Insurance Insights

Michael Riley
AAA Washington Insurance Agency

Published: January 26, 2021
Have My Business Insurance Needs Changed?

Remote work and other changes to your business, employees and customers can increase or shift your risk. 

When I was 19, I needed a job to pay for college so I partnered with a friend to run a deli with the great aspiration to vend clam chowder on the streets of Seattle.

We soon learned that plan wouldn’t fly under city regulations, so our business had to change, and over the years we grew it into a 5,000-square-foot waterfront restaurant in Edmonds.

That experience helped me understand just how challenging business ownership can be. Now, as an insurance professional, I love helping business owners to ensure they are well-protected.

What changes can put my business at Risk?

If you are a business owner, you should pause and reflect on your insurance coverage, especially after the tumultuous events of this past year.

If your business had to adapt, your insurance needs probably have changed. Think about the following scenarios:

  • If some of your employees are working remotely, how do you protect equipment that’s in their homes?
  • If your employees are accessing your computer networks remotely and meeting virtually, do you have new cybersecurity concerns?
  • If your customers are accessing your goods and services in new ways, do you have different business liability needs?
  • Has your staffing level changed?
  • Has your product or service itself changed?

How can I protect my business?

These are just a few of the many insurance-related aspects of your business that might have been upended this past year. That’s why it’s important to lean on your insurance agent for guidance and insight.

Focus on your business, and let someone you trust focus on your insurance. It can be that simple — unlike many aspects of owning a business.

Michael Riley, director of sales at AAA Washington Insurance Agency, has more than 20 years of experience in the insurance industry and is a guest lecturer at Washington State University.

Learn more about business insurance basics with our free guide. AAA Washington Insurance agents are here to help. Whether you’re ready to buy, need an insurance review or simply have questions, we’re your one-stop shop. Call (877) 222-4678 for a professional consultation or find an agent online.

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