Top Five Ways to Save on Your General Liability Insurance:
Have you started a new business? Are wondering where to buy a business insurance policy? Have you been paying for the same liability policy for years and aren’t sure it’s the right coverage? Has your business recently moved from Denver to the suburbs or vice-versa?
Here are the top five ways to save money on your general liability insurance policy:
1. Work with an agency that represents more than one company. Certain companies often specialize in working with one type of business over others. By working with an independent agency, you can be more confident that your business insurance policy is placed with the right company.
2. Provide your agent with as much information as possible. There are frequently other discounts that you may be eligible for. When your insurance agent takes this information to the companies he or she will attempt to apply as many discounts on your insurance as possible.
3. Ask about packaging your business policy with other policies like life insurance, auto insurance, or workers comp insurance. Insurance companies can often add multiple discounts on top of one another. The more policies you have, the more discounts you may be eligible for.
4. Be sure to mention any classes you have taken or certifications you have received. Insurance companies often offer discounts for those who have proven a commitment to their profession. This often includes being a member of your local professional association.
5. Be careful about when you choose to file a claim. Many business owners have been forced out of business because they were no longer able to afford or obtain insurance after multiple claims. If you are ever uncertain a good local agent can help offer direction.
BONUS TIP: Work with a local insurance agency who knows the laws and rules of your state and city or town. Insurance laws and regulations are different from state to state. Working with an out of state agent may not be aware of certain coverages or restrictions required in your area.