February 25, 2015
4 Tips For Managing The Insurance Costs Of Your Small Business
Cost-Effective Business Insurance Solutions
Business owners looking to find success with their small business have a bountiful of planning measures on their hands. For one, you have to find a way to maximize profits while simultaneously minimizing losses. In doing so, you have obtained the necessary insurance policies to protect your investment. However, insurance costs can become overwhelming if you are not aware of simple and convenient ways to save. Gathered are 4 tips for managing your insurance finances effectively:
- Are you bundling? There is no logical reason to hold your commercial insurance policies with various insurance agencies. Holding your liability coverage, property insurance, workers compensation, and everything in between with the same agency will land you a significant insurance discount.
- Often, new business owners will choose a higher deductible so that they can obtain less expensive premiums. When utilizing this money saving strategy, it is important for you to remember that you will be required to fork over that elevated deductible before you can receive any reimbursement after a claim is filed.
- Since your small business is likely to grow year after year, the importance of scheduling an annual insurance review cannot be stressed enough. This is when you will go over your current coverage and discuss any necessary coverage additions. Nearly every individual and business can benefit from the discussion that comes with an annual insurance review.
- If you do not currently hold strong risk management strategies in your daily operations, it is time to upgrade your security. Obtaining advice about the best way to defend your business is the best offense one can hold.
Contact Brewer-Lloyd Insurance Group in Mesa for all of your Arizona business insurance needs. We will go above and beyond to secure a commercial insurance policy for your business that maximizes protection without breaking the bank.