skip to main content
Mobile Search - How can we help you?

When Is It Time to Re-evaluate Your Business Insurance?

Businessman with Umbrella
Fluctuations in the economy can force many business owners into auditing their expenses and spending. When looking for ways to save, one line item that is often neglected is the business' insurance policies.

If your business has gone through some change in the last year or two, it may be time for a second look at your coverage. 

Your Policy is Expiring

When your policy is due to be renewed, you should receive a quote from your insurance carrier outlining your coverage for the year ahead. It can be very easy to continue paying for coverage that you don’t need anymore. A quick review of your policies can save you hundreds, if not thousands each year.

The Structure of Your Business or its Operations Have Changed

Running a business is unpredictable. At any given time, you could have a significant change in the way your business functions—partnership are dissolved, new products are launched, staffing needs change. Transitions within your business can create circumstances that may not be covered under your current policy.

Your Business is Growing

Congratulations on increasing your business and its profits! If the size of your business has increased, it may be time to revisit your insurance coverage. Limits that were set when you first purchased your business insurance may not make sense now that you’ve grown. Make sure that all of your assets are covered so that you can carry on with business as usual with minimal risk.

Don't Forget About Personal Insurance!

Life moves fast. Every achievement—a new car or home, a change in family status—can affect your insurance coverage and costs. With HVCU Insurance Services by your side, you can make sure your policy is keeping up. A licensed agent can help determine if you still have the best coverage at the right price.

Speak to a Licensed Agent

Insurance products: Are not NCUA/NCUSIF insured | Are not obligations of HVCU | Are not guaranteed by HVCU

Related Resources

  • image of budgeting charts

    Budgeting and Forecasting for Your Business

    An annual budget and forecast can help you prepare for the inevitable ebb and flow of sales. 
  • Business Owners Looking at Growth Chart

    5 Things to Consider When Choosing a Small Business Lender

    The type of loan you select along with the rates, fees, and terms can affect your bottom line.
  • Restaurant Owners Looking at a Computer

    Why You Should Separate Your Personal and Business Finances

    Many small business owners start their endeavors with their own capital investments, but it’s important to separate personal and business finances.