For many business owners, the start of the year means setting goals and resolutions to improve things in 2024. As you strategize ways to grow revenue, reach new customers, or streamline operations this year, don’t forget to show your business some love by evaluating your commercial insurance coverage. After all – protecting your livelihood should be a priority resolution!
We realize assessing risks and translating insurance terminology takes time away from doing what you do best: delighting customers. That’s why partnering with Demont Insurance helps provide peace of mind knowing an advisor protects what you’ve worked hard to build. Our team takes time understanding your unique assets and guidance identifying potential blindspots.
Rather than glossing over important but dull documentation, make a new year’s resolution to get clear on precisely how you’d recover if the unthinkable happened. We’re here to simplify the process while securing tailored safeguards so you can focus on daily priorities.
Review Property Protections
For many business owners, your building, furnishings and inventory represent significant financial investments finally coming to fruition. Yet a surprising number of entrepreneurs fail to fully grasp terms or overlook key exposures when initially signing property insurance paperwork.
Start the year off right by scheduling a review of your commercial property coverage with our team at Demont Insurance. We’ll clarify important subtleties within your existing documents - making sure you avoid surprises by comprehending exclusions and limitations. Our advisors also identify potential gaps for assets not fully protected.
For example, many owners discover they underestimated replacement values for specialized equipment only after disaster strikes. We counsel documenting all possessions to accurately reflect current market prices for similar items. This prevents unexpected out-of-pocket costs down the road.
We help identify appropriate amounts of business income or extra expense coverage to bridge the gap getting back up and running if damage temporarily halts operations. No more guessing if you’d be left high and dry without incoming revenue. Get clarity and peace of mind this year knowing exactly what it takes to recreate your property in a worst-case event.
Safeguarding Third Party Exposures
In addition to protecting physical spaces housing your venture, it’s equally important confirming liability risks are covered this year. Lawsuits from angry customers or injured visiting vendors often blindside unprepared business owners. Make sure third-party accidents don’t drain finances by revisiting general liability terms.
For storefronts welcoming guest foot traffic or manufacturers shipping products near and far, the exposures are real. Maybe a patron slips on a wet floor near the registers. Or perhaps a demonstration goes awry at a trade show. Even if claims seem frivolous, legal defenses rack up rapidly. Don’t lose sleep worrying over what you don’t fully protect against.
Our team regularly consults with commercial clients on worst-case scenarios to envision exposures. We outline incident response plans and align appropriate liability limits or umbrella policies. Let us handle the grunt work surveying terms this year so you can focus on visitors. An ounce of prevention truly outweighs risks in ignoring unlikely but very real threats to sustainability.
Care for Your Employees
As a business grows from humble beginnings, owners rightfully celebrate hiring additional employees as milestones. Yet this influx of personnel relying upon steady paychecks also represents potential vulnerability without proper precautions. Make worker protections a top priority resolution when planning for 2024 and beyond.
Start by reassessing worker’s compensation programs alongside Demont Insurance to guarantee appropriate protections given updated headcounts and hazard potentials. We identify common exclusions worth addressing via customized endorsements so employees recuperate without dragging down operations. Analyze sickness or disability offerings as well weighing pros and cons adding voluntary benefits.
Additionally, require vendors to provide evidence of Work Comp and General Liability limits before allowing on-premises access. And confirm hired contractors name your organization as Certificate Holder to transfer accountability back to their coverage for site incidents. We endorse scheduling routine insurance verification checkpoints to confirm adequate third-party coverage remains active. Don’t jeopardize livelihoods by overlooking policy expirations from partners.
The list continues, but navigating risks impacting people integral to achievement is too vital to shortcut. We make strengthening employer safeguards simple, allowing you to lead talent toward triumphs this upcoming year and beyond.
Custom Solutions Bringing Stability
Rather than solely reacting to worst-case scenarios, our advisors at Demont Insurance believe thoughtfully preparing for the unpredictable prevents future headaches. We celebrate designing tailored solutions providing financial defenses so you can confidently take strategic chances fueling growth.
Let us collaborate shoulder-to-shoulder converting ambitious business goals into reality during 2024. We turn bold visions into successfully guarded ventures through customized insurance alignment. Give your organization and family sustaining it the gift of stability this holiday season so you can charge ahead with peace of mind.
Call us today to start the new year off right by optimizing coverage as your company scales upward. Our locally-owned agency continually rotates risk perspectives exposing alternative options securing your interests. Together we can identify sensible improvements offering your enterprise and loved ones relying upon it a safety net, regardless of what lies ahead!
The above description(s) provide(s) a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control.