When you contact Max Insurance LLC to update or renew your commercial insurance for your Des Moines, IA business, we’ll suggest a commercial insurance audit. Don’t worry, it differs completely from an IRS audit and won’t cost you anything extra to undergo.
Commercial Insurance Audits Are Free
When you undergo a commercial insurance audit with your insurance agent, you participate in an interview with the agent. We ask you questions about your business, location, processes, and procedures to determine its most important coverage types.
Many things change from the first time you purchase insurance and first start your business. Your expansion could require a different type of insurance than you already own. A change in product or services could have the same effect. Even changing your business location could affect your insurance needs.
The results of an audit could save you money in the short term and the long term. If you need to add a new type of insurance, you’ll still save money in the long term because whatever it covers, would not receive coverage under any other type of policy. Commercial insurance uses specific policies to avoid crossover. That means that with the specialty policy, you would pay some premiums along the way, but if an insured event occurred, you would have coverage for it, and insurance would pay for it.
Examples of Coverage Changes
If you moved from a building with plate glass windows to one with no windows or plastic windows, you would no longer need glass insurance. You would drop a policy.
If you started delivering pizzas from your restaurant, you would need to add commercial auto insurance to your insurance package.
If you added a consumer product to your service-based business, you would need to add errors and omissions (E&O) insurance to your package.
Conversely, if you stopped making consumer products and moved to a service-based business, you would no longer need E&O insurance, assuming a recall on existing products.
Contact Us Today
Call or email Max Insurance LLC serving Des Moines, IA, to get started on your commercial insurance audit. Let us help you protect your financial security and your business’s future.