In today’s dynamic small business landscape, contractors are expanding their services and taking on new challenges. But have you reviewed your insurance policy recently? Many common operations pose unique risks that might not be covered under your current policy. For example, roofing is often excluded from standard handyman policies, and if you’re a roofer, you may not be covered for hot roofing applications. If you initially set up your policy as a framer or carpenter but have started doing flooring and drywall work, this could have different implications for your coverage.

If your work involves welding, are you aware of the necessary procedures to maintain your warranty coverage? Similarly, hot application roofers need to know if they require a fire watcher. Even if your policy covers your new operations, there could be additional coverage options you should consider. For instance, an installation floater protects against losses caused by insured perils before a job is completed—like if a water line fails behind the tiled shower wall you just finished. If you're exhibiting at a trade show, an exhibition floater covers your liability and stock on display.

Also, keep in mind that the average commercial auto coverage radius is typically 40 kilometers, with a maximum of 80. If you plan to operate outside of this range, it’s crucial to discuss this with your broker to ensure you have the right coverage.

As your business evolves, staying in close contact with your broker can provide you with peace of mind, ensuring that your insurance works effectively when you need it most.