Growth is an exciting achievement for any business owner, but it's essential to make sure your insurance coverage is growing along with your business. As you expand your office space or restaurant kitchen, acquire new equipment or vehicles, or hire more employees, your Business Insurance should be adjusted to reflect these changes.

In today's Aegis blog post, discover what kinds of insurance updates should be made when your business experiences sustained growth. Learn what kinds of insurance changes should be made, and how Aegis Insurance & Financial Services can help you get the updated coverage you need.

New Equipment, Furniture, or Technology

Growth usually means more gear such as POS systems, sound equipment, outdoor heaters, furniture, or kitchen upgrades.

Make sure all of it is included in your Commercial Property policy. If it's not listed or valued correctly, you not be able to fully repair or replace everything lost or damaged after a fire, storm, or theft.

Higher Foot Traffic

Having more customers is great for business, but it also increases the chance of slip-and-falls, crowded walkways, and other customer-injury claims.

This is a good time to revisit your General Liability limits. If your space and traffic have grown, your liability protection should grow with it.

Expanding Business Services

Is your restaurant now offering catering? Does your retail shop now provide delivery? Are you renting your bar for private events? Each of these new services comes with its own set of risks.

A quick review with your insurance provider can help you decide if you need additional coverage or endorsements so you're fully protected.

Expansion Means Greater Liability Risks

When your business moves up into a larger revenue bracket or expands into multiple locations, liability claims can get more expensive.

That's where Excess Liability (Umbrella) coverage comes in. It gives you extra protection when a liability claim exceeds the limits of your standard insurance policy.

Insurance Always Matters

Scaling your business is exciting, but it also raises the stakes. Updating your Commercial Insurance along the way keeps you from being blindsided later.

It's much easier to tweak your policies as you grow than to discover a hole in your coverage after a claim. If you're not sure what updates you need, the business insurance experts at Aegis Insurance & Financial Services can walk you through it.

Call Aegis Insurance & Financial Services at 713-850-7622 to go over your growing business and make sure your coverage is keeping up.