In this period of financial uncertainty, businesses large and small need to ensure their costs are as low as they possibly can be, therefore aspects such as insurance must be researched well to ensure you are getting the best deal. If you are looking for business insurance, there are a few things you can do to drive down the premium.
If you have been using the same insurance company for years on end, now is the time to shop around and see if you are really getting the best deal. Companies will often tell you that you are receiving a discounted rate for renewing your policy with them, but this still may not be the best rate so go online and see what other insurers have to offer. Business owners are usually very busy people therefore the ease of renewing with the same company can often be tempting, but taking just a little bit of time could save you hundreds.
When it comes to insurance that protects the commercial properties against damage and theft, you need to make sure you are able to actively show that you have taken measures to avoid such occurrences from happening. Physical security products such as roller shutters and window grilles are a great place to start and many insurance companies will ask you about them. Fire shutters are another good installation and can also affect your insurance costs.
If you have been renewing the same policy for years on end, it is now time to assess the information and ensure the features of your policy along with what elements of your business it covers are still relevant. Go through your current policy carefully and ensure you are only covered for what you really need. Businesses waste hundreds every year through having irrelevant insurance policies so you could be in for a pleasant surprise!
Study the Excess
Whilst we all hope that we will not need to call upon our insurance, the fact is that this is a real possibility and therefore you need to make sure it isn’t just the premium that’s low, it is also the excess amounts. Many insurers offers the facility to set your own premium so think carefully as obviously the higher the excess amount, the lower the premium and vice versa.
If you are looking to get a great deal on business insurance, you need to be prepared to put in the groundwork and take steps to protect your premises effectively to prevent incidents in the first place.
About Author: Sophie works alongside CR Security Shutters and understands just how important the presence of high quality roller shutters and other security products can be when searching for low cost business insurance.