Why it’s Important to Annually Update your Business Insurance Policy

When you get a new insurance policy for your business, you must update it every year.  Both you and your business are growing and changing each year.  So your business insurance policy must change along with it.  Our agents of AWARD Insurance Group serving the Dalton, GA area work with small business owners in revising their policies each year.  We strive to make things easy in finding all the policies your business needs.

Expanding or Downsizing your Business

The first common reason you must annually updating your policy is the growth or downsizing of your business.  Each year, your business is going to experience some changes, whether it’s for the good or the bad.  You must alert your insurer to these changes.  Otherwise, that new location you opened, along with any assets stored there, will not be covered.

Development of New Products

The more your company grows, the more your product portfolio will do the same.  If your business manufactures consumer products, you must have adequate coverage for all of them.  This helps cover them in the event of a defect.  In some cases, your insurer may require you to individually insure each product.

Being Prepared for Emergencies

You have to prepare your business for the unexpected.  So if you don’t have it already, you must update your policy to cover emergencies.  The state of Georgia is known for its history of hurricanes and tornadoes.  You must make sure your business is prepared in the event of this.

Contact us for your Business Insurance Needs

For a thorough updating of your policy, you need an insurer experienced with working with businesses.  If you own a business in the Dalton, GA area, give us a call to schedule an appointment today.