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First Florida Underwriters Insurance blog

Three things to consider when you update your commercial insurance policy

One of the most important things you need to do when it comes to your commercial insurance is periodically updated it. At First Florida Underwriters Inc, we sell commercial insurance policies in Orange Park, FL.

The following are three things to consider when you update your commercial insurance policy.

Any new product or service offerings

Adding new product or service offerings is one of the biggest reasons why you need to update your commercial insurance coverage.

When you offer new products or services, it could create new liabilities for your company. You need to address these liabilities with changes to your commercial insurance policy.

Changes to your business facilities

Another thing that could possibly alter your liabilities, as well as your company assets, is updates to your business facilities. If you’ve purchased an additional commercial facility or updated an additional facility, you probably need to adjust your commercial policy. 

Make sure to reevaluate the commercial property coverage on your policy any time your business facilities are altered in any way. 

Company vehicles

Company vehicles need to be insured under your commercial insurance policy. One of the most important functions of commercial insurance is to insure vehicles used for commercial purposes. 

An accident in a company vehicle can really cost your company. That’s why it’s essential to make sure that you have adequate liability, collision, and comprehensive coverage included in your commercial auto coverage.

If you add new vehicles to your company fleet, make sure you make the appropriate updates to your commercial insurance policy. 

If you have questions about buying commercial insurance in Orange Park, FL, we can help at First Florida Underwriters Inc. Get in touch with us to explore our policy offerings.