Depending on your industry, the risks to your business can change and evolve. Your next insurance policy that covers most of the holes today may not be as good two years from now. Also, as the nature of your business evolves, so should the insurance policy covering potential risks.
Keep in mind that your liabilities will grow as the business grows. If you need to purchase equipment, or if your equipment can break down during operations, you must get the right insurance to cover the risk of that happening.
Take, for instance; your business may not be at risk of a potential workers compensation lawsuit because you're only a one-person business. However, as the business grows and you bring people on board, you'll need those employees covered, and that means the next year or the year after would be a good time to re-access your need for workers' compensation and get it.