When you own a small business, you have many things that require the attention of your checkbook. Make sure that your business insurance in Pasadena, CA isn’t something you find as baggage.
Your business insurance in Pasadena, CA is likely one of the many items in your long list of expenses you wish could just disappear. Trust us, you’re not alone. (Yes, even insurance companies need insurance!) Unfortunately, it is one of your more important expenses, so getting rid of it would leave you exposed to the countless dangers that businesses face. Each business is unique and requires a unique insurance policy that has the right amount of protection for that company. Fortunately, there are some things you can do that would significantly reduce the price of your business insurance policy premium. Here are some factors you need to consider when purchasing or updating your business insurance policy to save you on some serious cash.
Review your deductible with your insurance agent. Your deductible is the amount you’re going to have to pay out-of-pocket before your insurance company steps in to cover the rest, up to the limit of your insurance policy. Increasing this deductible for each coverage on your policy may mean a reduced premium. This is because you are taking greater financial responsibility should something happen to your business. Before you frantically call your agent and demand the highest deductible possible, it’s important to know that you can actually pay the high deductible.
Bundle your coverages with the same insurance company. Many insurance companies offer different insurance coverages—your company may offer auto and home insurance coverage, apart from the business insurance for which you’re currently signed-up. Bundling, or purchasing multiple insurance coverages under the same company, may reduce your overall premium for not only your business but also the other things you need to buy. Insurance companies do this because they want to reward your loyalty and keep you around longer. We won’t lie, if they can get more money from you, why wouldn’t they slightly reduce their overall margin of profit? It’s a win-win: you save more money in your pocket, and they make more money because of the multiple coverages you just purchased.
Managing the cost of your business insurance doesn’t have to be difficult, especially with the right insurance agent. When looking for the right business insurance in Pasadena, CA to meet the needs of your unique type of work, contact the independent insurance professionals at Massive Insurance. We can tailor the right general liability insurance policy for your business.