The core focus on any business policy should be to adequately protect the property and the business from losses/damage and liability. Below are 10 ways to help you save on business insurance.
1) First, consider your "business specific" insurance costs: You would be surprised on how many times I come across prospective business owners who start investing heavily on a startup business venture only to find out that they did not budget for the insurance costs.
2) Group Rates: Some professional organizations offer group rates.
3) Increase your deductible: The higher the deductible, the lower the cost of your insurance.
4) A Central Alarm system: This type of security system will save you money on your business property insurance.
5) Consider a package policy. Instead of just a General Liability policy, you can save money by combining other risks such as property (i.e. inventory, or the building), an umbrella policy, business income, a commercial auto, etc., to your existing policy.
6) Evaluate regularly your insurance coverage needs: As your business grows, so should the amount of coverage that you should have.
How to Save Money on Your Business Insurance Policy
In the throes of today's economic recession you'd be hard put to find someone who'd say no to saving money on anything, which means saving money on Business insurance has become a major accomplishment for American Business. Here are simple steps you can take to save big money on your Business insurance:
1) Shop around. For example, did you know that many Business insurance providers will give discounts for:
a) Hail resistant roofing?
f) The age of your business? (For example, purchasing your Oklahoma Business insurance policy from the same provider that carries your auto insurance.)
Knocking big bucks off your Business insurance isn't as hard as you might think. Remember, your insurance provider wants your business. Save Money and Pay Less on
Your Business Insurance
Are you paying too much money to your business insurance provider? According to the AA British Insurance Premium Index, premiums have been steadily rising with the average cost of buildings insurance reaching its highest level ever in July, 2009. If you signed up for an insurance policy when you first bought a house, chances are you've never bothered to see if there are cheaper options available. So if you've not already joined the internet revolution, make money saving your motivation.
Don't neglect business security
Most providers offer discounts for increases in business security - for example if you install alarm systems, windows/door locks, security lighting and CCTV cameras.
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