Here are some pointers:
- Make a list of your questions and concerns about your current coverage and discuss each one with your agent.
- Advise your agent about any changes to the scope of your business and learn about your options for covering these risks.
- Decide on changes that meet your needs and budget.
Question My company has grown a lot over the past few years, but our coverage hasn’t. We certainly have more to lose now than ever before. What can I do to strengthen our business policy?
Richard Khasim, a Farmers Insurance® agent in Escondido, California, has this to say about improving your coverage.
Answer You know your business better than anyone else. Along with the rewards of running your own show, you have risks and responsibilities that no one understands quite like you do. If you’re thinking it’s time to update your insurance policy, you’re probably right.
Make a list of your concerns and discuss each one with your agent. You may already have as much coverage as you want for some risks, and too little or none at all for others. Your agent can help you understand where your business might be vulnerable and ways to cover these risks within your budget.
Every business is unique, so there’s no standard test for evaluating your coverage. Your best strategy is sitting down with your agent to explore your options and find solutions that work for you.
The information contained in this page is provided for general informational purposes only. Read our editorial standards for Insurance Questions and other content. We make no representations or warranties of any kind, express or implied. This does not refer to any specific insurance policy and nothing herein is intended to replace or modify any terms in your actual policy.
Farmers may also provide information on topics that are not directly about insurance policies or coverage that we believe could be helpful to you. Information in such articles is not meant as professional advice, and any reliance you place on such information is therefore strictly at your own risk.
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