Written by: Jarred Rydalch
Lessons I’ve Learned as a Business Owner and Insurance Advisor
Before I entered the insurance industry, I spent nearly 20 years as a business owner. During that time, I purchased insurance for my own company and experienced many of the same challenges business owners face today.
Like many owners, I often viewed insurance as a necessary expense. We paid a significant amount for coverage, yet it was difficult to measure the return on investment. As business owners, we naturally look at expenses through that lens.
However, one thing I came to appreciate was having a trusted insurance advisor who regularly reviewed our coverage, explored options with different carriers, and helped ensure our insurance kept pace with changes in the business.
That proactive approach gave me confidence that we were properly protected.
Today, as an insurance advisor with The Buckner Company, I strive to provide that same peace of mind to my clients.
Why Business Insurance Should Be More Than a Renewal Conversation
One of the biggest lessons I learned as a business owner is that insurance should never be treated as a once-a-year transaction.
Businesses evolve. Operations change. New risks emerge.
As a result, business owners should regularly review their coverage and ask questions about their policies.
I always encourage clients to have open conversations with their insurance advisor about the types of coverage they carry and whether those policies still fit their needs.
Those discussions can help uncover gaps that might otherwise go unnoticed until after a claim occurs.
Looking Beyond Basic Property Coverage
Many business owners focus on protecting their buildings, equipment, and physical assets. While those coverages are important, I encourage clients to think beyond property insurance.
For example, what would happen if a fire, storm, or other loss interrupted your operations?
Would your business have the financial resources to continue operating during the recovery process?
Business income coverage, liability protection, and other risk management strategies often play a critical role in helping businesses recover from unexpected events.
These are important conversations to have before a claim ever happens.
How Strong Risk Management Can Make a Difference
Over the years, I’ve noticed a common trait among businesses that perform well from an insurance standpoint.
They pay attention to details.
Insurance companies appreciate businesses that maintain clean facilities, prioritize safety, and take a proactive approach to managing risk.
In many cases, these organizations experience fewer claims, create safer environments for employees, and position themselves more favorably with insurance carriers.
Good risk management isn’t just about insurance costs. It is about protecting employees, customers, property, and the long-term success of the business.
The Importance of Carrying Adequate Limits
One challenge I’ve encountered throughout my career is seeing individuals and businesses that are underinsured.
Unfortunately, many people do not realize they lack adequate limits until they experience a significant loss.
I often encourage clients to evaluate whether their current limits genuinely reflect the level of protection they need.
In many situations, increasing those limits comes at a relatively small cost compared to the financial protection they provide.
The goal is not simply to have insurance.
The goal is to have insurance that responds appropriately when you need it most.
Understanding What Your Policy Actually Covers
Insurance policies are contracts. As a result, coverage decisions often come down to the specific language within the policy.
That is why I encourage clients to understand their limits, confirm that property values are accurate, and review their policies regularly.
Just as importantly, I recommend working with an advisor who takes the time to explain coverage rather than simply renew it each year.
The more you understand your coverage, the more confident you can feel about your protection strategy.clients,” Blake says.
A Partnership Built on Long-Term Protection
My experience as a business owner continues to shape the way I work with clients today.
I understand the challenges of managing costs, protecting what you’ve built, and planning for the unexpected.
That perspective allows me to approach insurance as more than a policy discussion. Instead, I focus on helping clients identify risks, evaluate options, and make informed decisions that support their long-term goals.
At The Buckner Company, we believe insurance works best when it is paired with proactive guidance, thoughtful planning, and trusted relationships.
If you have questions about your current coverage or would like to review your risk management strategy, our team is here to help.
Connect with Jarred Rydalch and our team to start the conversation.