Saving money on South Carolina business insurance is not always an easy thing many companies to do. You have many options regarding insurance agents and insurance companies that at times can be confusing. We specialize in business insurance. We have a proven track record of providing the right combination of pricing and coverage, along with experience and responsive service.
There are a number of ways to reduce your business insurance cost without jeopardizing coverage. Here are a few:
- Use a broker who knows and understands your industry. Having an understanding of the risks, and what markets best are suited for your risks, can result in lower costs. Have us shop your insurance. We have access to many insurers, this allow us to offer many options.
- Provide driver’s training- having educated and trained drivers can reduce your business auto insurance cost up to 5%.
- Have proper safety equipment. Do you have sprinklers and central station smoke detectors? These can help reduce insurance costs.
- Remove irrelevant coverage. Before agreeing to a business insurance policy, ask the insurance agent which items are optional endorsements. Some endorsements can be removed if you don’t require the coverage. Removing irrelevant coverage can reduce your insurance premium.
- Combine all your commercial insurance into one package. Insurers often give credits for more than one line of insurance (Property, Auto, Liability, Excess, Professionals).
- Use special markets. There are insurers that specialize in your industry. .
- Increase deductibles. Insurers often will provide good credits if you increase your deductibles on property or auto physical damage.
- Reduce your risk, Talk with your insurance agent about how you can help prevent insurance losses. You may be able to reduce your exposure to fires, work-related accidents, disasters or lawsuits. Reducing these risks may lead to fewer claims, which may lower your insurance premium.
- Use insurers that specialize in your industry, this can save you up to 15%.
- Keep up to date with current liability trends; liability claims tend to be the most significant claim with most aspects of insurance.
Having insurance premiums reduced by cutting corners is not the ideal way to deal with high insurance premiums. That’s a case of addressing the symptom – not the problem. Lowering premiums by reducing the risks posed and faced by your business is a far healthier solution.
As a business owner, you have enough on your mind without having to worry about your insurance needs. You want to have the confidence that the business you’ve built is covered by a company that understands your business insurance needs.