How to Cut the Cost of a Business Insurance Policy

Owning and running a business is costly enough. You have to keep your company stocked, staffed and advertised. If you, a co-owner or an employee gets ill or injured, you need insurance to protect yourself. Insurance policies are pretty costly on a company basis. Here are some ways to cut the cost of a business insurance policy.

Difficulty: Moderate

Instructions

1. Stick with insurers that are familiar with your industry. Many insurance companies are eager to insure any type of business. But if you find an insurance agent that is familiar with your industry, the costs are always lower.

2. Select the best possible policy. Insurance agents will usually offer either a multiple peril package or a business owners' policy. Picking the best form of insurance for the business can save thousands of dollars a year.

3. Screen employees better. If you do a better job of screening job applicants before hiring them to prevent careless and inexperienced people from jeopardizing the company, your insurance company will like you more. Many business insurance companies will give discounts, as long as they realize you're taking additional steps to make them money and cost them less.

4. Investigate your business as if you're an insurance company. Insurance companies are mainly interested in how often claims are filed. They don't really care much about how much a claim costs them. Only file a claim with your insurance company if you absolutely have to, and you'll save your insurance company--and you--money.

5. Take on a larger deductible. If you take on a larger deductible for your policy, your premium will be lower.

[choicearizona]

on 2/9/2008 http://www.arizonaautohomelifeinsurance.com/builderarizonacc/mesa/index.php

I think some consumers like having all insurance with one person, but when it comes to business insurance your personal lines agent may not have the experience