8 Insurance Coverage Areas to Review Annually

Author: Megan Date: December 03, 2008

A once-a-year checkup can be beneficial to your bottom line

Annually review your insurance coverage. Your benefits insurance for your employees and the insurance specific to your business should be examined separately, but many of the same questions apply including costs, coverages, benefits, etc.

A good place to start might be a meeting with your current agent. This would be a great opportunity to review your coverage and ask them to recommend any changes that might be beneficial to your business. You might also consider talking to a second broker for a proposal to make comparisons and see if a totally different approach might best benefit you and your business.

Here are a few specific areas to look at as you conduct your year-end insurance checkup:

The four fundamentals:

  • property/casualty
  • general liability
  • workers' compensation
  • auto


Others to review regularly:

  • business interruption
  • key person
  • life and disability
  • healthcare


The thought of taking time out of running your small business to review all aspects of your insurance might be daunting, but it doesn't all have to be done in one sitting. Split it up by reviewing just a few specific policies at different times throughout the year. Just be sure to take the time and do it.

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