Whether you're shopping for a new policy or staring at a renewal, run through these twelve checks before you sign anything. This is the same review we do internally on every policy we place.
Liability layer
- Per-occurrence and aggregate limits — do they match your contracts and your asset exposure?
- Defense costs — inside or outside the limit? Outside is what you want.
- Additional insured language — correct endorsement forms (e.g. CG 20 10 + CG 20 37), blanket vs. scheduled.
Property layer
- Replacement cost vs. ACV — replacement cost on buildings and contents, almost always.
- Co-insurance percentage — check that your declared values aren't triggering a coinsurance penalty.
- Business income / loss of rent — sized to actual revenue, with a sane indemnity period.
Auto layer
- Hired & non-owned auto — if any employee ever drives for work, even occasionally.
- Uninsured/underinsured motorist — matching your liability limits, ideally.
People layer
- Workers' comp class codes — right code per job role, not just the cheapest.
- EPLI (Employment Practices Liability) — for any business with employees.
Specialty
- Cyber + crime — with social engineering / wire fraud coverage.
- Umbrella / excess liability — layered above primary, sized to asset exposure.
How we use this checklist
Every new policy we place gets walked through this list with the client before binding. If any line gets a "no" or a "not sure," we either fix it on the new policy or document the gap so you're making an informed call.
Run it on your current policy. If something stops you cold, send us a copy of the dec page — we'll tell you what's actually going on.
Quick answers
How often should a business review its insurance?
At least once a year before renewal, and any time you add a location, vehicles, employees, or a new type of work.
What’s the difference between replacement cost and actual cash value?
Replacement cost pays to repair or replace with new materials of like kind and quality. Actual cash value subtracts depreciation, so older property pays out less.
Do I need an umbrella if I already have general liability?
An umbrella adds limits over your GL, auto, and employer’s liability. Many contracts require higher limits than a primary policy provides, and an umbrella is usually the cheapest way to get there.
Want a real review?
Let us walk through your current coverage with you.
Send us your declarations page and we'll come back with apples-to-apples comparisons — usually in one business day.