To help you protect your small business’ bottom line, this week Axis for Business reveals five ways to cut business insurance costs.
Why Do You Need Business Insurance?
Axis for Business is an independent energy and telecoms provider, who are always on the look out to ensure we find the best deals to help you save money. As such, we strive to find ways to help you keep your firm in the red.
Which is why this week we want to turn to the subject of business insurance. No matter what kind of company you own, you need to take out an insurance policy, to cover you should some unforeseen event occur, and stop it from impacting your company’s bank balance.
Use the Following Five Tips to Cut the Cost of Business Insurance
Of course, this adds an extra cost which racks up your business’ expenditure, which is why you need to get it as cheaply as possible. Use the following five tips to cut the cost of business insurance.
1) Shop Around: Only thorough doing your research, will you find the cheapest business cover. Use price comparison sites, such as MoneySuperMarket; they’ll do the work for you.
2) Negotiate: One cardinal rule is to never accept the first quote, or the new quote when your insurance comes up for renewal. Compare prices and negotiate, and you’ll find the cost of your premium drops, as the company strives to keep you as a customer.
3) Use Your Home Insurance: You may be able to cover your business with your home insurance, especially if you work from home. Speak to your buildings and content provider to see if they offer this service, and if they don’t, find one who will.
4) Tailor Your Cover: Being under insured is as bad as not being insured at all. That is why you need to find the right package, and tailor it for your business’ needs. That way, you’ll only pay for insurance policy elements you actually need.
5) Find a Good Claims Discount: Recover some of the money you’ve spent on insurance when your policy comes to an end, by finding one with a good no claims discount. This rewards you for not claiming, so even if you don’t claim, you’ll benefit by taking out business insurance.
Don’t Let the Cost of Insurance Bring You to Your Knees
At the end of the day, business insurance is a cost that you need to invest in, to keep your small company solvent should disaster rear its ugly head. But that doesn’t mean you should let the cost of insurance bring you to your knees and with these tips, you won’t have to!