Buying appropriate commercial insurance is a critical step when starting a business. However, over time, your company in Berlin, CT, will evolve. It’s important to review your commercial policies at least once a year, but certain situations may require acquiring additional insurance, whether through higher payout limits or new policy types. Bogden Insurance Agency can help recommend the commercial lines you may need to add.

Has Your Business Changed Significantly?

Significant changes in your business operations necessitate a commercial insurance review. These changes often involve business growth, expansion, or operational shifts. While expansions or operational changes can sometimes sneak up on you, your business plan can serve as a helpful guide, alerting you to when additional coverage may be needed.

Situations that may require additional insurance coverage include:

• Increased revenue and assets
• Opening new locations
• Hiring more employees
• Acquiring new companies or merging with others
• Purchasing new equipment or technology

Pay special attention to operational changes, such as transitioning to e-commerce, managing a remote workforce, or offering new services, as these may require evaluating new types of coverage.

Your Evolving Risk Landscape

A company’s risk level is never static. Factors such as a history of accidents, operating in a high-crime area, or outdated building systems should be considered. Additionally, new risks like data breaches and cyberattacks can lead to lawsuits from clients.

When acquiring new clients or entering into contracts, some situations may require specific types of insurance. In these cases, meeting those requirements is essential for continued operations.

If you know you need additional insurance but aren’t sure where to start, our agents can help. Bogden Insurance Agency, serving customers in Berlin, CT, will evaluate your situation and provide recommendations. Contact our office today to ensure your business is fully protected.