Read about small business insurance through articles that our experts have penned.

Business Changes That Might Affect Your Insurance Needs

Small businesses can change dramatically in a matter of months. Whether you're hiring new employees, offering new services, or upgrading to a bigger office, your structure may vary widely from one month to the next.

To ensure that you enjoy risk protection no matter how your business grows or shifts position, be sure to check with your insurance agent if you make any of the following changes.

Hiring or Firing Employees

As your balance of contractors, part-time workers, and full-time employees shifts, your insurance needs will, too. As you incorporate new employees into your company, be sure to update your insurance policies to cover their activities, from transactions conducted on behalf of the business to an injury they suffer on the job.


Relocating the office means a load of new documents, compliance initiatives, and legal wrangling. As part of moving the office to a new location, you'll have to update all legal documents, including your business insurance policies. Allow a time cushion to update your policies, because your new workplace may have a different risk profile than your old one.

(FYI: workplace-related factors that might affect your insurance needs include square footage of your office space, security features, and exposure to natural disasters.)

Purchasing New Equipment

Because a your Property Insurance premium varies depending on the type and volume of hardware and equipment your business uses, it's a good idea to update your agent if you make any major purchases. The smaller your business is, the more likely a single purchase will affect your coverage needs.

Changes in Goods or Services Offered

Adding a new item to your inventory or launching a new service could affect your insurance needs, particularly if you carry a Professional Liability (aka Errors & Omissions or Malpractice) policy. Your insurance agent can help you identify the risks associated with your latest offerings and determine what kind of insurance will offer you adequate coverage.

Significantly Increasing or Decreasing Revenue Levels

Increasing revenue is the goal of many small-business owners, but doing so often means insurance needs will change. Most noticeably, your policy coverage limits may need to increase if your business's revenue significantly increases. Decreases in revenue, too, can affect your insurance needs, so be sure to discuss actual revenue and expected revenue levels with your insurance agent.

Customer Reviews
Rated 4.9 out of 5 Stars

"Amazing customer service, loved that I could do everything via email. Nothing better than that."

"Excellent and responsive service. My agent was out when I called but another person jumped right in and took care of the policy."

Read more reviews...
Insurance Resources

Insureon Blog

Stay in the loop about how insurance is affecting small businesses around the country.


Get the latest insurance research and other useful tools from the Insureon Small Business Institute.

Sample Certificate

See a Certificate of Liability Insurance, a one-page proof of coverage.


Short video guides to basic insurance topics.