There are plenty of ways to make sure you're not shelling out too much for your business insurance. Take the time to investigate all of your options, and you will find many effective ways to reduce your insurance bill. Read on for some cost-saving ideas.
- Raise that deductible. The deductible— the amount a business must pay before insurance coverage kicks in — is a great place to save money. By setting the deductible higher, your annual premiums may be lower.
- Receive a claim-free bonus. Try to avoid using your business insurance for small incidents.
- Bundle up. Discounts may be available if you have multiple policies. Talk to your agent about the right type of coverage for you and your business and any discounts that may be available. Consider obtaining auto, homeowner's, life and business insurance to possibly further your savings when you combine insurance policies and put a few more bucks back in your pocket.
- Manage your risk. An ounce of prevention can go a long way. Consider ways you can minimize your exposure to risks like fires, natural disasters, or employee and customer injuries. Installing smoke detectors, sprinklers or a security system can often lower your risk. Take some of these prevention steps and your insurance company might just reward your prudence.
- Look into a Business Owners Policy. This type of insurance package may be less expensive than buying each type of policy a la carte. If you're a small to medium-sized business, you should consider this type of policy.
- Perform annual check-ups.Small businesses change rapidly — whether that means expanding to a new location or adding a product line — and your insurance needs will too. Don't just stick with what you've got. Review your insurance coverage and needs with your agent at least once a year, making sure you have the right policies that match your current state of affairs.
For business insurance — on everything from commercial vehicles to small business protection — Allstate gives you great protection at a great price.
Talk to your local agent or call us at 1-888-322-3070 to learn how we can help you save on business insurance.