1. Understand Your Coverage Needs

Assess Your Risks: Before meeting with an insurance agent, take the time to assess the specific risks associated with your contracting business. Consider factors such as the type of work you do, the size of your projects, the number of employees, and the equipment you use. Understanding your risks will help you determine the types of coverage you need.

Identify Required Coverage: Certain types of coverage may be required by law or by your clients. Common coverage types for contractors include general liability, workers’ compensation, commercial auto, equipment and tool coverage, and surety bonds. Make a list of required coverages to discuss with your agent.

2. Choose the Right Insurance Agent

Look for Specialized Experience: Select an insurance agent who specializes in contractors insurance or has significant experience working with contractors. An experienced agent will understand the unique risks and requirements of your industry and can offer tailored advice.

Check Credentials: Ensure the agent is licensed and has a good reputation. Check online reviews, ask for referrals from other contractors, and verify their credentials with your state’s insurance department.

Evaluate Communication: Effective communication is key to a successful partnership. Choose an agent who is responsive, listens to your needs, and explains complex insurance terms in a way you can understand.

3. Compare Quotes and Coverage Options

Get Multiple Quotes: Request quotes from multiple insurance companies to compare coverage options and premiums. Your agent can help you gather these quotes and explain the differences between them.

Evaluate Coverage Limits: Ensure the coverage limits are adequate to protect your business in the event of a major claim. Discuss with your agent the potential risks and the appropriate coverage limits for each type of insurance.

Consider Policy Endorsements: Policy endorsements or riders can provide additional coverage for specific risks. Ask your agent about endorsements that may be beneficial for your business, such as coverage for subcontractors, completed operations, or additional insured status for clients.

4. Review and Understand Policy Details

Read the Fine Print: Carefully review the policy details, including exclusions, deductibles, and coverage limits. Make sure you understand what is and isn’t covered under each policy. Your agent should be able to clarify any terms or conditions that are unclear.

Ask Questions: Don’t hesitate to ask your agent questions about the policy. Inquire about claims procedures, premium payment options, and any discounts you may be eligible for.

5. Maintain and Update Your Coverage

Regularly Review Your Policies: Your insurance needs may change as your business grows or takes on different types of projects. Schedule regular reviews with your agent to ensure your coverage remains adequate and up-to-date.

Report Changes Promptly: Notify your agent of any significant changes to your business, such as hiring new employees, purchasing new equipment, or expanding services. These changes may affect your coverage needs and premiums.

Stay Informed: Stay informed about changes in insurance regulations and industry trends that may impact your coverage. Your agent can provide updates and advice on how to adjust your policies accordingly.

Conclusion

Getting the best contractors insurance through an agent involves understanding your coverage needs, choosing the right agent, comparing quotes, reviewing policy details, and maintaining your coverage. By following these steps and working closely with an experienced insurance agent, you can secure the protection your business needs to thrive. Investing in comprehensive contractors insurance is a smart decision that provides peace of mind and financial security for your contracting business.

An agent or broker review is not about changing advisors for the sake of change. It is about ensuring your insurance strategy continues to align with your business, risk profile, and long-term goals.

Why Agent and Broker Reviews Matter

1. Businesses Change Faster Than Insurance Programs

Operations evolve, revenue grows, new locations open, and services expand. Without regular review, insurance programs can lag behind reality, leaving exposures uninsured or misclassified.

A periodic agent review ensures your advisor understands how your business has changed and adjusts coverage accordingly.

2. The Insurance Market Constantly Shifts

Carriers adjust underwriting appetite, coverage terms, pricing models, and exclusions. An agent who was effective five years ago may not be leveraging today’s best markets or negotiating terms aggressively.

A review evaluates whether your agent is staying current and advocating effectively on your behalf.

3. Risk Profiles Become More Complex Over Time

Cyber risks, employment claims, supply chain disruptions, and regulatory exposure continue to grow. Many businesses remain underinsured simply because these risks were not prominent years ago.

A proper review identifies emerging risks and recommends coverage or operational solutions before losses occur.

4. Claims Experience Reveals Strength or Weakness

How claims are handled is often the true test of an insurance advisor. Business owners should evaluate whether their agent provided guidance, advocacy, and follow-through during claims or simply submitted paperwork.

A review clarifies whether your agent is acting as a partner or a policy processor.

The Core Elements of an Effective Agent and Broker Review

A meaningful review should go beyond pricing and include the following key components.

1. Business and Operations Overview

The review should begin with a detailed discussion of how your business operates today, not how it operated when the policy was first written.

This includes:

• Changes in revenue or payroll
• New services or products
• Property acquisitions or expansions
• Use of subcontractors or vendors
• Geographic growth

2. Coverage and Limits Assessment

Your agent should evaluate whether current policies and limits reflect your actual exposure.

This includes reviewing:

• Liability limits and umbrella adequacy
• Property valuations and replacement cost accuracy
• Business income coverage assumptions
• Professional, cyber, and employment liability needs

3. Contract and Lease Review

Many businesses unknowingly assume contractual obligations that exceed their insurance coverage.

A proper review includes:

• Lease requirements
• Client or vendor contracts
• Indemnification clauses
• Additional insured obligations

Your agent should confirm coverage aligns with contractual risk transfer.

4. Claims Review and Loss Trends

Past claims often reveal future risk.

An effective agent review analyzes:

• Frequency and severity trends
• Root causes of losses
• Claims handling effectiveness
• Opportunities to reduce future claims

This discussion often leads to operational improvements and premium stability.

5. Risk Management and Loss Control Strategy

Insurance alone does not control risk. A strong agent should provide or coordinate practical risk management support.

This may include:

• Safety programs and training
• Employee policies and procedures
• Vendor management strategies
• Cybersecurity best practices

6. Market Strategy and Carrier Relationships

Your agent should explain:

• Which carriers are being used and why
• Alternative markets available
• Long-term placement strategy
• Opportunities to improve terms or stability

This transparency helps business owners understand how their program is positioned in the marketplace.

7. Communication and Service Expectations

Finally, the review should clarify:

• How often reviews will occur
• Who handles claims and service issues
• How quickly the agency responds
• Proactive communication standards

Clear expectations lead to better long-term relationships.

The Real Value of a Periodic Review

An agent or broker review is not about finding the lowest premium. It is about ensuring your insurance program supports your business, protects your assets, and adapts as risks evolve.

When done correctly, reviews reduce surprises, improve claims outcomes, and strengthen financial resilience.

A Trusted Advisor Makes the Difference

Business owners benefit most from working with an insurance advisor who welcomes accountability, encourages transparency, and proactively reviews coverage not just at renewal, but throughout the year.

If your business has not conducted a comprehensive agent or broker review recently, now is the right time to ensure your coverage, strategy, and service are truly working for you.

A new year brings fresh opportunities for growth and improvement. For business owners, the start of 2026 is the perfect time to reassess commercial insurance, strengthen coverage strategies, and build a more resilient risk management plan. Every business faces evolving exposures and rising claim activity, which makes intentional planning essential. These five New Year’s insurance resolutions can help protect your company, your employees, and your financial future.

Evaluate your commercial insurance program from top to bottom

A lot can change in twelve months. Operations expand. Payroll increases. Equipment is replaced—inventory shifts. New vehicles are added. New client contracts create new obligations. A thorough annual review ensures your commercial insurance is aligned with your current operations, not last year’s conditions. Examine your general liability policy, commercial property policy, commercial auto coverage, cyber protection, workers’ compensation, and industry-specific policies. Updated coverage helps reduce costly surprises at claim time and ensures your program grows with your business.

Strengthen your business continuity and disaster recovery protection

Natural events and unexpected shutdowns can devastate a business without proper preparation. Business interruption coverage is one of the most important protections a company can have because it replaces income and covers operating expenses when a covered event forces you to suspend operations. Review your limits for accuracy and evaluate whether extended business income or extra expense coverage is appropriate. Combine this financial protection with a written continuity plan that outlines how your team will respond to disasters, utility failures, supply chain disruptions, or property damage. A strong recovery strategy reduces long term financial stress.

Improve your cyber security posture

Cyber crime continues to rise, and small and mid-sized businesses are now prime targets for ransomware, data theft, and email fraud. A New Year focus on cyber protection can dramatically reduce exposure. Cyber liability insurance offers coverage for breach notifications, legal costs, business interruption from cyber events, data recovery, and reputation management. Pair coverage with stronger internal practices such as multi-factor authentication, employee training, secure passwords, and vendor security reviews. Cybersecurity is now a core part of every modern commercial insurance program.

Reassess your liability limits to match today’s claim environment

Legal judgments and settlement costs are increasing across the country. Even a single major claim can threaten the long term stability of a business. Reviewing your liability limits each year is essential. Higher limits on general liability, auto liability, professional liability, and employment practices liability provide broader protection. Many businesses also benefit from a commercial umbrella policy which adds an additional layer of coverage at a relatively low cost. A strong liability posture gives owners confidence and keeps assets protected.

Commit to an annual meeting with a commercial insurance professional

An experienced insurance advisor offers perspective that goes well beyond policy documents. They understand market trends, industry risks, and coverage strategies that safeguard profitability. An annual consultation helps identify gaps, evaluate new exposures, compare carrier options, and ensure your insurance program remains aligned with business goals. This partnership provides proactive guidance throughout the year, not just at renewal time. When risks evolve, your plan evolves with them.

Start 2026 with a stronger risk management plan

By adopting these five New Year insurance resolutions, your business becomes more prepared, more resilient, and better protected against the unexpected. Commercial insurance is more than a financial requirement. It is a foundation for long term stability and growth. If you want help reviewing your business coverage or building a more strategic insurance program, our team of professionals is ready to assist with expertise and personalized service.

Your Business Insurance Company May offer Resources

Check with us to see whether your business insurance company offers tools and resources to help you. Your business insurance will respond to many hazards and risks covered under your policy.

Three Questions to Ask About Your Business

1. How vulnerable would your business be if a disaster or other emergency were to occur?
2. Do you have a plan to protect your employees and business?
3. Have you provided emergency preparedness training to employees?

The American Red Cross offers free tools that may be useful to you: www.readyrating.org

Get Your Business Prepared

• Review your policy with us to make sure you understand the nature of your coverage, the deductibles, and the limits of your insurance.
• Create evacuation and shelter safety procedures.
• Create backup copies of critical data and programs.
• Train your employees annually in emergency preparedness.
• Protect vital business records. Keep your most important documents in a safe that has been tested and listed by UL (Underwriters Laboratories) as being resistant to fire, heat, burglary tools and torches.
• Create an emergency contact list.
• Learn what kind of emergencies might affect your business.
• Decide ahead of time what you can do if your building becomes unusable.
• Make emergency preparedness part of daily procedures and communications.

Liquor Liability

The single most important insurance coverage your restaurant or bar needs is Liquor Liability. Liquor Liability will defend you against charges, losses, and claims resulting from your negligence arising out of serving or selling alcohol. If your operation were found liable you could lose hundreds of thousands of dollars.

If you serve a customer alcohol and they are involved in an accident, the injured party and the person to whom you served the alcohol can file a claim against your business for damages.

Liquor Liability Insurance is available, but not always included, under Commercial General Liability policies. In fact, most standard liability policies exclude Liquor Liability. Liquor Liability can be purchased as an endorsement to your Commercial General Liability policy. If you serve or sell alcohol at your restaurant, bar, tavern, we recommend you add this coverage.

Food Poisoning

Food poisoning does occur infrequently, and it is not limited to restaurants that have poor hygiene standards or obtain their foods and ingredients from less-than-reputable sources. Guests can become sick from not only the food itself, but also the preparation and cooking methods

Employment Liability

Whether you are a large or small restaurant you know the employer – employee relationship has changed. In today’s world, employers can no longer assume all employment relationships will go smoothly. Finding a suitable Employment Practices Liability Insurance (EPLI) program has become one of the most important things owners and managers can do.

We have many more insurance products for restaurants and can create and deliver real solutions for you.

The Directors and Officers (D&O) insurance market has entered a new phase. After several years of volatility, claim activity, and shifting underwriting standards, 2025 and 2026 are bringing new challenges and opportunities for executives and their companies.

Whether your organization is a growing private firm, a nonprofit, or a publicly traded company, D&O coverage remains essential for protecting leadership from claims tied to management decisions. Here are the key issues shaping the D&O landscape today.

1. The Evolving Regulatory Environment

Regulators are becoming more active and coordinated across multiple jurisdictions. The Securities and Exchange Commission, state attorneys general, and global watchdogs are increasing their scrutiny of corporate disclosures, governance practices, and ESG reporting.

For company leaders, this means more potential exposure to enforcement actions and shareholder suits. Compliance and transparency are not optional they are central to D&O risk management.

What to do: Ensure your company has clear documentation of board decisions, strong disclosure controls, and a review process that involves both legal counsel and your insurance advisor.

2. The ESG Factor

Environmental, Social, and Governance (ESG) issues continue to dominate boardroom discussions. Shareholders, regulators, and investors are demanding greater accountability in climate reporting, diversity metrics, and sustainability commitments.

D&O insurers are watching closely. Misstatements or failures to follow through on ESG goals can trigger claims of misrepresentation or breach of fiduciary duty.

What to do: Be consistent in your company’s ESG communications and actions. If you make public commitments, ensure those goals are realistic, documented, and aligned with your corporate strategy.

3. Cybersecurity Oversight and Board Responsibility

As cyberattacks grow in both frequency and impact, boards are being held more accountable for oversight of cybersecurity and data protection. Recent lawsuits have targeted directors for failing to ensure proper cyber risk management.

What to do: D&O and cyber insurance should work together. Make sure your board receives regular cybersecurity briefings and that your D&O policy does not exclude claims related to cyber incidents.

4. Mergers, Acquisitions, and Investment Risk

Deal-making is on the rise again, and with it comes increased litigation risk. Claims often arise from disputes over valuation, disclosure, and fiduciary duty in both successful and failed transactions.

Private equity firms and startups are particularly exposed as investors demand accountability when deals do not perform as expected.

What to do: Before entering a merger or acquisition, review your D&O coverage and tail provisions. Make sure policies cover pre-closing acts and that limits are sufficient to address potential post-transaction claims.

5. Rising Shareholder Activism

Economic uncertainty, performance pressure, and governance concerns have fueled an increase in shareholder activism. Activist investors are using litigation and proxy battles to influence board decisions, executive compensation, and corporate strategy.

What to do: Communicate openly with investors, maintain transparent financial reporting, and prepare your leadership team for potential activist engagement. D&O coverage should include defense for regulatory investigations and derivative suits.

6. Litigation Funding and Increased Claim Severity

The growth of third-party litigation funding has made it easier for plaintiffs to pursue complex and costly lawsuits against corporate leaders. As a result, settlement values and defense costs have climbed.

What to do: Review policy limits and consider higher excess coverage. Evaluate carriers that specialize in complex litigation management and global defense coordination.

7. The Shift Toward Private Company Claims

D&O risk is no longer confined to large public companies. Private and family-owned businesses are increasingly facing claims related to employment practices, shareholder disputes, and financial mismanagement.

What to do: If your company has outside investors, a board, or complex ownership structures, D&O coverage is critical. Private company policies are affordable and customizable to your risk profile.

8. Underwriting Discipline and Market Stability

After several years of premium increases and tightened underwriting, the D&O market is showing signs of stabilization. More insurers are reentering the space, bringing competitive pricing for well-managed companies. However, carriers are maintaining a strong focus on governance, transparency, and financial performance.

What to do: Maintain open communication with your agent and underwriters. A clean governance record, strong financials, and documented compliance practices can help secure favorable terms and pricing.

The D&O insurance environment in 2025 and 2026 is complex but manageable for companies that stay informed and proactive. Strong governance, transparent reporting, and integrated risk management are now the foundation of adequate D&O protection.

Our agency specializes in helping businesses navigate these evolving risks and secure tailored D&O coverage that protects executives, board members, and corporate assets.

Leading losses for small businesses and the average claim cost

• Reputational harm: $50,000
• Vehicle accident: $45,000
• Fire damage: $35,000
• Product liability: $35,000
• Customer injury or property damage: $30,000

New and growing risks faced by expanding businesses

As your business grows, your risks change.  It is beneficial for business owners to have an understanding of how risks change because of growth.

• Contract disputes increase. Growing businesses often develop relationships without written agreements, resulting in disputes.
• Increased employee litigation. When businesses hire new people, often they overlook proper hiring practices. This often leads to litigation.  Make sure your business has an employment practices liability policy.
• Increase in worker injuries. A greater workload leads to increased hours and the possibility of employee injury.  Your workers’ compensation policy will cover work related injuries.
• Building damage. Often, growing businesses fail to pay attention to building maintenance, which can lead to all kinds of damage. Read your property policy to make sure you do not void your coverage through lack of attention to safety issues.

¹Source for article: PC360.com

Let’s take a look at the most common insurance claims filed by small and mid-sized businesses and why reviewing your coverage today could protect your future.

Common Claims That Can Hit Any Business

Property Damage
Fires, water leaks, severe weather, or vandalism can bring business to a halt. Property insurance typically covers physical damage to your building or contents, but many business owners are surprised to learn that lost income from downtime is not automatically included. That requires a separate business interruption policy.

Slip and Fall Injuries
A customer trips over a rug or slips on a wet floor. These incidents are among the most frequent liability claims and can result in substantial medical bills or legal fees. Make sure your general liability insurance includes solid limits that match the risks of your business.

Theft
From break-ins to employee dishonesty, theft remains one of the most reported business claims. Unfortunately, standard property insurance does not always cover stolen cash or employee-related theft. Reviewing your endorsements can make a big difference.

Vehicle Accidents
If your employees drive their own cars for business tasks, you might still be liable in the event of an accident. Many owners forget to ask about hired and non-owned auto coverage, which can fill this gap.

Cyber Incidents
Phishing emails, ransomware, and data breaches are not just problems for large corporations. Small businesses are often targets because they lack strong defenses. Cyber insurance can help with breach response, legal expenses, and even public relations support.

You Might Not Be as Covered as You Think

Many business owners assume their policy has them covered, only to discover exclusions or limits when they file a claim. That is a tough lesson to learn during a stressful situation.

A Quick Review Can Save You Thousands

Business risks evolve. So should your coverage. If it has been more than a year since your last policy review, now is the time to sit down with a knowledgeable agent and make sure your coverage still fits your needs.

Let’s connect for a quick, no-pressure review. You may have more risk than you realize and better protection may be easier to get than you think.

A small retail gift store recently came to love their business insurance policy. The store stocked and sold locally made candles as part of their product offerings. The store sold one of those candles to a customer who used it the same day. The candle had a defect that caused the base to overheat, which started a fire, and the customer’s home burned to the ground. The customer’s homeowner’s insurance paid the $350,000 claim, and then sued the shop owner. The basis of the claim was there was a product defect in the candle which caused the loss. The shop owner then went to the candle maker, but the candle maker had no insurance. The shop’s business insurance paid the claim, and the shop was able to stay in business, because of the product liability coverage found in their policy.

Know Your Business Liability Coverage

• Bodily Injury–Bodily Injury to a third party.
• Property Damage–Damage to a third party’s property (equipment building etc.).
• Personal Injury–Injury to the mind or emotions, as opposed to an injury to property.
• Advertising Liability–Damages arising out of advertising, libel, slander, or invasion of privacy.
• Products and Completed Operations–Liability arising out of the Nonprofit’s products or business operations and services conducted, excluding professional services.
• Premises–Covers liability arising out of injury to third parties while on your premises.
• Medical Payments–A general liability coverage that reimburses others, without regard to the insured’s liability, for bodily injury while on your premises.

You should also pay attention to the exclusions in your business liability insurance policy. Some of the common exclusions are:

• Pollution
• Workers’ compensation
• Directors and officers liability
• Professional services
• And more

Many of the exclusions can be added or purchased under a separate policy.

In today’s interconnected world, businesses rely on third parties more than ever, vendors, contractors, delivery services, and even digital partners. But with those connections come risks that can seriously impact your bottom line if not properly managed or insured. Here are the top three third-party risks every business should be aware of:

1. Liability from Vendors and Contractors

If a third-party contractor causes property damage or injures someone while working on your behalf, your business could be held liable. Even if you didn’t directly cause the harm, your name and reputation are at stake. This is especially critical in industries like construction, retail, hospitality, and professional services where subcontracting is common.

Tip: Always require certificates of insurance and written agreements from vendors outlining liability and indemnification responsibilities.

2. Cybersecurity & Data Breaches from Partners

You may have your data secured but what about the companies you share it with? Third-party data processors, software providers, and online platforms could be the weak link that exposes your business to a breach. A single lapse by a partner could cost you time, money, and customer trust.

Tip: Work only with vendors who follow strict cybersecurity protocols, and consider cyber liability insurance to protect against potential losses.

3. Product Liability from Outsourced Manufacturing or Suppliers

If your business sells or distributes products made by a third party, you could still be named in a lawsuit if that product fails or causes harm. This is especially important for retailers, importers, and any business involved in product distribution.

Tip: Ensure suppliers carry their own product liability insurance and have proper quality controls in place. Also, protect your own business with a commercial general liability policy that includes product liability coverage.

Final Thought:
Third-party risks are not always within your control but how you prepare for them is. Working with a trusted insurance advisor can help identify vulnerabilities and ensure your policies are designed to protect you from the unexpected.