Proven Ways to Reduce Your Business Insurance Cost

Saving money on your business insurance is not always an easy thing for companies to do. You have many options regarding insurance agents and insurance companies that at times can be confusing. There are several ways to reduce your business insurance cost without jeopardizing coverage.

Here are a few:

• Use a broker who knows and understands your industry. Understanding your risks, and what markets are best suited for your risks, can result in lower costs.
• Provide driver’s training. Having educated and trained drivers can reduce your business auto insurance premiums.
  Have proper safety equipment. Do you have sprinklers and central station smoke detectors? These can help reduce insurance costs.
• Remove irrelevant coverage. Before agreeing to a business insurance policy, ask your agent which items are optional endorsements. Some endorsements can be removed if you don’t require the coverage. Removing irrelevant coverage can reduce your insurance premiums.
• Combine all your commercial insurance into one package. Insurers often give credits for more than one line of insurance (Property, Auto, Liability, Excess, or Professional Liability).
• Increase deductibles. Insurers will often provide good credits if you increase your deductibles on property or auto physical damage.

When you’re ready to talk about property insurance, our professionals at TWS are here to guide you through the process. Contact us now to get started.