Preparing For The Future Of Your Company

Oct 7, 2020, 1:30 PM

Whether you’re working from home or reopening your doors, you’ll need the right business coverage for you.

If you own a business, this might be the best time ever to think about the future of your company. You’ve probably been able to cut expenses with employees working from home. Maybe you’ve streamlined your processes because supplies and customers aren’t available the same way they used to be. Some companies report many of their employees are going to be remote permanently

There’s a good chance that your business won’t operate the way it did before COVID-19. A changing business environment means your company needs to be responsive and prepared for the unexpected.

Businessowners multicoverage insurance

Being ready for anything — well, that’s kind of the point of insurance. We offer many different types of policies for small and mid-size businesses as well as what we call add-on coverages. One that’s useful to almost every businessowner is simply called Businessowners Multicoverage

It features support for businesses that are growing quickly. There’s expanded coverage for accounts receivable (up to $10,000), employee dishonesty (up to $5,000), valuable papers (an additional $10,000), and water backup (to a maximum of $10,000).

If you’re expanding your business, there’s an additional $5,000 coverage for the increased cost of construction, an additional $100,000 for newly acquired and constructed buildings, and even an additional $2,500 to pay for the cost of recharging your fire extinguishers if needed.

When you have your Hastings Mutual insurance coverage updated and in place, it’s time to think about other tools that will help you build your business. Try a customer management system; even if it’s just a basic spreadsheet, you’ll be able to learn more about who’s buying your products and services.

A simple website or Facebook page will attract visitors, and it’s a great way to collect email addresses. Then you’ll have a mailing list for updates and newsletters — information you can send about your new expanded business to all your customers, wherever they are.

Questions? Let us know in the comments. 

The Mutual Understanding blog and Hastings Mutual videos are made available for educational purposes only. The information referred to is not an official company statement, corporate policy, or offer of coverage. Refer to your insurance policy for specific coverage. There is no representation as to the accuracy or completeness of any information found by following any link on this site. Please contact your local independent insurance agent with further questions and for more details on any insurance policy-related information you read here.

© 2020 Hastings Mutual Insurance Company. All rights reserved.

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