How to Manage Your Small Business Insurance Costs

Tips to help you save money on business insurance expenses.

As a small business owner, you have a lot of responsibility. As a growing business, you’re always looking for ways to save money when you can. When it comes to insurance, however, you know you need it, but you also know it affects your business’s bottom line expense. Your business shouldn’t cut corners when it comes to coverage. Here are a few ways to keep on top of your insurance costs without sacrificing coverage.

Shop around

Don’t opt for the first business insurance policy you see online. It pays to shop around. Compare quotes from at least three different companies, evaluating the coverage and premium. Although it may seem tempting to go for the cheapest policy, it may not always provide the best coverage for your business.

Bundle with a BOP

A business owner’s policy (BOP) combines several common types of protection together (e.g., property, business interruption, and some liability) into a single plan. Generally, this plan is more affordable than buying all of the insurance coverages separately. Talk to your insurer about securing a BOP to save money while obtaining the right amount of coverage.

Review Coverage Often

Your small business is growing – which means your insurance should adapt to your new needs. Review your coverage annually or when major changes in the business occur so that your company is always protected. Many small businesses owners leave their commercial insurance on the back burner and only find out that their 3-year-old policy doesn’t protect their needs anymore.

Ready to find an affordable plan for your business? For all of your business insurance needs in Mifflintown, Millersburg, Lewistown, and surrounding cities in Pennsylvania contact the professionals at Sausman Insurance Agency today.