Start the Year Strong with the Right Insurance Strategy

The beginning of a new year is a natural reset for many businesses, including nanny agencies. You’re reviewing goals, budgets, staffing plans, and growth opportunities. It’s also one of the best times to take a fresh look at two areas that are intertwined for small business owners: your business risk insurance and your personal insurance coverage.

With decades of experience insuring both business owners’ businesses and personal assets, we have found that Insurance reviews don’t need to be reactive or tied to a problem. When done proactively at the start of the year, they can uncover gaps, reduce risk, and ensure your agency and household are properly protected as your business evolves.

Here are some insights on why January is an ideal time for an insurance checkup.

What Changed in the Past Year?

For nanny agencies, a lot can change in a year, sometimes without realizing it.

You may have added placements, recruiters, or administrative staff; your revenue has hopefully grown (or shifted), and you may have expanded into new states or markets. You likely updated contracts, policies, or service offerings, and you may have invested in new technology or client management systems.

All of these changes can affect your insurance needs. Reviewing coverage early in the year allows you to:

• Align insurance with your current business size and risk tolerance
• Avoid being underinsured or paying for coverage you no longer need
• Start the year confident that your agency and your personal assets are protected if something unexpected happens

Business Insurance: Protecting the Agency You’ve Built

Nanny agencies face unique risks that typical small-business policies often don’t adequately address. From candidate screening to placement services, your exposure looks very different from a traditional office-based business.

That’s why working with a household employment industry expert matters, such as the GTM Insurance Agency, which offers a specialty insurance program designed specifically for nanny agencies, built around the realities of household employment and in-home placements.

This program typically helps agencies address key exposures such as:

• Professional liability (E&O) for placement and referral services
• General liability for day-to-day business operations
• Cyber liability to protect sensitive client and candidate data
• Employment practices liability (EPLI) for agency-side employment risks

Because the program is designed for nanny agencies, coverage is structured with industry-specific scenarios in mind rather than forcing agencies into one-size-fits-all policies.

Conducting a review at the beginning of the year helps confirm that coverage limits still match your revenue and growth; that your policy reflects how your agency operates today; and that new risks (such as expanded digital operations or multi-state activity) are properly addressed.

Why Personal Insurance Matters for Agency Owners

Many nanny agency owners are surprised to learn how closely their personal insurance is tied to their business risk.

If you own and operate a small business, gaps in your homeowners and auto insurance coverage can still create exposure.

Homeowners Insurance

Your home may be more connected to your business than you think. Working from home, storing business records, hosting interviews or meetings, or using personal equipment for agency operations are all covered under your homeowners policy.

An annual review ensures your homeowners insurance reflects your home’s current value and rebuilding costs, accounts for any business-related use, and coordinates with your business coverage.

Auto Insurance

If you use your personal vehicle for business errands, candidate or staff meetings, or occasional agency-related travel, that use falls under your auto insurance coverage.

Your personal auto policy may need adjustments to avoid coverage gaps. An annual checkup confirms that your usage is properly classified and protected.

One Review Provides Clearer Protection for the Year Ahead

Starting the year with an insurance review isn’t about expecting problems as much as it’s about removing uncertainty.

For nanny agency owners, it means:

• Knowing your business is protected by coverage designed for your industry
• Making sure your personal assets aren’t exposed unnecessarily
• Heading into the year with confidence as you grow and plan

Whether your agency had a year of steady operations or significant changes, January is the ideal time to make sure your insurance still matches reality, and not last year’s version of your business.

Contact the GTM Insurance Agency to get the conversation started.

Remember that GTM is here for you and your families as a resource for all things concerning household payroll. Please don’t hesitate to contact us with questions or to request information.