John B Wright Blog

The New Year is a popular time to make changes in the workplace. Whether you are looking to employ more staff, purchase another work vehicle or make any significant adjustments to your business, it is a good idea to update your business insurance. NJ insurance agents will be able to advise you on how any changes to your business may impact your existing policies.

Any alterations to the number of staff will need to be recorded in order to update your workers’ compensation policy. In the event that you currently do not have workers’ compensation but are looking to take on staff, be sure to check your legal obligations. Depending on your field, it may be mandatory that you have workers’ compensation insurance once you reach a minimum of five employees. Any changes you make to the workplace dwelling, or extra equipment you purchase may influence the amount of business insurance you have in place. Consider too that a change in workplace direction (if you branch out to offer additional services) may mean your current insurance is lacking to some degree. 

Notify your agent in the event of any changes to ensure you always have the correct type and amount of business insurance. NJ business owners can then look forward to the New Year knowing their business has a good level of financial protection.

*