Regularly checking for changes in your business can help make sure you have the protection you need!  Take a look through the Business Audit Checklist below and see if there are changes needed for your coverage.  If you need any help, contact our team today at Bieritz Insurance at 607-547-2951.

📋 Small Business Insurance Audit Checklist

Is your Otsego County business fully protected? Use this quick audit to find out.

1. Evaluate Your Physical Assets

• [ ] Property Value: Has the cost of construction or materials increased? Ensure your Commercial Property limits cover the cost to rebuild, not just the market value.
• [ ] New Equipment: Did you purchase new computers, machinery, or furniture this year? Update your inventory to ensure these are included.

2. Review Your Liability Exposure

• [ ] General Liability: Has your business model changed? (e.g., offering delivery, hosting events, or selling new products).
• [ ] Professional Liability (E&O): If you provide expert advice or services, is your coverage up to date with your current contract sizes?
• [ ] Cyber Liability: Do you store customer emails, credit card info, or medical records? Standard policies rarely cover data breaches.

3. Assess Your Workforce

• [ ] Workers’ Comp: Have you hired new staff (full-time, part-time, or seasonal)? NYS requirements are strict; ensure every head is counted.
• [ ] Employment Practices (EPLI): Are you protected against claims of wrongful termination or discrimination?

4. Check for “Invisible” Risks

• [ ] Business Interruption: If a fire or storm closed your doors for a month, could you still pay rent and key employees?
• [ ] Hired/Non-Owned Auto: Do employees ever use their personal vehicles for bank runs, mail drops, or client visits?

5. Look for Savings

• [ ] Bundling: Is your property and liability combined into a Business Owner’s Policy (BOP) for maximum savings?
• [ ] Safety Upgrades: Have you installed new security cameras, fire alarms, or sprinklers? These can often lead to premium discounts.

Pro Tip: Don’t wait for a claim to find out you’re underinsured. A 15-minute review with a local agent can save your business from a permanent closure.

Contact our team at Bieritz Insurance today at 607-547-2951.