Five Ways to Save on Business Insurance

Five Ways to Save on Business Insurance

Even in the best of times, businesses need to be prudent about how they spend their money. It is even more critical when the economy is evolving. Today, businesses are searching for ways they can operate more efficiently and trim back where necessary.

Business insurance doesn’t have to be a casualty of cutbacks. In fact, there are ways you can save on your business coverage while having little to no affect on your coverage. Here are five ways to save on your business insurance.

  1. Use an independent insurance agent. If the insurance agent you use is “captive” it means he can only represent the products of the insurance company he works for. On the other hand, an independent insurance agent represents you. He has access to many companies and is able to compare the policies of these different providers. This can be particularly beneficial when building a custom business insurance plan. If you are looking to save on your business insurance, the place to start is with an independent insurance agent.
  2. Get an insurance review. A business insurance review verifies your coverage and serves as a reminder of where you are and aren’t covered. Some companies have had their business insurance in place for years without taking a step back to see if it still serves its intended purpose. An insurance review allows you to reset your coverage to appropriate levels for today’s business needs.
  3. Pay through auto-pay. Many insurance companies provide an automatic discount when premiums are paid annually, semi-annually or through an auto payment plan. These are discounts you can take advantage of without affecting your business insurance coverage at all!
  4. Ask about discounts you may qualify for. Are you conducting more of your business virtually? Are more of your employees working from home? Has the number of your employees changed? These are just some of the factors that could lead to a discount in your business insurance.
  5. Make your workplace safer. One of the best ways to save on business insurance, especially liability and workers’ compensation, is to focus on creating a safer working environment. Installing fire alarms, video security systems and alarms and enhancing security are ways to earn discounts.

Get Started Today

Start by contacting one of our independent insurance agents and schedule a business insurance review. Find out where coverage is sufficient and where there may be gaps. Our agents will go to work finding you the coverage you need and deserve at competitive prices. You have nothing to lose. We look forward to assisting you.

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