Can Your Company Save on Business Insurance in Alabama?

In today’s economy, just about every business is finding a way to pinch their pennies. Luckily, there are ways you can trim costs on your business insurance in Alabama without sacrificing the quality and extent of coverage.

How to Save on Business Insurance

It is important to remember that you should never cut coverage just to save money. Instead, you need to get creative and find ways to discount your policies and lower your premiums, while carrying the coverage your business needs when the unexpected happens. Some ways you can save include:

• Not buying more business insurance than necessary. Sometimes when a business first starts out, they sign up for every level of coverage. Check over your policy to see if you have coverage you do not need, such as a commercial auto policy when you do not even have company vehicles.
• Bundle your plans through the same insurance carrier. When you have all of your business insurance policies through the same company, they are likely to offer discounts and better rates for your premiums.
• Raise your deductibles, but keep them within comfortable levels. Sometimes just increasing deductibles by a few hundred dollars can lower your premiums significantly.
• Request discounts from your insurance carrier based on safety measures you have deployed in your business. For example, you hold monthly worker safety seminars, you have installed fire sprinkler systems and even have a business security system – these factors may make you eligible for discounts on insurance.
• Contact an insurance broker for assistance. Sometimes to find the best discounts, you need an experienced broker to do the right type of research. Your broker will assess your business liabilities and ensure you have the right level of coverage as well as compare different insurance carriers to find better rates.

The Nowell Agency can help you with your business insurance in Alabama. Our team will reevaluate your insurance portfolio to ensure you do not have unnecessary coverages and look for potential discounts your business may be eligible to receive. Most importantly, we will make sure your small business has the right level of coverage to protect your assets and people.

Call us at 877.813.9568 to learn more about business insurance in Alabama or request a quote for coverage online.