The premium for your business liability or Workers Compensation Policies might be able to be reduced, due to decline in sales or your payroll.
Also, if you are now delivering items,you may have a gap of coverage on your business liability policy.
Hopmeier Evans & Gage Agency is not your average insurance agent, BUT being a small business owner, I wanted ALL small business owners to receive this critical information.
Reduced your premiums with these policy changes:
These are tough times. The insurance companies understand your sales receipts and payroll may have been reduced significantly.
These are two different issues with two different solutions.
Business Liability Policy & Workers Compensation
- Many policies are based on gross sales and/or payroll. If your payroll or gross sales have been reduced by COVID-19, then reducing these ESTIMATES on your policy may lower your insurance costs. (Provided you are not at minimum estimates already)
Possible Coverage missing:
- Due to COVID-19: Bars, Taverns, Restaurants and Other Businesses, were asked to be closed the to the public partially or totally.
- Many establishments decided instead of closing, they would add takeout and delivery. Your current commercial policy may NOT have automatic coverage for delivery. Many insurance companies are willing to entertain the idea of delivery just for these extenuating circumstances. You should contact us, so we can let you know if you have the coverage or if we need to make changes to your policy.
See video, links and your accountant for more details.