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Business Owner With Light BulbRunning a business is no easy job and planning your business' finances is one of the toughest tasks. There's rent, utilities, supplies and insurance — wait, who wants to pay for insurance? True, business insurance may not seem like the most attractive way to spend your business' revenue; however, it provides big value when it comes to protecting your business' assets, liability responsibilities and more (depending on the nature of your insurance portfolio).

Any prudent business owner knows that insurance is not to be skipped. But it doesn't have to break the bank either. Here are a few ways that you can save on your business insurance.

Raise the Deductible

The higher your deductible, the lower your monthly premium. And let's face it: you're going to pay your premium a lot more often than you will your deductible, assuming you need to pay your deductible at all. It's recommended that you select the highest deductible your business could reasonably afford at any given time. Meanwhile, you can put away some of the money you save each month, which can then be used in the event that you do need to file a claim.

Bundle All Policies

As a business owner, you know that businesses make it a goal to get more repeat business from customers. The same goes for insurance carriers. If you bundle all of your insurance policies with a single insurer, as opposed to buying one here and one there, you could save up to 15 percent. Not to mention, it makes payments much easier for you to keep track of.

Enhance Business Security

Riskier businesses will pay more for insurance. Reduce your risk, and therefore your premium, by enhancing the security on premises. Make use (if you haven't already) of security alarms, smoke detectors, fire sprinklers, security cameras, outdoor lighting and more. The coverage discounts can be well worth the price of installation.

Talk to your independent agent to learn more about how you can save on your business insurance portfolio.

Get started today. Call First Insurance Group at (502) 348-5921 for more information on Lexington business insurance.
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First Insurance Group
Main Office 2520 South Highway 27 | Somerset, KY 42501 | Phone: (606) 679-3570
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