Keeping Secrets From Your Insurance Agent

Your insurance agent can only respond to the changes in your business that he or she knows about. Some agents are more proactive than others. The ultimate responsibility, however, is with you to let them know. Here are some issues to bring to your agent’s attention:

–Changes to your operation such as new products or services, expansion to another state, new uses of current products, and international operations or travel.

–Joint ventures with other companies, mergers, and acquisitions.

–New locations, new buildings, additions to current buildings.

–Additional equipment or an increase in the inventory, stock and supplies held by you.

–Changes in the distribution of your product, which means greater values held in your warehouse or higher values being transported.

–New vehicles or temporary storage locations. New equipment purchases.

–Home offices or telecommuters.

–Change in fire protection equipment, addition of alarms or sprinkler systems. The addition of video surveillance equipment.

–New leases or other contracts that involve assumption of liability or indemnification.