Insurance is expensive – especially for your business. So how can you minimize your New Jersey business insurance costs? Well sometimes talking about lowering your premium may results in losing all types of coverages you actually need for your business. Before sacrificing the amount of protection a business carries just to save some money, consider the alternatives within.
Review your coverage:
- Look at your policy. Can you increase the deductibles to lower your premium?
- Are you carrying extra physical damage coverage on commercial vehicles that aren’t worth it?
- Are you insuring items that you could probably replace out of pocket? Are there pieces of equipment that are insured when they could be replaced from operating funds without submitting a claim?
Review your exposures:
- Could you reduce the premium by installing an alarm system or fire protection system? Would these premium savings offset the cost of the system?
- Could you implement safety programs that would reduce the cost or make the insurance company more interested in providing coverage? For example: driver safety programs, back to work programs,safety training in proper use of equipment and job functions.
Identify your insurance goals:
- Do you need an insurance company that can provide loss control services?
- Do you need an insurance company that can provide claim-handling services for your Workers Compensation insurance?
- Do you need an insurance company that will allow you to make payments by phone or on-line 24/7?
- Do you need an insurance company that has a local agent/representative that can assist you in your insurance solutions?
We shouldn’t have to tell you that price isn’t the only issue when dealing with New Jersey business insurance. Failing to review and identify your coverage, exposure, and goals within could cost you more in the long run. It’s always best to discuss your situation with a New Jersey Business insurance professional and make the choice that works for you.
For Insurance in New Jersey, American Insurance Services Agency is
your Insurance Agent of choice. We offer affordable NJ auto, business
and home insurance coverage and policies.Contact us today online or by calling (732) 680-4444