{"id":310,"date":"2021-06-14T04:00:00","date_gmt":"2021-06-14T04:00:00","guid":{"rendered":"https:\/\/www.cisforyou.com\/blog\/?p=310"},"modified":"2021-06-05T18:58:36","modified_gmt":"2021-06-05T18:58:36","slug":"is-your-commercial-insurance-policy-up-to-date","status":"publish","type":"post","link":"https:\/\/www.coinsurancespecialist.com\/blog\/is-your-commercial-insurance-policy-up-to-date\/","title":{"rendered":"Is Your Commercial Insurance Policy Up to Date?"},"content":{"rendered":"<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">When you own a business in Wheat Ridge, CO, the day-to-day activities can overshadow critical matters like insurance. With your day filled to the brim with personal, family, and work obligations, looking at your commercial insurance policy may not be anywhere near the top of your priority list. Regrettably, this trend can land your business in hot soup. Outdated commercial insurance can force you to incur out-of-pocket expenses when disaster strikes.<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">Have you been wondering whether you should update your commercial insurance? Don&rsquo;t fret. CO Insurance Specialist shares a few ways to know when it&rsquo;s time to update your business insurance.<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">Has your mode of operation changed?<\/span><\/span><\/span><\/strong><\/span><\/span><\/p>\n<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">Have you introduced a new product? Have you moved your business online? Such changes could affect your insurance needs. For instance, if your business is now storing sensitive customer data, you need cyber insurance to protect you against malicious online activities.&nbsp;<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">If you are planning to expand your business this year, you must talk to your insurance agent to determine your insurance needs. Your commercial insurance might need additions or subtractions to ensure that you carry the right commercial insurance coverage.<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">In addition, if the below elements have changed, you need a sit-down with your insurance agent to update your commercial insurance policy.<\/span><\/span><\/span><\/span><\/span><\/p>\n<ul>\n<li><span style=\"font-size:11pt\"><span style=\"color:#0e101a\"><span style=\"font-family:Calibri,sans-serif\"><strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">Increase in the number of employees:<\/span><\/span><\/strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">&nbsp;You need to update your workers&rsquo; comp insurance with the correct number of employees. This ensures that you don&rsquo;t underpay or overpay your premiums.&nbsp;<\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span style=\"font-size:11pt\"><span style=\"color:#0e101a\"><span style=\"font-family:Calibri,sans-serif\"><strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">Improvements in your business premises:<\/span><\/span><\/strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">&nbsp;Have you added an extra storage room? Perhaps, you have added a spare office to support the increase in staff? Either way, you need to update your commercial insurance policy to capture these changes. Similarly, update your insurance with additions or disposals of assets such as computer equipment, inventories, and furniture.&nbsp;<\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span style=\"font-size:11pt\"><span style=\"color:#0e101a\"><span style=\"font-family:Calibri,sans-serif\"><strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">Neighbors:<\/span><\/span><\/strong><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\">&nbsp;Are there new tenants around your business premises? If yes, you need to update your liability coverage to cover bodily injuries or property damages you might cause to them.&nbsp;<\/span><\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size:11pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-size:12.0pt\"><span style=\"font-family:&quot;Times New Roman&quot;,serif\"><span style=\"color:#0e101a\">Would you like to update your commercial insurance in Wheat Ridge, CO, and its environs? Please contact CO Insurance Specialist for more information.<\/span><\/span><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When you own a business in Wheat Ridge, CO, the day-to-day activities can overshadow critical matters like insurance. With your day filled to the brim with personal, family, and work obligations, looking at your commercial insurance policy may not be anywhere near the top of your priority list. Regrettably, this trend can land your business [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[31,34],"class_list":["post-310","post","type-post","status-publish","format-standard","hentry","category-commercial-insurance","tag-co-insurance-specialist","tag-wheat-ridge-co"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/posts\/310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/comments?post=310"}],"version-history":[{"count":1,"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/posts\/310\/revisions"}],"predecessor-version":[{"id":311,"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/posts\/310\/revisions\/311"}],"wp:attachment":[{"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/media?parent=310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/categories?post=310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.coinsurancespecialist.com\/blog\/wp-json\/wp\/v2\/tags?post=310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}