If you have people who work for you or with you, the start of 2018 is a GREAT time to make sure your insurance is in order.
TOP SEVEN IN 2018 [Drumroll, Please.]
#7. Work Comp Coverage
Uninsured third party subcontractors can wreak havoc on your business. Get the proper coverage to protect yourself and what you’ve built.
#6. Car Rental Coverage
Whether you or your employees travel regularly or occasionally it’s critical that you understand the car rental coverage offered by rental companies and the areas that it can leave you open to risk. Supplemental policies can help mitigate that risk.
#5. Long-Term Care Coverage
Being diagnosed with early-onset dementia or a host of other disorders that keep you from adequately caring for yourself can put both your family and your business in jeopardy. This is the biggest insurance gap for those entering their late 50s and early 60s. Don’t bankrupt what you’ve worked so hard to build. Protect yourself and those you care about with long-term care coverage.
#4. Work Comp Coverage for YOU!
If you have work comp dialed in for your employees but haven’t extended coverage to yourself as the owner, 2018 is the time to do it! Extending disability and work-related injury coverage on your health insurance program not only protects you, but it also protects your business.
#3. Errors and Omissions Coverage
Where general liability coverage ends, errors and omissions coverage can fill in the gaps for business professionals and contractors who provide services and may face claims of failing to perform professional duties or negligence.
#2. Directors and Officers Liability
If you’re an owner of a business or a community leader and you act as an officer on a board, Directors and Officers Liability is an important addition to your insurance portfolio. Your position may make it more likely that you face suit for actions of the board on which you sit and this coverage may help reimburse you for the cost of your defense.
#1. Estate and Succession Planning
An unexpected death would undoubtedly be a tragedy but one without proper planning for estate and succession can be a DISASTER for both your family and your business. Making a plan that gives peace and direction for those you leave behind is our highest recommendation for 2018.
Check off each of these seven areas to fill some of the most common gaps in coverage and you’ll be ready to face whatever 2018 brings!
Happy New Year from Compass Insurance Partners!