Manage Your Small Business’s Insurance Needs With These 3 Tips
One thing which all small businesses need to manage is costs. When costs overtake income, most small businesses don’t have too large a war chest to tap into. If you need some help to manage your small business’s insurance, here are 3 tips.
Bundle: Many insurance companies these days are offering umbrella bundled policies. If yours is a family owned business you may be able to achieve some real discounts by bundling your own family insurance in under your businesses insurance. At the very least you may be able to achieve some discounts by bundling your employees insurance coverages with the businesses insurance.
Deductible: Another area you can really save money on your insurance policy is the deducible. The deductible is the amount you pay before you insurance kicks in if there is a claim. For some the lower the deductible the better. But if you raise your deductible you may be able to save some substantial money on the premiums you pay each month. Of course if you have a lot of claims then you may not want to do that; but if your claims are too regular, you might want to consider the third suggestion.
Risk: One more way to manage your small business’s insurance is to manage your risk. You may have totally amazing staff who keep breaking limbs on the job. By undergoing some risk management training and teaching people how to do their job safer, you will be able to save immensely. Oftentimes just getting your staff certified in certain areas can mean substantial insurance savings.
You may need to talk with someone about your insurance needs. If you are looking for coverage or more information for your business in New Jersey, call on the expert team at Schumacher Insurance.
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