Owning a small business comes with a lot of responsibilities. It can also cause business owners a lot of worry, making sure that they are properly covered with the right insurance. While small business insurance is vital to making sure that small business owners can stay financially secure in the event of a lawsuit, paying for insurance should not empty your bank account. Keep these tips in mind to make sure that you keep your insurance costs low, while keeping your coverage high.
- Bundle. Small business require many different insurance policies, such as a liability policy and a different policy to cover any damage to the office furnishings. Putting all of your business insurance under one policy with the same carrier can help keep premiums low, and make insurance renewals less of a hassle.
- Evaluate deductibles. Increasing the amount of policy deductibles, or the amount of money paid out of pocket for a claim before insurance kicks in, can help lower the cost of the insurance premiums. Keep in mind that although the premiums will be lower, you will have to pay more out of pocket in the event of a claim.
- Meet with your agent annually. When renewing insurance policies, make sure to check with your agent for any new business trends that may entail getting a different policy.
- Consider risk management in daily operations. Make sure to reduce any potential risks, such as fire or customer injury every day. Having strong risk management practices can help your small business avoid some preventable losses.
For the best, most comprehensive business insurance in the Fresno, California area, contact McCarty Insurance. As a family-owned independent insurance agency, they will work with their affiliates to make sure you have the best insurance policy the will fit all the needs of your small business.