Although it indicates that summer is about to end, Labor Day is a legal holiday which celebrates the economic and social success of American workers. Without these workers, there would be no long history of dedicated and diligent managers, staff, employees, businessmen and entrepreneurs in US.
Prior to the celebration of the long weekend, now is the right time to take a look at the policies of your business insurance. Make sure that they remain active to meet your needs and the needs of your workers.
Knowing your growing needs
It’s easy to get business insurance, pay the monthly premiums and not to have a second thought. But as your business progresses, so do your needs.
Here’s the list of the types of business insurance policies and the reasons why previous coverage may no longer fit your present needs:
1. Commercial Auto Insurance. Are your employees starting to join meetings at off-site areas, like going to other company offices? Regardless of what business you have, start adding vehicles to be driven by employees. It’s important not to overlook commercial auto insurance because it takes care of your workers and business.
2. General Liability Insurance. At times, even a minor accident can cause a complicated lawsuit. The possible risk will tell the right level of general liability insurance needed by your business. Such level of danger can vary and will need adjustments to your products, services, employees and business size.
3. Commercial Property Insurance. This type of property insurance is vital as it covers more than just the building wherein your business is located. Buying new equipment or starting to add bigger number of inventory would require re-examining your business insurance.
4. Commercial Umbrella. As time passes by, you need to evaluate again your policies. It can be the right time to include a cheap commercial umbrella policy to further the level of your security. If risks seem to be getting higher, commercial umbrella insurance is very important.
5. Business Income Insurance. For lots of small companies, their profits increase as their business continues to grow. Therefore, it’s crucial to keep insurance policies updated to reflect your income.
6. Workers Compensation Insurance. For nearly a century now, the laws on workers compensation have been a securing factor of American workers, especially those who incurred injuries while working. This type of insurance is a sure protection to employees, helping them pay their medical costs and lost wages. You should have this appropriate coverage to secure your invaluable workers.
7. Employment Practice Liability Insurance. Arguments and disputes are among the common reasons for lawsuits. As the company grows and your workforce also grows, you should add this type of insurance also. Before allowing resumes to fill a vacant position, make sure you’re covered with a larger protection.
Talk to the experts on Business Insurance
As Labor Day comes in, spend time checking out your business insurance policies. Insurance providers have a team of professionals who specialize in answering difficult questions that concern your full protection. The needs of your business will be assessed and providers will do their job within your budget. You will get the best coverage that fits the needs of your business insurance.
To get additional information on Car and Travel Insurance in Florida, please contact us at DMG Insurance and Financial Services, Inc. (http://www.dmginsurance.com) at 543 N State Road 7, STE 106, Royal Palm Beach EL, 33411, phone 561 422 7071, Fax 561 422 7072.