Is Your Lafayette, LA Business Underinsured? Here’s How to Know

Insurance is one of those things many small business owners in Lafayette don’t think about—until it’s too late. From River Ranch boutiques to Northside repair shops, it’s all too common for local businesses to discover they’re underinsured only after a loss happens.

At Acadiana Risk Management, we help Lafayette business owners get the right protection before problems arise. Here are five signs you might be underinsured—and how a Business Owner’s Policy (BOP) can help close those gaps.

1. You Rely on Home Insurance for Your Business

If you run your business out of your home in areas like Youngsville or Carencro, don’t assume your homeowners policy covers it. Most standard policies don’t protect business equipment, liability, or client interactions. A BOP can.

2. You’ve Grown—but Haven’t Updated Your Coverage

Have you expanded your storefront on Congress Street? Hired more employees? Added a new product line? If so, your old insurance policy may not reflect your current risk. A BOP grows with your business and can be adjusted anytime.

3. You Don’t Have Business Interruption Coverage

Lafayette’s been hit hard by power outages, hurricanes, and unexpected shutdowns. If you couldn’t open for a few weeks, how would you pay the bills? Business interruption coverage within a BOP replaces lost income during downtime.

4. You Think Liability Won’t Affect You

Even the most careful business owners can face lawsuits. All it takes is one injury, one data breach, or one angry customer. General liability coverage is a core part of your BOP and helps cover legal defense and settlements.

5. You Don’t Have Industry-Specific Coverage

If you're in the food service, construction, or healthcare industries, you likely need additional endorsements. From spoilage to equipment breakdown, a BOP can be customized for your Lafayette-based operation.

Local Insight: Lafayette’s economy is a vibrant mix of food, culture, construction, and energy. With economic shifts and environmental risks, it’s more important than ever to keep your coverage current and tailored to our region’s realities.

Want to Review Your Current Coverage?

Let’s take a look—no pressure. At Acadiana Risk Management, we’re here to help protect your business, your livelihood, and your peace of mind. Give us a call or request a free quote today.