You’ve made it. You’re nearing the end of that all important first year in business. You’re a success. Things have gone better than you’d hoped.
You know your monthly expenses. Every month you’re working within your budget. You’re able to anticipate bills.
Your legal malpractice premium is going to come due on your first anniversary. Happy Anniversary!
My second year premium jumped 30% over the premium I paid the first year I was in business. Virtually nothing had changed on my application other than I was in business for a year.
The price increase felt significant. I hadn’t budgeted for this. After talking with my agent, this kind of jump in premiums in common.
Be prepared for this anniversary gift.