As the new year approaches, it is the perfect time to ensure you have the right amount of business insurance coverage.
As 2015 comes to an end, your to-do list may be filling up to get ready for the new year. While it can be easy to get caught up in all of the excitement of the new year, it is vital that you take the time to ensure your insurance policies are ready for 2016. Keep these new year business insurance review tips in mind to ensure you have the right amount of coverage.
- Cyber security should be one of your main priorities for the new year. Even though all businesses are at risk of a cyber attack, small businesses can be much more vulnerable since they don’t have the budget necessary to employ the right security tactics. Along with creating the right cyber security checklist, you should also find the right cyber liability insurance policy to protect your business and sensitive information.
- Find out if there are any discounts that you qualify for buy are not already taking advantage of. You may be able to save some money by bundling your coverage or pre-paying your premiums for policies that are tax-deductible.
- If you made any large purchases for your business this year, check your property insurance policy to ensure you have the right amount of coverage in case of damage or loss.
- Look over your employee health insurance plans and make sure you are providing the required amount of coverage for all of your employees under the Affordable Care Act.
- If you have any company cars or your employees use their personal vehicles for business purposes, check your commercial auto insurance policy to ensure that you have the right amount of protection.