Prepare Your Business for 2024 – A Commercial Insurance Checklist

After the holidays are over, companies must pull together paperwork to close out the year and get ready for the new one. Most often, this is done through the accounting departments when they review profit and losses for the year and box up statements and place them in storage while preparing for January 1^st. One area that may not be considered is one of the most important. Business owners understand that commercial insurance in Mississippi is the best way to protect their enterprise. Yet insurance coverage is not a set-it-and-forget-it venture. Proactive companies know that an annual insurance review is vital to continued protection. The end of the year is an excellent opportunity to prepare your business for the coming year.

Ready to Welcome 2024? Here’s What You Need

Start off 2024 right by taking the following steps to shore up your commercial insurance in Mississippi:

1. Schedule a meeting with your preferred insurance broker. Speaking with your trusted agent will help determine if you need to increase coverage in some areas, add in other areas, or possibly decrease some coverage. They have insight into your industry and can review your existing policies to look for potential gaps and ways to help you save money. They can also offer suggestions that will protect you, your employees, and your company.
2. Review insurance coverage. Take some time to look over your insurance policies. Are there any areas you may need to address? Have you moved operations or added new fleet vehicles? Use these observations to formulate any questions when discussing all the options with your preferred Mississippi commercial insurance broker.
3. Consider potential new coverage options. Once your insurance agent has reviewed your policies, they will often have some suggestions for you. For example, there may be suggestions to increase protection for your property. Or they may recommend cyber insurance to give you peace of mind that a cyber-attack will not cause you to close shop. Review their suggestions and discuss the best course of action for you.
4. Conduct a risk assessment. Some of your broker’s suggestions may include practical steps you can take to lessen your risk of a claim. The end of the year is a good time to conduct a risk assessment based on their suggestions and anything that may be an OSHA violation. This may mean fixing potholes in your parking lot or correctly labeling chemical bottles in your janitorial business.
5. Update company policies to mitigate risk. You may need to update company policies based on all the information you receive. For example, you may need to change your automotive insurance policy for your delivery drivers.

Embrace 2024 with Dependable Commercial Insurance in Mississippi

Start your New Year with peace of mind when you talk with the team at Hawsey Insurance. We’ve served the state of Mississippi for years with quality policies fit for every industry. We are happy to review your existing insurance and give you options for the best coverage, including general liability, property coverage, umbrella coverage, and even cybersecurity insurance. Call us today to get started!

Call Hawsey Insurance at 601-856-7707 for a Mississippi commercial insurance quote. Feel free to contact us online or make an appointment to stop by our Madison, Jackson, and Southaven, MS offices.