Insurance Policy Audit: is your coverage still sufficient?
- Guntis Zoldners
- Feb 3
- 2 min read
Today’s business environment is fast-paced, and important topics such as insurance may not always receive the time and attention needed to ensure they truly serve their purpose: protecting against unplanned expenses.
Over time, both a company’s operations and the insurance market change. This leads to a reasonable question: When was the last time you carefully reviewed your insurance policies?
Automatic Renewal – Convenience or Risk?
Most companies renew their insurance policies automatically, especially if there were no major issues in the previous year. However, this approach can leave several important questions unanswered:
Does the current coverage still match your actual needs?
Is the policy information up to date and accurate?
Are there more cost-effective or more suitable offers available on the market?
Does Insurance Really Change Every Year?
Yes. Even if there have been no changes in your company’s operations, the insurance market is constantly evolving.
What changes:
insurers’ risk assessment principles;
policy coverage terms and their interpretation;
prices, limits, and deductibles, influenced by competition and claims trends;
legislation and industry regulations.
This means that a policy that was suitable last year may no longer reflect today’s reality.
How Can You Tell if Your Company’s Risks Have Changed?
Risks often change gradually and go unnoticed. Even in a seemingly “unchanged” business, it is worth paying attention to whether:
turnover, number of employees, or type of activity has changed;
you have started working with new clients or entered into different contracts;
new equipment or software has been acquired, or assets relocated;
employee needs have changed (for example, in health insurance);
new legal requirements or industry standards have come into force.
These changes are not always obvious, but they become critical when a claim is submitted.
What Does a Professional Insurance Policy Audit Include?
To objectively assess existing insurance policies, the following must be considered:
your company’s actual operations and risks;
regulatory requirements in your specific industry;
the current market situation and the range of insurers’ offerings.
Our brokers’ role is not only to compare prices, but also to identify coverage gaps, overlapping solutions, or unnecessary costs.
Free Insurance Policy Audit
Perks offers a free insurance policy audit for businesses.
An experienced broker will review your existing policies and prepare clear conclusions on:
whether there are risk gaps in your coverage;
whether you are overpaying;
whether your policies will function as intended in the event of a loss.
This is an opportunity to obtain an independent professional opinion without losing time or money.
We understand how busy business owners are and how complex the insurance system can be. That is why we offer our help free of charge – so you can feel confident that your company’s protection truly works.
+371 26 668 558
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