How To Save Money On Your Business Insurance
  1. Keep in close touch with your agent to:
    • Understand how your premium is being determined.
    • Inform your agent of the steps you are taking to prevent loss.

  2. Make arrangements to use the facilities of another firm in the same line of work in case there is an interruption period. Some insurance companies offer a discount on business interruption insurance if your business has a place where it can operate in the event of a fire or disaster.

  3. Store a backup of your electronic records off the premises.

  4. Take a higher deductible on your policy. It will probably result in a reduced premium.

  5. Buy a package policy rather than separate policies. Package policies often provide broader coverage at a lower price.

  6. Consider installing ignition cutoff systems, alarms or hood and wheel-locking devices in company cars. Some insurance companies offer discounts for these items.

  7. Discuss insurance with people in the same business. You may pick up trends in price and other developments which can save money.

  8. Involve employees in all programs to prevent loss and maintain safety.

This information was provided by the Insurance Information Institute