especially important if you have professional liability insurance or an errors and omissions (E&O) policy. An insurance agent will know exactly what kind of coverage and additional coverage is needed.

Significantly Increasing or Decreasing Revenue Levels

Every business wants their revenues to go up. But because of this, insurance policies will need some tweaking. If you’re making money, you’re going to need a better policy. Decreases in revenue can have impact as well. These are just some of the things that an insurance agent needs to know in order to get you the best coverage possible.

About David G. Sayles Insurance Services

At David G. Sayles Insurance Services, we strive to protect the investments of business owners like you. Our comprehensive policies are customized for you to provide the exact coverage you need. For more information, contact us today at (800) 439-0292.