Save Money on Your Business Insurance

Here are five ways to save money on business insurance: 
1.    Meyer Insurance Agency can shop around for you.
Prices vary from company to company, so it pays to shop around. We are an independent insurance agency and can search several companies with the best possible package at the most competitive price.  All of the companies we work with are financially stable. 
2.    Choose a higher deductible.
Deductibles represent the amount of money you pay before your insurance policy kicks in. The higher the deductible, the less you will pay for the policy.
3.    Buy a package policy.
It can sometimes be cheaper to purchase a package policy, such as a Business owners Policy (BOP), rather than individual coverage’s.  A package policy provides standard coverage’s and limits of liability that are appropriate for typical small-to-medium-sized businesses.
4.    Work closely with your agent or broker.
Your Meyer Insurance Agency professional can provide invaluable advice to help protect your business from unexpected disasters. But you need to keep him or her informed about any major changes in your business. This includes major purchases, expansions or changes in hiring or the nature of your operation. Also, get your agent’s advice in terms of disaster planning. Ask what you can do to both reduce risks like fire or work-related accidents, as well as the procedures that should be in place in case your business does suffer a major catastrophe.
5.    Ask about ways to prevent losses.
You may be able to reduce your premium for certain coverage’s by following your insurer’s recommendations. These can include workplace safety, disaster preparation, and human resource intervention.