Shopping for new insurance can be stressful, especially when it comes to commercial insurance. You need coverage to protect your business investment, but spending too much money can take a bite out of your operating budget. If you're in the market for commercial insurance, it's time to start thinking of ways to save some money. Here are just four simple steps you can take to reduce the cost of your commercial insurance coverage.
Think Building Safety
When it comes to saving money on your commercial coverage, the first thing you should do is inspect the building. Believe it or not, the condition of your commercial building could affect your insurance premiums—especially if there are security risks present. Before you purchase new insurance, conduct a safety inspection of your building. Install security lights around the perimeter of the building, and install, or update, your building security system. Finally, remove any obstructions that are located near your exterior windows.
Go Higher on the Deductible
If you've decided to opt for a lower deductible, you might end up spending considerably more for your insurance premiums. To save money on your commercial insurance, talk to your agent about raising your deductible. Spending a bit more out-of-pocket when you file a claim can save you hundreds of dollars on your policy. This is particularly true if you've never filed a claim before.
Know Your Employees
If you have company cars that your employees will be driving, you'll need to add automobile coverage to your commercial policy. Once you start adding drivers to your policy, your insurance company will take a look at their driving records. Unfortunately, if your employees have poor records, you may end up paying considerably more for your insurance. Before you start placing employees on your commercial insurance, make sure you know their driving records. If they have blemishes on their records, don't place them on your insurance until those issues have been resolved.
When it comes to saving money on insurance policies, bundling up is the way to go, especially if you're going to have several different commercial policies. Talk to your agent about placing all your policies into one convenient bundle. You'll save money and your policies will be linked together in one convenient location.
If you're in the market for commercial insurance, make sure you save as much money as possible. Use the tips provided here to get the coverage you need without overspending on the policies, and talk with insurance representatives, such as those at Family Insurance Centers, for more information.Share
10 April 2017
When I lost my job, I also lost my health insurance. I've never had to buy health insurance on my own before, so when I went to my insurance agent, I had no idea where to start. The coverage options, deductibles, co-pays, and premiums were confusing. I wasn't sure how to make sense of all of the tiers and doctor's networks. I created this site to help others who've never purchased health insurance before. The posts here are full of resources for insurance coverage, and I hope that it will help you to find the policy that's right for you.