3 ways to make sure your small business is covered in 2022

3 ways to make sure your small business is covered in 2022

And just like that we have a brand new year upon us. 2022 is sure to be full of its own challenges (hopefully a few less than the last couple of years) and opportunities.

You likely have big plans for your small business this year. They may include revenue in growth, accessing new markets, streamlining operations, or even stepping back from day to day operations to spend more time with family. Whatever your 2022 plans include, you should have a catch up with your insurance adviser to ensure that your protection plans can allow for the changes your business may experience throughout the year. Exciting new changes in your business such as purchases of machinery/vehicles, changes in business activities or selling new products all come with additional risks and its important to understand and mitigate these risks.

Business Insurance 2022

Here are three things you should be doing this month to make sure you get 2022 started the right way:

Business risk assessment:

A business risk assessment involves laying out the potential risks and hazards that your business faces and the impact they may have. LARK Insurance includes a risk assessment as part of our complimentary first meeting. During this risk assessment we take an in-depth look at what risks your business may face, what options are available to mitigate those risks through both insurance and changes to procedures (because its always better to spend less on insurances than you have to). You can learn more about business risk assessments here.

Review your current insurances:

Has it been a while since you sat down and really looked at what you are covered for? Has your business changed since then? Things like changes in turnover, staff and business activities can have a big impact on your policy and if your insurer doesn’t know about changes like this it can mean major gaps in cover for your business. Its important to sit down to review these things at least once a year with your insurance adviser. LARK Insurance can do an insurance review with you free of charge. This will help you have the peace of mind that your insurances are right for you and your business.

Keep your insurance broker up to date:

You should keep your broker up to date with the changes that are occurring in your business. They can then make the necessary changes to your insurance program to keep your business running if an insurable event was to occur. Keeping your insurance broker up to date also means that you have someone to bounce ideas off around how to best self insure where possible.

Get in touch with us to kick your 2022 off the right way. We offer complimentary meetings where we can cover off all of the points above and ensure that you have the right business insurance in place for what you’re doing.

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