An annual insurance checkup helps small businesses stay protected, save money, and adapt to changing needs. It ensures that your coverage reflects the latest changes in your operations, employees, or risks—so you’re not left vulnerable.
Key Takeaway: An annual insurance review can uncover coverage gaps, cut unnecessary costs, and ensure your business is protected as it grows and changes.
An annual insurance review is a yearly assessment of your insurance policies to make sure they still match your business’s current operations, size, and risks. It’s more than just a formality—it’s a key way to safeguard your livelihood.
BDI recommends every small business, no matter the industry, schedule this checkup with a trusted advisor.
Small businesses grow fast. You might have:
These changes can all impact what coverage you need.
According to a Hiscox survey, 75% of small businesses are underinsured. This means many companies could face major losses if disaster strikes and they’re not properly covered.
New laws or local regulations may affect what insurance you’re required to carry—especially for:
Reviewing your policy helps eliminate duplicate or outdated coverage. You might also qualify for new discounts or bundles.
Your Donegan advisor will walk you through these checkpoints:
Make sure updated values are reflected in your policy.
Increased income or employee count could mean needing higher coverage.
Confirm that these limits can realistically cover your current operations in case of disruption.
Double-check that every vehicle and driver used for business is properly insured.
Cyber threats are always evolving. Don’t overlook this vital protection.
Leases or structural changes to your business often bring new liabilities.
At Donegan Insurance, we’ve been advising small businesses since 1911. Our faith-driven approach means we treat your success like it’s our own. With personalized reviews and expert insight, we help small businesses like yours stay protected and thrive in any season.
Contact us today to schedule your annual insurance checkup and ensure you’re covered for the road ahead. Reach out to a Donegan advisor →
1. How often should a small business review its insurance coverage?
At least once a year, or anytime your business experiences a major change—like moving, expanding services, or hiring new staff.
2. What types of insurance should small businesses review annually?
Common ones include general liability, property, workers’ comp, commercial auto, cyber liability, and professional liability.
3. Can reviewing my insurance help me save money?
Yes! You may find outdated or duplicate coverage to eliminate, or discover discounts you now qualify for.