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When you own a business in Wayzata, Minnesota, you may obtain commercial insurance to protect your company from a variety of different problems. Depending on the policy that you obtain, the details of when you must renew your policy may vary. In some cases, your insurer may notify you that it is time to renew your policy.
Notifications
Commercial insurance companies may send a notification when your current policy is about to expire so that you can renew your policy and avoid a lapse in coverage. Since each company is different, the details about when they send a notification may vary.
Although some companies may notify you by phone or mail, every insurer is different and some companies may not send a notification that your business coverage is about to expire. It is your responsibility to determine if your coverage still applies.
Automatic Renewals
Although some insurers may notify you when your coverage is about to expire, it may be possible to set up an automatic renewal with insurers so that you do not have any gaps in your coverage. The ability to set up an automatic renewal system may vary based on the company and the specific business policies that apply to the situation.
When you automatically renew your policy, your insurer may send a new copy of your policy so that you can determine if it is still appropriate for your needs.
Protecting your business requires the right type of insurance. When your coverage is about to expire, it may be necessary to contact your insurer to find out whether you will obtain a notification or if you can renew your policy over the phone. To learn more about renewing your policy, contact us to talk to an independent agent today.