27 Nov 2025 Business Insurance Checklist
As a small business owner preparing to welcome 2025, it’s crucial to review your insurance coverage with your independent insurance agent. By collaborating with your agent, you can ensure your business is fully protected against unforeseen risks. Use this new year insurance checklist to guide your conversation when evaluating and updating your insurance policies for 2025:
Review Coverage Needs
Begin by discussing any changes in your business operations with your independent insurance agent. New assets, revenue fluctuations or expansions into new markets can affect the level of coverage you need. Your agent can help assess these changes and adjust your policies accordingly.
Update Property Insurance
Ensure your property insurance reflects the current value of your property and equipment. Talk to your agent about any new equipment or facilities that need to be added to your policies to guarantee they are adequately protected.
Evaluate Liability Risks
Consider any new services or products you’ve introduced that might increase your liability risks. It’s essential to make sure your general liability insurance covers these changes. Your independent agent can advise you on specialized liability coverage like professional liability or cyber liability insurance if applicable.
Check Workers’ Compensation
Verify that your workers’ compensation insurance is up to date with current employee counts and job classifications. If you’ve experienced significant hires or changes in the nature of work performed, your agent can help you make necessary adjustments to your coverage.
Assess Business Interruption Insurance
Business interruption coverage is crucial if an unexpected event causes significant downtime. Review your policy limits and the estimated time your business could be out of operation. Your agent can assist you in adjusting coverage to match potential revenue losses.
Consider Commercial Auto Insurance
If your business uses vehicles, confirm with your agent that your commercial auto insurance covers all vehicles and drivers. Update this policy to include any new vehicles or changes in vehicle use to ensure full protection.
Examine Umbrella Policies
An umbrella policy provides extra coverage above standard policy limits. Review this policy with your agent to ensure it still provides adequate coverage given any changes in your risk profile.
Schedule Annual Consultations
To ensure your coverage adapts to your evolving needs, schedule regular meetings with your independent insurance agent. During these consultations, discuss any concerns and explore additional coverage options that may benefit your business.
By following this checklist and working closely with your independent insurance agent, you can enter the new year confident that your business is prepared for whatever challenges and opportunities 2025 may bring.
As the year comes to an end, Lane & Associates is committed to helping small businesses secure the right coverage. Contact your independent insurance agent today to learn more about how we can support you in safeguarding your business. Together, we can contribute to your success in the new year.