Most small businesses I talk to are feeling the impacts of inflation these days. It feels like it’s coming from all sides. One thing to keep in mind is whether you’re still adequately covered by your insurance, which this Travelers article (linked below) discusses.
I’m always happy to talk to my clients and do an individual review and updated replacement cost estimate to make sure you’re properly covered. It’s important to keep an updated statement of values for your building property, automobiles, and business personal property too.
It’s hard to know for certain the cost of a future event to rebuild over the next 12 to 36 months. Local contractors and real estate appraisal services have the best knowledge on this subject, and they can use comparables in estimates.
Let me know if you have any questions or concerns about inflation or your insurance coverage.
Read the Travelers article.