As the new year begins, it’s the perfect time for businesses to take a closer look at their insurance needs. Whether you’re a growing SME or an established company, having the right insurance coverage can make all the difference when it comes to safeguarding your day-to-day operations, critical assets like machinery and inventory, or your reputation in the face of liability claims. Here’s what to prioritise in 2025.
Start the year by reviewing your existing insurance coverage. For example, many businesses overlook updating their policies to reflect new equipment or expanded operations, leaving critical assets underinsured. Ensure your coverage aligns with your current operations and future goals.
Key areas to assess:
The business landscape evolves quickly, and so do the risks. For example, the rise in ransomware attacks and the increased frequency of extreme weather events highlight the growing relevance of cyber threats and climate-related challenges.
Consider adding:
Liability claims can be financially devastating if you’re not properly insured. Public liability, professional indemnity, and employer’s liability insurance are critical components for protecting your business.
Key considerations:
If you’re planning to grow your business in 2025, ensure your insurance can keep up. Expanding operations, hiring new staff, or moving to larger premises may require updates to your policies. For instance, a local manufacturing client of ours expanded into a new facility last year, and by revising their property and liability cover, they avoided underinsurance and ensured seamless operations during the transition.
Checklist for growing businesses:
Navigating business insurance can be complex, but a trusted broker can simplify the process by providing in-depth risk assessments, recommending tailored policies, and proactively identifying cost-saving opportunities. Brokers provide personalised advice, help identify the right policies, and advocate on your behalf during claims.
The beginning of the year is the perfect time to ensure your business is prepared for whatever 2025 may bring. Contact Dawson Insurance today to review your policies and ensure your coverage is up to date. Talk to one of our expert brokers to make 2025 a year of growth and security for your business.
Level One
Lakesyde Business Centre
1182 Whakaue Street
Rotorua
161 Commerce Street
Whakatane