When you own a small business you’re in charge of every single detail

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Business Insurance

When you own a small business you’re in charge of every single detail and there are constant demands that require your attention . . . and your checkbook.

Business insurance is likely one of the items on a list you have that keep sucking money out of your business and your pocket. You should look at it as an investment though, because it’s a very important part of your business that you’ll most likely eventually need—even if you are the most careful of business owners. To save more money on your insurance costs, follow these tips which you may find to be very useful.

Check Your Deductible

A deductible is the amount of money you have to pay out-of-pocket before your insurance carrier steps in to cover you. The higher your deductible, the lower your premium is bound to be. This is because you are assuming a greater financial responsibility and will be paying more in the event of a claim than you otherwise would.

Bundle Up

Some business owners purchase multiple policies to cover a variety of potential risks. Bundling, or purchasing each policy from the same vendor, may be something of which you can take advantage. Your insurance company may reward you for your loyalty and offer a discount.

Review Your Coverages

Make sure that you are paying for exactly what your business needs. If you don’t have vehicles for your business, then why are you paying for commercial auto insurance? If you don’t need it, let the policies go. You’d be surprised how much money you can save by only paying for what you need.  For help managing your business’ expenses, having the right team of insurance experts behind you can give you the peace of mind that you deserve. Contact the experts at John Scott Insurance for all of your small business insurance coverage needs. We will work with you to ensure you have the right amount of protection, all at the right price to fit your budget.

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