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With approximately 100 days remaining in the year, there's a pressing opportunity you shouldn’t overlook: reviewing your business insurance coverage. Running a business is no small feat, and we understand the myriad of challenges you face. But taking this step now ensures peace of mind and can solidify your business's protection.

Audit Your Commercial Auto Coverage

Verify that all vehicles and drivers are accurately listed on your policy. Outdated fleet or driver information can lead to delayed claims or even uncovered incidents. Picture this: an undisclosed driver has an accident while delivering goods—without proper coverage, the financial repercussions could be daunting.

Don’t Forget Professional Liability (E&O)

Review whether expanding services, evolving client contracts, or more significant projects necessitate updated coverage. The stakes are higher than ever—protection against negligence or missed deadlines could save your business from costly litigation.

Evaluate Cyber Liability

Take a good look at your digital infrastructure. Have you made changes to systems, storage, or online transactions this year? Threats like data breaches and ransomware are real, and with increased online exposure, cyber liability insurance becomes crucial to shield your business from potential cyberattacks.

Review Property and Liability Coverage

Has your business expanded, moved location, or acquired new equipment? These changes may need immediate policy updates. Adding square footage or ramping up operations could mean you need increased liability limits to keep everything adequately protected.

Update Workers’ Compensation

Check on staffing changes, payroll updates, or role restructuring that occurred over the year. Having outdated job duties or an inaccurate employee count can lead to compliance issues and incorrect premium calculations—something no business wants to encounter unexpectedly.

Remember, investing a bit of time now can help avoid costly coverage gaps later. Consider this a vital investment in your business's stability and security as the year approaches its end. If you're uncertain about any potential gaps or obligations, reach out to an insurance professional. They can provide the guidance you need to protect your assets effectively.