Commercial Package Policy Prep: Protect Your Business Before Year-End

As the year draws to a close, it’s crucial for business owners to take proactive steps to protect their operations and assets. A comprehensive review of your Commercial Package Policy (CPP) ensures your business is fully covered against evolving risks and changing circumstances. At D.M. Johnson Insurance Agency, your trusted insurance agent in CT, we guide Connecticut businesses through this essential year-end process.

A year-end insurance review is more than a routine check—it’s a strategic opportunity to:

• Identify coverage gaps that may have developed as your business evolved.
• Adjust limits and endorsements to reflect new assets, services, or operational changes.
• Ensure compliance with state and industry regulations.
• Maximize discounts and optimize your premium spend.

Regular reviews foster peace of mind, strengthen your risk management, and demonstrate your commitment to protecting your business, employees, and clients.

1. Evaluate Changes in Business Operations

• Have you launched new products or services?
• Did you expand, downsize, or relocate?
• Are there new business activities that might require additional coverage types?

2. Update Your Asset Inventory

• List all new equipment, property, and inventory acquired this year.
• Remove assets you no longer own to avoid overpaying on premiums.
• Ensure your property insurance reflects current replacement values.

3. Reassess Your Risk Profile

• Consider emerging risks such as cybersecurity threats or regulatory changes.
• Review disaster preparedness and business continuity plans—does your insurance support these strategies?

4. Review Employee-Related Coverage

• Update your workers’ compensation policy for changes in workforce size or roles.
• Ensure employee benefits liability coverage is current if you’ve added or changed benefits.

5. Confirm Policy Details and Limits

• Double-check all business information for accuracy.
• Review deductibles, exclusions, and policy limits—do they still meet your needs?
• Clarify any policy terms you don’t fully understand with your insurance agent.

6. Seek Discounts and Bundling Opportunities

• Ask about multi-policy discounts or savings for implementing risk management strategies.
• Bundling policies under a CPP can streamline coverage and reduce costs.

7. Solicit Feedback and Plan for the Future

• Gather input from your team about new risks or concerns.
• Discuss anticipated changes for the coming year with your insurance agent to stay ahead.

Partnering with a knowledgeable insurance agent CT residents rely on, like D.M. Johnson Insurance Agency, ensures you receive:

• Personalized service tailored to your business’s unique needs.
• Expert guidance on Connecticut-specific regulations and market conditions.
• Ongoing support for claims, policy changes, and risk management throughout the year.

Don’t let the year close without a thorough review of your commercial insurance. Contact D.M. Johnson Insurance Agency—your dedicated insurance agent in CT—to schedule your year-end policy review. Protect your business, optimize your coverage, and enter the new year with confidence.

D.M. Johnson Insurance Agency: Your trusted insurance agent in CT for comprehensive commercial insurance solutions.