When Should Small Business Owners Switch Insurance Companies?

Managing a small business comes with endless challenges—and great rewards. One of the main issues is keeping your overhead as low as possible. The cost of your business insurance should be reviewed yearly—savings could be possible. If you’ve been with the same insurance provider for years, you might assume you’re getting the best deal—but are you? Switching insurance companies can improve coverage, lower costs, and improve customer service. Here’s when and why you should consider changing, especially to an independent agency.

Signs It’s Time to Switch Business Insurance Providers

Poor Claims Experience

If you’ve had trouble processing claims efficiently or received poor customer support during a claim, it may be time to move on. Delays denied claims without clear explanations, or difficulty reaching your provider are all red flags.

Difficult Customer Service

If your insurer is unresponsive or unhelpful, you shouldn’t settle. Good insurance providers offer clear communication, self-service options, and responsive agents who prioritize your needs.

Your Agent Leaves or Retires

If your trusted agent leaves, you might find that the new representative doesn’t offer the same personalized service. If the agent who understood your business was the only thing holding you to an insurance provider that otherwise lacks potential benefits and offerings, this could be a good time to reassess your options.

Increasing Premiums Without Justification

Many large insurance companies apply rate hikes, even if your business has remained low-risk. If you have signed up with one of the biggest insurance companies, they can technically afford to lose your business. A smaller, independent agency may offer more stable pricing and competitive rates.

Lack of Customization

If your business has grown or changed, but your insurance coverage hasn’t evolved, you might be underinsured or paying for unnecessary coverage. Independent agencies often provide more flexible policy options and can respond faster than larger corporations.

Your Insurer Changes Terms

Sometimes, insurance companies change their coverage offerings, exclude certain risks, or stop servicing your industry. If your provider no longer meets your needs, it’s time to explore alternatives quickly. 

You Get a Better Recommendation

If another business owner you trust raves about their insurer, it’s worth considering. First-hand experiences can provide valuable insights into a company’s service, pricing, and claims process.

Benefits of Switching to an Independent Agency

Many small business owners assume that sticking with a big-name insurance provider is the safest choice, but independent agencies often provide distinct advantages:

• Lower premiums: Independent agencies typically have lower operating costs, allowing them to pass savings on to their customers.

• Personalized service: Unlike large insurers, independent agents take the time to understand your business and provide customized solutions.
• Greater flexibility: Smaller agencies offer more custom policy options, ensuring you only pay for what you need.
• Faster claims processing: Independent providers often have a reputation for handling claims more efficiently, with less red tape.
• Local expertise: Independent agents understand the risks and regulations affecting your region and industry.
• More stability: Unlike blanket rate increases, smaller insurers adjust pricing based on local market conditions and individual risk assessments.

How to Switch Business Insurance Companies

If you’re considering a switch, follow these steps to ensure a smooth transition:

Step One: Research New Providers

Get quotes from at least three companies and compare coverage, pricing, and customer reviews.

Step Two: Purchase New Coverage Before Cancelling the Old

Avoid any gaps in coverage by ensuring your new policy is active before ending your current one.

Step Three: Notify Your Current Provider

Start the cancellation process. Ask about any penalties, refunds, or outstanding claims.

Step Four: Obtain Proof of Insurance

Ensure you have updated insurance documentation for clients, vendors, landlords, or other necessary parties.

Step Five: Enjoy Better Coverage

Move forward with business operations, knowing you’ve researched and now have the best insurance policy to fit your needs and budget.

Considering Switching Insurance Companies? It’s Worth the Effort.

Switching business insurance providers can seem like a hassle, but it’s worth the effort if you’re paying too much, receiving poor service, or not getting the coverage you need. Independent agencies can offer better pricing, personalized service, and flexible coverage options—making them an excellent alternative to large insurers. If you recognize any warning signs mentioned above, now might be the perfect time to explore new possibilities and secure better protection for your business. Our independent insurance agency prides itself on customer care and satisfaction. Call in to speak to one of our business insurance agents and see how we can improve your coverage today.

3 Business Insurance Expenses to Write Off on Your Taxes

It’s tax season once again! As a business owner, you are likely looking for ways to maximize deductions and reduce taxable income. Fortunately, several business insurance policies qualify as tax-deductible expenses under IRS rules. If an insurance policy is both ordinary (common in your industry) and necessary (helpful for business operations), you may be able to deduct the full cost of the premium. Help protect your business while optimizing your financial strategy with these three tax write-off possibilities. 

General Liability Insurance: Protection Against Lawsuits

Every business faces risks, from customer injuries to accidental property damage. General liability insurance helps cover legal costs, medical expenses, and settlements if your business is sued. Fortunately, your premiums for this policy can be deducted as a necessary business expense.

Why Is General Liability Insurance Tax Deductible?

• It’s a fundamental cost of doing business, protecting against unforeseen claims.
• Most commercial leases and contracts require businesses to carry this coverage.
• It helps mitigate financial losses from lawsuits, preventing potential bankruptcy.

How Much of My General Liability Insurance Premium Can I Deduct?

The full cost of your premium is typically deductible, provided the policy is for business purposes only. If you use the insurance for a business that operates from home, you may need to allocate only the business portion of your premium as a deduction.

Workers’ Compensation Insurance: Protecting Your Employees

If you have employees, you’re likely required by state law to carry workers’ compensation insurance. This coverage provides financial support for employees who experience work-related injuries or illnesses. The good news? The premiums you pay for workers’ compensation insurance are tax-deductible.

Why Is Workers’ Compensation Insurance Tax Deductible?

• It’s legally required for most businesses with employees.
• It helps cover injured employees’ medical expenses, rehabilitation, and lost wages.
• It reduces financial risk in the event of workplace accidents.

How Much Can I Deduct Workers Compensation?

You can deduct the full amount of your workers’ compensation premiums, provided the policy strictly covers employees (not personal coverage for yourself). Take the example of a construction company in California that had an employee suffer a fall on-site. Because their policy was intact, workers’ compensation insurance covered the employee’s medical expenses and some of their lost wages. Not only did the business avoid a significant financial hit, but it was also able to deduct the cost of the insurance premium on its taxes, lowering its overall tax burden.

Business Interruption Insurance: Safeguarding Against Revenue Loss

Unforeseen disruptions—natural disasters, fire damage, or forced closures—can significantly impact your revenue. Business interruption insurance helps replace lost income during these events, ensuring financial stability. The IRS considers this coverage an essential business expense, making the premiums deductible.

Why Is Business Interruption Insurance Tax Deductible?

• It compensates for lost income if your business cannot operate due to covered events.
• It covers rent, payroll, and operating expenses during forced closures.
• Many businesses rely on this coverage to stay afloat after disasters.

How Much of My Business Interruption Insurance Can I Deduct?

The entire premium for business interruption insurance is typically deductible, provided it is solely for business use. Take the example of one insurance client in Florida who was forced to shut down for several weeks due to hurricane damage. Business interruption insurance covered lost income, rent, and payroll costs, allowing the restaurant to recover. By deducting the premium cost, the business further minimized its tax liability. This brings a double benefit when it comes to recovering from unforeseen costs. 

Maximizing Your Tax Deductions with Business Insurance

Writing off business insurance premiums on your taxes is a smart way to reduce taxable income while ensuring financial protection. When filing your taxes, consider working with a tax professional to ensure you take full advantage of all eligible deductions. By investing in the right insurance policies, you’re not only protecting your business from risk but also making a financially responsible decision that benefits you during tax season. Contact one of our business insurance agents to review or expand your coverage. We are also available to answer any questions regarding your policy if you believe it covers personal and business risks. 

A Guide to LLC Insurance for Small Businesses

Many small business owners choose to operate as limited liability companies (LLCs) for the liability protection they offer. While registering as an LLC can shield personal assets from business liabilities, it will not eliminate all risks. LLC insurance is essential to help your small business weather unexpected challenges, such as property damage, lawsuits, and other unforeseen events. 

Why Do LLCs Need Business Insurance?

While LLC status separates personal and business liabilities, there are limits to the protection it provides. For example, if a client or customer slips and falls on your premises and sues for damages, your business assets could be at risk. Insurance fills the gaps where LLC protection ends. It allows your business to recover from lawsuits, property damage, and other liabilities without draining its resources. Having insurance also serves as a statement to your clients and partners that yours is a credible and responsible business. 

What Types of Insurance Should LLCs Consider?

LLC insurance needs can vary depending on size, operations, and industry. The following are some of the most common types of policies to consider:

• General liability Insurance: This coverage is the foundation of business insurance and essential for most LLCs. General liability insurance covers legal fees, medical costs, and settlements if someone claims your business caused property damage or bodily injury. 
• Workers’ compensation insurance: Most states require employers to carry workers’ compensation insurance. It covers medical expenses and partially compensates for lost wages when an employee suffers a work-related illness or injury. Workers’ comp also helps protect business owners from the financial consequences of workplace injuries. 
• Professional liability insurance: Also known as errors and omissions (E&O) insurance, this coverage is designed for businesses providing professional services. It can help protect an LLC against claims of negligence, mistakes, or failure to deliver as promised. For example, if a client accuses a consulting firm of providing faulty advice that led to financial loss, professional liability insurance could help protect the company.
• Commercial property insurance: This coverage may be wise if your LLC rents or owns property. It helps protect physical assets, such as buildings, inventory, furniture, and equipment, against risks such as fire, vandalism, or theft. Even a home-based business can cover business equipment that your homeowners’ policy will not.
• Cyber liability insurance: This coverage is essential for LLCs handling sensitive customer data or operating digitally. It protects against the costs of data breaches, hacking, and other cyber threats. With cybercrime on the rise, cyber liability insurance can help safeguard your reputation and financial stability.
• Business interruption insurance: Natural disasters and other unexpected occurrences can temporarily halt operations and lead to lost revenue. Business interruption insurance can compensate your LLC for income lost during such periods caused by covered events.

How Much LLC Insurance Do You Need?

When it comes to LLC insurance, one size does not fit all. The best approach is to tailor your coverage based on your industry, operations, and location. For example, while a tech startup may focus on E&O and cyber liability insurance, a landscaping business is more likely to prioritize general liability and equipment coverage. Our experienced agent can help you tailor an insurance plan for your LLC at the best rates available. 

5 Essential Compliance Tips for Restaurant Owners

Running a restaurant is a complex task that requires managing staff, pleasing customers, and marketing to keep customers coming in. Amid the daily hustle, compliance with regulatory requirements can slip down the priority list. Overlooking these requirements can lead to serious financial and legal consequences that can jeopardize your business. The following five essential compliance tips can help restaurant owners navigate this complex landscape:

Understand Food Safety Regulations

Food safety is crucial for every restaurant. Regulators rely on the Food Code published by the U.S. Food and Drug Administration (FDA). Violations could tarnish the reputation of your business or even lead to closure. A thorough understanding of all food safety laws, including hygiene practices, storage guidelines, and temperature controls, is crucial. 

Do not skimp on equipment such as refrigeration units and thermometers, and invest in regular training for your staff. General business liability insurance is essential to cover medical expenses, legal fees, and settlements if a customer claims to have contracted food poisoning at your restaurant. 

Stay Compliant with Wage and Hour and Employment Laws

Managing workers involves more than giving instructions and writing paychecks. You must also comply with wage and hour law and other employment law issues, ensure tips are distributed correctly, and maintain accurate records. In an industry with high employee turnover, disputes over pay are common. Noncompliance with state and federal employment laws can lead to expensive fines or lawsuits. 

Restaurant staff face unique risks daily, from slip and fall accidents to kitchen cuts or burns. Workers’ compensation insurance is required in most states. It also protects your business from financial fallout if an employee is injured.

Obtain the Right Permits and Licenses

Restaurants are heavily regulated, from food handler permits to liquor licenses. Operating without the proper documentation can lead to fines, forced closure, and legal action. Acquiring the necessary permits initially is not enough. You must also stay on top of renewals and any changes in regulations. 

Business insurance plays an essential role in shielding your restaurant from financial and reputational harm. If you serve alcohol, liquor liability insurance is a must. This coverage protects from lawsuits stemming from alcohol-related incidents, such as an accident caused by a patron after leaving your establishment. 

Protect Customer Data

In addition to employee data, many restaurants in today’s digital age collect customer data through credit card payments, online reservations, and loyalty programs. With that comes responsibility for safeguarding sensitive, personal information. Safe data storage and access procedures and compliance with Payment Card Industry (PCI) standards are essential. A data breach can damage your restaurant’s reputation and lead to significant financial losses. 

Cyber liability insurance is essential coverage for restaurants. It can help cover the costs of data breaches, including legal and notification expenses and public relations efforts. Cyber liability insurance is a wise investment in a time when one security lapse can put your business in the headlines for the wrong reasons and lead to the high costs of resolving claims. 

Be Prepared for the Unexpected

Compliance is more than simply following the rules. It also means being prepared to bounce back during natural disasters, equipment breakdowns, and other unexpected events. Business interruption insurance can replace lost income if your restaurant is temporarily closed due to a covered peril. 

Our knowledgeable agents can help you find the coverage you need to protect your business and comply with the industry’s many rules and regulations. 

Your Guide to Purchasing Small Business Insurance

Small business insurance can help independent business owners better cope with the challenges and risks inherent in their work. Several types of small business insurance policies are available—what’s right for you?

Types of Small Business Insurance Policies

All small businesses need to be insured. The types of policies available include the following:

General Liability Insurance: These policies protect against personal injury lawsuits, property damage caused by third parties, lawsuits or claims regarding false advertising, copyright infringement, and other legal claims that are costly to defend.

Commercial Property Insurance: This policy covers the cost to repair or replace lost, stolen, or damaged property that belongs to your business, such as retail inventory, office furnishings, or specialized production equipment. 

Business Owner’s Policy (BOP): A BOP combines general liability and commercial property insurance and often offers a cost-saving advantage. 

Business Interruption Insurance: Policies that protect you against unexpected business temporary closures, such as those caused by fire, flood, or another natural disaster. It can also be included as part of BOP. 

Professional Liability Insurance: This insurance best suits businesses that provide professional services. It covers lawsuits over errors, negligence, or oversight on the part of the service provider. 

Cyber Insurance: This policy type can help cover the costs of a harmful cyber-attack on your business, including ransomware and data breaches. 

Worker’s Compensation Insurance: If your employees become injured or get ill at work, worker’s compensation insurance will cover their lost wages and medical costs during their recovery.

Commercial Auto Insurance: These policies cover the legal, medical, and property damage-related expenses if your work vehicle causes an accident. 

Hired and Non-Owned Auto Insurance (HNOA): HNOA pays for accidents that involve cars that are not owned by the company, such as rental, leased, or personal vehicles used in business activities.

Why Do I Need Business Insurance?

Three reasons you need business insurance as a small business owner: 

• You and your clients are protected: If a client files a claim against your business or products, having insurance can avoid the time-consuming and costly process of fighting a lawsuit. 
• Your employees are protected: A small business insurance plan can cover job injuries and employee illnesses.
• It is a legal necessity: Depending on your industry, you must satisfy state and federal minimum business insurance requirements. 

Find Out Your Legal Requirements

Knowing what the legal insurance requirements are for your field or industry is key. Laws on insurance vary by state and industry, so check your state’s website for information. The following federally required insurance for all small businesses with employees, according to the Small Business Administration:

• Worker’s compensation
• Unemployment
• Disability insurance

Assess Your Risks

You’ll also want to consider the specific risks your business faces. For example:

• If you sell products, you will need product liability insurance to protect against defective product claims. 
• If you provide services, professional liability insurance can cover claims against alleged errors and negligence. 
• If you hold significant physical assets, commercial property insurance can protect against fire, smoke, wind, hail, water, and vandalism. 

Plan for Expansion

Think about the future and how to ensure your business can steadily grow. Starting with the bare minimum leaves no room for expansion. Always aim for the maximum coverage possible. Greater coverage allows for increased security and continued prosperity. 

Discuss Your Coverage Needs with an Agent

Once you know your risks, discuss your needs with one of our qualified small business insurance agents. We can help you fine-tune your policy to ensure the right fit for your budget and business activities. 

Choose the Best Insurance for Your Small Business

Determining the insurance to put in place to comply with the legal requirements and provide security for your company can be challenging. Luckily, you don’t have to do it alone. One of our small business insurance agents can work with you to develop a tailored policy that addresses your unique needs. Call today to schedule a consultation. 

What is a Loss Control Program, And Do I Need One?

A loss control program is a coordinated set of actions or practices that help locate and address potential risks for a business. The program could evaluate losses from employee theft, financial difficulties from claims or lawsuits, and other risks. A tailored loss control program reduces risk and mitigates the extent of economic losses when unexpected incidents occur. 

How Do I Know If I Need a Loss Control Program?

Most businesses can benefit from a loss control program. The first step is to review your business’s risks. You have risks unique to your enterprise, along with a range of standard risks. Some common potential losses that many companies share include:

• Product theft
• Damaged inventory
• Workplace injuries
• Property damage
• Online security threats
• Client claims

Developing a Plan

Set clear targets to reduce the risk of potential loss in each area. Speaking to a business insurance agent at our firm can help. We can help walk you through your business insurance options and what policies offer. Your loss control program should list the actions to take, deadlines for completion, and the individual responsible. Vague or unclear targets rarely get completed—be specific.

Most businesses find that having a safety manual for employees is a practical part of a loss prevention program. Educating your staff makes them more likely to respond to emergencies correctly and confidently.

Getting Your Plan into Action

Take the targets from your planning papers to the physical universe. Have the assigned executives complete their tasks such as:

• Employee safety manual: Have the safety manual written, printed, distributed, and read by all employees. 
• Security cameras: Get cameras installed if needed, and place clear signage about video surveillance as a deterrent. 
• Anti-theft tags: If you work in retail, implement RFID tags. 
• Inventory monitoring: Perform regular inventory reviews to ensure your products are safe from employee theft.
• First aid stations: Be prepared in case of an accident. Purchase a quality first aid kit, or several if you have larger premises. Place first aid kits in easily accessible locations. Ensure your employees are informed where first aid supplies are available should an unexpected injury accident occur.

Monitoring Your Results

Without feedback, ensuring your efforts are working is challenging. Close the loop by asking staff and customers to share their thoughts. Do they feel more secure? Do they understand what actions to take to help avoid unnecessary risks? Regular safety training ensures your employees know what to do in case of fire, an injury, or any incident requiring immediate intervention.

Improve Your Loss Control Program

A loss control program will be outdated over time. As your business expands and changes, so do its needs. Business insurance covers many aspects of your business and can act as a safety net, ensuring your business can flourish. Some insurance providers may reward company owners who have implemented a loss control program by offering lower premiums. 

Business Insurance Gives Peace of Mind

Loss control programs can go a long way to keeping your products, clients, and personnel safe from harm, but they can also protect your enterprise from unexpected financial losses. Speak with one of our business insurance agents today to have your current policy reviewed and learn if new options on the market could better serve your operation. You have worked hard to build your business; your business insurance policy safeguards against losses you can’t afford.

What You Should Know About E-commerce Business Insurance

A brick-and-mortar establishment comes with known risks, but e-commerce has specific liabilities. Some are shared with traditional stores, but others are unique to online businesses. Business insurance tailored to meet the needs of your online operations can make all the difference when you face unexpected losses. 

What is Covered in E-Commerce Business Insurance?

E-commerce business insurance policies include: 

• General liability insurance
• Commercial property insurance
• Commercial auto insurance
• Worker’s compensation insurance
• Business income insurance

What Types of Businesses Need E-Commerce Insurance:

Any merchant activity, selling services, products, or digital wares, will benefit from enrolling in an e-commerce insurance plan. 

• Online retail: Whether you are selling pajamas or personalized jewelry, interruptions in your supply chain, shipping delays, and employee injuries can cause financial setbacks that endanger your company’s survival.
• Traditional retail with an online component: If you allow store or curb-side pick-up for online orders or operate a whole range of online-only merchandise in addition to the offerings at your physical location, you face the combined liabilities of commercial property and digital ransomware or data breaches. 
• Virtual marketplace sellers: If you sell your art, crafts, or services on platforms like Etsy, eBay, Airbnb, or Fiverr as a source of income, it’s worth covering your losses. If there are any claims about your products or quality, you can resolve the issue and move on rather than facing costs that can be a killing blow. 
• Online rideshare work: You are considered an independent contractor when you drive for Uber or Lyft. This type of work does not fall under traditional e-commerce and may need a specialized plan focused on commercial auto insurance. Your auto insurance should be customized to cover any damages not covered by the rideshare company. 

What Happens If I Don’t Get E-Commerce Business Insurance?

When you experience what can happen without insurance, it becomes evident that proper coverage is a necessity, not a “nice to have.” Some examples of potential liabilities that will have you paying out of pocket include:

• Employee injuries: If your employee climbs a ladder to access items from a top shelf but falls and breaks their ankle, you could have to pay their medical bills out of pocket if you are not covered. 
• Customer lawsuit: This is particularly relevant for companies selling food, cosmetics, or medical items. If a customer claims your product made them sick, no coverage can put you in danger of a long and expensive court process. 
• Damaged inventory: If your stock is ruined by flood or fire, you may face delays, refunds, and a wave of customer complaints. E-commerce insurance can cover your losses. 
• Stolen information: Hackers could access your customer database and sell it to bad actors. This is embarrassing and can also result in significant issues with customer service. 
• Car accidents: Your delivery vehicle, which may also be your personal property or that of an employee, could experience unexpected damage on the road. Personal auto insurance will likely not cover the losses the vehicle is used for regular transport and delivery runs. 

Protect Your E-Commerce Business with the Correct Coverage

Give yourself peace of mind for the year ahead. E-commerce is an evolving field; ensure your safety net expands with your enterprise. Please meet with one of our e-commerce business insurance agents about acquiring or updating your current coverage today. 

Navigating Cyber Insurance in 2025

With the New Year comes new possibilities. If your work includes online operations, e-commerce, or website hosting, it also comes with new dangers. Hackers have new skills, and the race to keep online security ahead of the ever-changing curve is of great concern. In 2025, cyber insurance will be a necessity like never before.

Cyber Insurance: What It Is and Why It Matters

Cyber insurance is a type of business insurance that protects against financial losses associated with cyberattacks and risks related to the company’s online activities. Due to the frequency and severity of online criminal activity, such as breaches and ransomware, cyber insurance has become crucial for any business with an online presence. While cyber insurance used to be a simple sign-up process, insurance companies are becoming increasingly wary of losses and have imposed new requirements for those applying for coverage. 

Top Tips for Purchasing Cyber Insurance

Understand Your Risks

Before you talk to one of our cyber insurance agents, thoroughly review your organization’s operations to identify any potential risks. Your evaluation should include the protections for online sales, customer databases, confidential data storage, or patent-protected applications. 

Study Your Options

Shop for the best policy. Have your agent help you review all the options that will best protect your enterprise if you have a breach.

Don’t Be Afraid to Ask Questions

Ask as many questions as needed to know which policy is best for you. Taking the time to sift through all the details can make a difference.

What Does My Business Need to Qualify for Cyber Insurance?

Ten years ago, applying for cyber insurance was as easy as filling in your company’s name, number of employees, revenue, and whether or not you had a website. Today, you have more requirements, and you must show that your operation has fairly robust online security to qualify for cyber insurance as part of your business insurance coverage. 

• Password protection: Multi-factor authentication (MFA) makes accessing sensitive data more difficult by requiring users to prove their identity using multiple factors. 
• Offline data backups: To recover from data being stolen or wiped out, backups that are “air-gapped” and not physically connected to the computer network are necessary.
• Proactive vulnerability management: Online safety requires constant vigilance. Vulnerability management consists of conducting regular scans of your digital presence to locate and mitigate potential weaknesses that bad actors could exploit. 
• Real-time detection and response: Having an assigned cyber security employee or contractor responsible for responding to emerging cyber threats in real time helps to mitigate potential risks.
• Security awareness training: Hackers can use the vulnerabilities of human staff to trick unwitting employees into giving away passwords or confirming confidential information. A vigorous security awareness training program keeps staff on their toes and vigilant against threats. 

Protect Your Business with Cyber Insurance Coverage

Cyber insurance can help you recover quickly from losses sustained by downtime, business interruption, data restoration, and the reputational damage caused by a data breach. Our agents are available and ready to assist you with any questions or concerns you may have regarding a new cyber policy or your eligibility for coverage. 

Preparing for Change in the New Year

A new year is upon us when we traditionally make resolutions about our health and plans—but what about resolutions for your business? The New Year is an ideal time to embrace growth opportunities and consider canceling programs that failed to produce results in 2024.

Look at Where You Are At

As the year comes to a close, it is time to take stock of how you and your team did. Review all company financial reports, including the following:

• Year-over-year profit and loss
• Year-end balance sheet
• Cash flow analysis

Don’t just stop at the financial outlook. Look over the other key metrics. The review could include the amount of merchandise sold, the number of people reached with your message or brand, customer satisfaction and reviews, and other statistical data affecting the bottom line. A full review of this data can inspire new ideas for business growth in 2025.

Envision Realistic Growth Goals

Next step: the future. Discuss your business goals as a business owner or with your executive team. Whether you have a one-year or five-year plan, set realistic goals for production, sales, new customers, and other key metrics. Name precise numbers and quantities that must be attainable and reflect your vision for the ideal scene for your enterprise. Along with all your planning, the end of the year is the best time to review your business insurance policy. As your enterprise grows, your business insurance coverage may need to be updated.

Evaluate Existing Programs 

After a full review of the year’s statistics, it is time to evaluate the programs you have running, including your marketing campaigns and the products or services that have been most successful. Do a comprehensive evaluation of customer reviews and create a plan to increase goodwill and brand recognition. 

Throw Out the Bad, Reinforce the Good

Once you’ve determined what is working and what isn’t, decide the changes to initiate for the new year. It would be best to consider phasing out certain less popular or profitable products and investing in more promising products or services. Set achievable goals to quantify the “how” and “when.” For programs for the new year, your targets should be: 

• Specific: Be exact and name the precise quantity of sales, products, impressions, etc., you plan to achieve to attain the growth you envision for your company.
• Measurable: Make sure the goal you set can be measured and tracked. “Lots of sales” is not the same as “Maintain an average of $50,000 in XYZ product sales each month, achieving $600,000 total annual sales by year-end.”
• Attainable: Make your goal challenging but not impossible. Be honest with yourself and consider the actual resources you have. 
• Relevant: After your analysis, you should know what matters to your business and what doesn’t. Don’t waste time and effort setting and achieving goals that will not get you closer to the ideal you have envisioned for your company. 
• Time-bound: Set a deadline. And don’t make everything “by the end of the year,” either. Set realistic time targets so progress towards your goals happens regularly.

Plan A Smooth Transition

Now that you know where you stand and where you are going, ensure you issue a program to the relevant employees so they are onboard to move your enterprise forward. The plan could be as simple as a few steps for new staff to be hired and trained to expand your sales force or a complex plan for multi-location businesses. 

Stay Safe While You Make Changes With the Right Business Insurance

The coming of the new year is a time to refresh and improve, not just as individuals, but to make resolutions regarding your company goals. As you plan for a new year of growth and change, business insurance will protect the progress you’ve made and cushion your business from financial losses from unexpected events that could arise. 

If you need guidance on finding the most affordable business policies for your line of work, one of our helpful agents can discuss your options. 

Winter Weather Preparedness for Small Businesses

Winter weather can take a heavy toll on small businesses. The risks posed by storms, slippery walkways, and power outages can lead to financial losses. Taking steps to prepare your company and employees for the winter season can minimize business disruptions and claims filed for slip-and-fall accidents. 

The best overall advice is to be proactive. Evaluate any risks on the property to determine where problems could arise and resolve any issues. While you know your business, here are some common areas for a winter weather preparedness plan.

Employee Safety and Communications

Create a Winter Communications Plan

Get your team on a group text or chat so that when storms hit, you have a coordinated method of informing all personnel regarding whether your business will be operating that day, so employees are updated on changes in business operations and delivery times during storms or other inclement weather. 

Train Your Staff for Cold Weather Safety

If your work is outdoors, train staff to identify the symptoms of illness, frostbite, and hypothermia and what to do when these symptoms are observed. Training should include preventing these emergencies by dressing appropriately for the weather and taking regular warming breaks. 

Stock a Storm Emergency Kit

Prepare for the possibility that staff and customers could have to shelter on-site in the case of a severe weather event. A standard emergency kit should include the following items:

• First-aid supplies
• Blankets
• Non-perishable snacks
• Bottled water
• Flashlights and extra batteries
• Phone chargers or power banks
• Battery-powered radio

Public Information and Wellness

Keep Customers Informed

The storm season comes with unpredictable hours of operation. Ensure you have a communications plan to let your loyal customer base know what to expect in extreme weather. You can use social media or email blasts to keep employees, customers, and clients informed. Publicizing any storm-related closure times increases trust with customers and employees.

Prevent Snow and Ice Hazards

Keep your business safe and accessible by regularly removing snow and ice from walkways and entrances to your property. Salt can be put on sidewalks before a storm; snow melts faster and is easier to remove. After a storm, sand can help increase safety in icy areas. For rainy days, place anti-slip mats at entrances for added protection.

Property Protections

Prepare for Outages and Delays

When the wind and snow kick up, power outages and shipping delays are to be expected. If you are prepared, you can make the best of the situation. Invest in a generator if your business relies on power for the refrigeration of food items or medicine. Backup generators must be correctly installed at a safe distance from vents to avoid the risk of carbon monoxide poisoning.

Increase Your Efficiency

Seal all windows and doors against cold drafts to lower the cost of heating and energy. Replace your air filters and service your HVAC units. A programmable thermostat can save energy when your location is closed. 

Conduct Post-Storm Assessments

Always check your property for damage after a major storm. Business insurance can cover property damage or losses that affect your ability to serve your clients. Make a list of cracks, leaks, or damaged equipment or inventory. If you have a business insurance policy, keep all receipts so your provider can reimburse you. 

Protect Your Business with Insurance Coverage

We do our best to prepare for dangerous rain, snow, hail, or wind storms. Even with the best plans, disasters happen, and that’s when your business insurance policy can prove to be one of your smartest investments. It’s essential to customize your business insurance policy to match your enterprise. Call our agents today to discuss insurance options that help protect your business against the risks associated with dangerous winter weather.