900 N. Kings Highway, Cherry Hill, New Jersey 08034
856.667.4100 ·
215.563.0276 ·
Fax: 856.667.3652
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Business Tip |
Business insurance can get you in trouble.
Many business people purchase business insurance policies and never look at them again. In fact, many never look at them in the first place.
The insurance factors in your business change rather rapidly. Changes in your business equipment, the amount of
inventory, the number of employees, and the real estate holdings are all causes for a review of your insurance.
You should keep your insurance agent apprised of what you are doing in your business. Have lunch with your agent
at least quarterly to let him or her know what is new with the business. You pay a lot in insurance premiums; let
your agent work for you. At the very least, have an annual review of your insurance needs. Who knows, maybe you
are paying for insurance you don’t need. Your agent can be of help to you.
Do you know if your business policies are still in force if you take on a partner in your business? What needs
to be done about your policies if you incorporate your proprietorship? Does your policy cover all that you assume
it does? Is flood damage covered under your current business policy? Do you need a special policy to cover glass
breakage? Is there something unique about your business that may require a special rider to your policy? Are you
properly insured for property damage, liability coverage, health and disability, and life insurance? Ask your agent.
We deal with other business professionals on a regular basis. We will gladly assist you and your other business
advisors with your business planning. Give us a call.
