For many businesses, as the seasons change, so do some of their operating procedures. Make sure you're also reevaluating and making any necessary changes to your commercial insurance with these changes; especially when it comes to summer. Whether it's an increase in your employees or a hike in crime, evaluating some of the changes that may come along with summer can help you better ensure your company is properly insured.
Depending on your business, your traffic may increase during the summer. Whether you help fill your employee needs with seasonal workers or interns, don't forget to also research your policy with these changes. For example, some commercial plans have restrictions concerning the number of employees covered, such as 50.
Even if your new hires take you to 55, you might not be covered. Additionally, if you are hiring interns that are under the age of 18, this may also introduce new coverage needs that you need to have in place first.
Are you thinking of offering services this summer that you haven't in the past? If the answer is yes, it's important to reevaluate your insurance needs. For example, consider a childcare center that has decided to utilize the extra space in the rear of the building for a water play area.
Even though this area isn't a pool, it still comes with risks. For instance, if there are areas of pooling water there is still a risk for drowning and an increased risk for a child slipping and falling. Even with this small addition, liability coverage may need to be increased.
It's hard to determine if it's because of the longer days, increased temperatures or boredom, but during the summer crime often spikes in many areas. Unfortunately, commercial break-ins often fall within this category. Whenever your business is at an increased risk for burglary, this is always an excellent time to ensure you have proper coverage and to make any upgrades before an unfortunate event happens.
If you overlook this risk, get burglarized and don't have the necessary coverage, you could be left to pay many of the replacement and repair costs on your own.
Once you have identified any areas in which you need to change or upgrade coverage, make sure you're reaching out to an insurance professional like Austin Insurance Agency. Making these changes in a timely manner is the best way to ensure you're protected.