Business owners are always looking for ways to improve their bottom line. In a tough economy, especially, belt tightening measures can be the difference between survival and failure of a business. If you are eyeing your insurance coverage for places to trim expenses, you will find some opportunities; it just takes a bit of hunting.
Every commercial operation, from large corporate entities to very small shops, needs commercial coverage. The best way to find deals and get the best possible rates on your business insurance is to work with an independent agent in the Trusted Choice® network. These agents have access to multiple companies and can find the most affordable business insurance plan for you. And these carrier partnerships allow independent agents to serve all of your business insurance needs, from property and casualty insurance to directors and officers coverage to workers comp. Contact a local agent today to get started.
The best ways to keep your business insurance costs low are to know exactly what you need, and get the amount that is appropriate for your company. For example, if you never drive a vehicle in the course of doing business, then you most likely do not need commercial vehicle insurance. However, if you do need commercial auto, find every possible savings opportunity within that plan. Be sure to hire experienced drivers with excellent driving records, for example. You can also require them to take a driver safety course. And finally, bundle your auto policies together for multi-policy discounts.
There are definitely ways to find affordable business insurance plans, and one of the most effective ways to get cheaper insurance and trim the fat from your expenses is to cut out excess coverage that you do not actually need. Just make sure you don’t reduce costs by eliminating business policies or important coverage you do need.
Here are a few ideas for ways to save on your business insurance costs:
As a business owner, you have a range of opportunities to reduce costs through proactive efforts on your part. One of the most critical steps you can take is to work closely with an independent agent who will devote the time to fully understand your business needs and risks. The process is similar to working with an accountant who knows where to find deductions you wouldn’t necessarily think of on your own.
A local independent agent in the Trusted Choice network will fully get to know your business and perhaps visit your facility, if appropriate, to learn how you operate. Your agent may identify several additional ways to cut corners on your insurance bill while still getting the highest quality coverage and maintaining an optimal risk management program.
For example, you may be able to get discounts by improving your company’s overall safety and security and remaining claims-free. Some of the ways you can do so include the following:
Some of the measures you take to reduce your commercial insurance costs may require an investment in the short term that will yield discounts and savings in the long run. Your agent can help you to assess which safety and security measures make the most sense for your organization and will yield the best outcomes.
To get the most affordable business insurance for your company, find a Trusted Choice member agent today. Because these agents work with multiple insurance companies, you will have several options and can choose the best coverage for your company at the rate that fits your budget. Your agent will also be able to combine all of your business coverage in one package, so you have one contact for all of your commercial insurance needs.