a woman business owner

Owning a small business can be one of life’s greatest balancing acts. Every day there’s the stress of managing employees, finding customers, and monitoring cash flow. On top of that, you will always feel the pressure to keep costs down – and productivity up. For business owners, it’s important to consider your commercial insurance costs and how to keep your premiums down without cutting corners and sacrificing coverage.

 

Take a look at how to save on business insurance:

 

  • Use a broker who knows and understands your industry. Having an understanding of the risks and what markets are best suited for your risks can result in lower costs. Your broker should be able to work with you to find the best coverage at the right price.
  • Increase your deductible. Avoid cutting down on coverage to save on costs by increasing your deductible – which is your out-of-pocket cost in the event of a claim. Taking on more financial responsibility helps to save money monthly.
  • Create a safer environment by educating employees on workplace safety to help reduce rates and liabilities.
  • Find weaknesses in your physical and digital security systems. Decreasing the chances of a break-in or data breach could help reduce payments and stop an incident from occurring in the first place.
  • If you can afford the upfront cost, consider paying your insurance premiums annually. You’ll skip fees that might be associated with monthly payments, and you can relax knowing you have year-round coverage and one less bill to worry about.

Don’t compromise your coverage when looking to reduce your business insurance premium. Are you ready to secure the right business insurance? The team at Sausman Insurance Agency can help. Contact us today to get started.