Here Is What To Watch For In 2015
2015 is here and even though your San Juan County business insurance may not renew for a number of months, now is the time to start your insurance and risk management planning. For commercial insurance buyers, market conditions will generally be favorable. Here are a few of the hot trends for 2015.
Commercial Insurance Pricing
San Juan County Commercial insurance rates will likely decline for most industries. Remember that your premiums are based on sales, payroll, and property values; therefore your final premiums will reflect all these factors.
Coverage Trends For Commercial Insurance
Cyber liability continues to be a hot topic, especially after all the data breaches in 2014. Most small businesses have a greater chance of having a cyber-loss than they do a fire. Also getting a lot of press is employment liability. Small businesses are exposed to increased litigation from employees. Finally, environmental liability claims have increased 30% over the past number of years.
If Mother Nature decides that 2015 is going to be a tough year, expect rates to increase rather quickly. However, if we have a mild year, rates may stay low.
For many small businesses and individuals, navigating the health insurance maze will be a challenge. The cost of small group health insurance is becoming unsustainable for small businesses, startups, and small non-profit organizations.
Safe Harbor Insurance knows business in our communities – you can find our offices in Friday Harbor, and our clients all around WA. As an independent insurance agency, we take pride in reviewing your options with multiple insurance companies and comparing protection and prices to find the best value for your business.