UG Insurance Brokerage Inc Blog
The year 2020 left numerous changes that small and large businesses have to deal with. This year, as the country faces the pandemics’ economic effects, business owners might need to review their commercial insurance. Here are some of the questions to ask before renewing your policies:
Did You Have A Sufficient Policy?
Insurance policies are there to help you in times of business crisis. You need to gauge if your existing policy still covers what you expect it to cover. You might want to consider updating your policy if your business went under these changes in the past year:
Checking all these may take some time, so make sure to do these at least two months before your renewal. Updating your insurance based on these changes can help you get covered sufficiently.
Did Your Agent Meet Your Needs?
Your agent meeting your needs as a client should not be too much to ask. They are the ones in charge of being updated on new regulations and standards that may impact your business. You should be able to rely on them to answer questions and provide knowledge specific to your line of business.
You may also want to assess agent’s behaviors that define their dedication and expertise to assist. Some things you can look out for are:
After answering the first two questions, you may want to know if you can go ahead with the renewal application. Still, there might be other events in the past year that may impact your current policy. These are other relevant questions you should ask:
Answering these questions can help you navigate through changes to your existing policies.
With the changes brought by the pandemic, businesses are even more in need of reviewing their policies. Asking the right questions can help you prepare for the renewal application.
At UG Insurance Brokerage Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (718) 848-7777. Get your free quote today by CLICKING HERE.
3/23/2022 01:14:31 pm
I'm glad you talked about evaluating an insurance agent's performance and how to do it! The other day, my cousin said she'd like to find an insurance agency for her business idea. My cousin wants to start a company and would like to know how much money she'd need to spend on insurance, so I think your tips will help. Thanks for the information on working with an insurance agent that specializes in your business's field.
6/13/2022 07:34:48 am
This is a big help especially when you're just starting your own company. Working with an expert or professional insurance agent will be a good idea.
8/3/2022 08:14:30 am
My friend wants to make sure that his business is properly protected. It makes sense that he might want to get a commercial insurance plan for it. I'll make sure that he gets one that can be easily shifted to help cover his employees.
I like that you talked about how the insurance policy should still be checked to ensure that it still covers what your business has. This kind of information would be vital for those who are also just starting out with a company. They should work with a commercial insurance broker to ensure that they get all the information they can as well as the options they have when it comes to the coverage they need.
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