Unforeseen events can often lead to numerous changes within a business, a factor that can further expose your venture to new risks. If you operate a business within Astoria, OR, adjusting your insurance needs to fit your new operating scope should be your next course of action. Below, Linda Dugan Insurance explains why it is crucial to review your commercial insurance annually.

Helps You Identify if You Have Adequate Coverage

If you are constantly experiencing growth in your business, you will likely need additional equipment and new employees on board. Such changes could expose you to significant safety risks, with claims associated with employee injuries and machine breakdowns resulting in uncovered expenses. Renewing your insurance helps you track emerging concerns while also allowing you to identify areas that need additional protection. 

Helps You Take Advantage of Savings

Discount opportunities can often present themselves when you least expect them to, opening up room for savings on your policy. By reviewing your commercial insurance annually, you can identify periods when such discounts are available and ways to take advantage of them. This can mean bundling policies together, helping you cut back on high costs in the long run.

Helps You Keep Up to Date With Changes in Legal Regulations

While you may have control of your internal business operations, areas such as legal regulations will often be out of your control. Changes in the legal framework could require you to implement additional policies, with failure to do so resulting in fines. Renewing your commercial policy will be crucial in helping you avoid such legal troubles, allowing you to stay on the right side of the law throughout your business operations.

Whether you need commercial insurance designed with legal compliance in mind or need to upgrade your coverage, Linda Dugan Insurance is here to help you with your policy. Call us today to help you get the appropriate coverage for your Astoria, OR business.