Is Your Business Insurance Keeping Up with Your Needs?

Business Insurance in Camarillo CA

Make sure that your business is insured for growth.

As a business owner, you’re no stranger to hard work. You’ve invested a lot to get your business up and running, and now that it’s taking off, it’s the time to kick back. You’ve put in time and money in order to grow your operation to what it is today. All the more reason to make sure it’s protected with the right business insurance.

When your business grows, your insurance needs change. The original package that you put in place when you first started may not cover everything in your business today. There is nothing worse than growing your business, seeing great success, and having one incident cause financial crisis by being underinsured, or, worse, having no coverage at all.

While you should be reviewing your business insurance policy annually, here’s when you also need to go back to the drawing board to check you’re covered!

Launching a New Product or Service
Developing new offerings may affect the type and amount of coverage that your company needs. You may need more liability insurance if you open a retail location, begin allowing employees to work off-site, or add contractors to your staff. If you grow your staff or the amount of data your company manages, you’ll need additional protection for property damage, theft, and data breaches!

Buying Commercial Property
Moving from a leased space to a company-owned facility may change the amount or type of property insurance your company needs. You’ll be responsible for signage, roofing, and contents of the building, as well as the increased amount of inventory and furniture in the larger space.

Changing Your Company Vehicles
Adding vehicles or expanding the way that they are used can affect your insurance needs. If more employees are using company cars and trucks, or if they’re driving more miles, your company’s risk increases. You may decide to increase your liability limits as well as ensuring that your employee drivers are fully protected.

The rewards of growing a business are why you do it. Don’t risk it all by not evaluating your risk exposure along the way. Be sure to safeguard your business by contacting the professionals at Chambers & Company Insurance Brokers, serving you with reliable business insurance!

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