On July 14th, we celebrate National Tape Measure Day—a day that reminds us of the importance of precision and accuracy in measurements. While we typically associate tape measures with home improvement projects and DIY tasks , this year, let's extend this concept to something equally important yet often overlooked: commercial insurance.

Just as a tape measure ensures that a piece of furniture fits perfectly in a room, measuring your commercial insurance ensures that your business is adequately protected without overpaying for coverage you might not need. Commercial insurance is crucial for protecting your business against unforeseen events, liabilities, and disruptions. However, the insurance landscape can change annually, and what was a good deal last year may no longer be the most competitive option.

Changing Needs: Your business evolves over time. New equipment, expanded operations, or changes in industry regulations can affect your insurance needs. An annual review ensures that your coverage aligns with your current business activities and potential risks. Market Dynamics: Insurance rates and coverage options can vary widely from year to year. By comparing quotes from different insurers annually, you can take advantage of competitive pricing and potentially negotiate better terms. Risk Management: Effective risk management goes hand in hand with insurance coverage. Conducting an annual review allows you to identify emerging risks and ensure your insurance policies provide adequate protection against them.

Evaluate Your Current Coverage: Begin by reviewing your existing policies. Understand the extent of coverage, exclusions, deductibles , and limits. Consider whether any changes in your business operations warrant adjustments to your coverage. Shop Around: Don't settle for the first renewal quote you receive. Obtain quotes from multiple insurance providers or work with an independent insurance broker who can help you compare options across different insurers. Consider Customization: Commercial insurance is not one-size-fits-all. Tailor your insurance packages to meet your specific needs. This might include general liability , property insurance, professional liability, cyber insurance, and more, depending on your industry and risk profile. Review Policy Terms: Pay attention to the fine print. Understand the terms and conditions of each policy, including coverage limits , exclusions , and the claims process. Ensure that you are comfortable with the insurer's reputation and financial stability.

This National Tape Measure Day, take a moment to apply the precision of a tape measure to your commercial insurance policies. By conducting an annual review and comparing your options, you can ensure that your business is adequately protected at the best possible price. This proactive approach not only safeguards your business against unexpected losses but also maximizes your financial efficiency.

Remember, just as a well-measured project brings satisfaction and efficiency, so too can a well-measured insurance policy bring peace of mind peace of mind and cost-effectiveness to your business operations.

Happy National Tape Measure Day—and here's to measuring for success in your commercial insurance choices!

Here at Riseson Insurance in Tempe we will help you measure out the best deals and policies for you.

The Significance of Measuring Your Commercial Insurance

Why Annual Review Is Essential

Steps to Measure Your Commercial Insurance

Celebrate National Tape Measure Day with Smart Insurance Choices

1. Changing Needs: Your business evolves over time. New equipment, expanded operations, or changes in industry regulations can affect your insurance needs. An annual review ensures that your coverage aligns with your current business activities and potential risks.
2. Market Dynamics: Insurance rates and coverage options can vary widely from year to year. By comparing quotes from different insurers annually, you can take advantage of competitive pricing and potentially negotiate better terms.
3. Risk Management: Effective risk management goes hand in hand with insurance coverage. Conducting an annual review allows you to identify emerging risks and ensure your insurance policies provide adequate protection against them.

1. Evaluate Your Current Coverage: Begin by reviewing your existing policies. Understand the extent of coverage, exclusions, deductibles , and limits. Consider whether any changes in your business operations warrant adjustments to your coverage.
2. Shop Around: Don't settle for the first renewal quote you receive. Obtain quotes from multiple insurance providers or work with an independent insurance broker who can help you compare options across different insurers.
3. Consider Customization: Commercial insurance is not one-size-fits-all. Tailor your insurance packages to meet your specific needs. This might include general liability , property insurance, professional liability, cyber insurance, and more, depending on your industry and risk profile.
4. Review Policy Terms: Pay attention to the fine print. Understand the terms and conditions of each policy, including coverage limits , exclusions , and the claims process. Ensure that you are comfortable with the insurer's reputation and financial stability.