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Business InsuranceDo you want to reduce your Business Insurance costs, but avoid putting your company at risk by not having the right type and amount of insurance protection in place? If so, what should you do?

As a business owner, it is up to you to find the right balance of affordability with quality insurance protection. The good news is there are some steps you can take to effectively reduce your costs.
  1. If you haven't done so, put a workplace safety program in place. It can help reduce the risks associated with workers compensation losses. It can also help you to get a lower rate on Workers Compensation Insurance if you've had a few claims in recent years.
  2. If you employ drivers, ensure they are educated on safety protocols. Drivers who have points on their license will cost you significantly. Ensure your drivers are educated and trained to reduce risks associated with their tasks as well as work-related injuries.
  3. Take a closer look at your Business Insurance deductible. This is the amount you'll pay first on a claim before the insurer pays you. Ensure it remains affordable — but remember that the higher the deductible is, the lower your premium costs will be. Finding the right balance will be very important.
  4. Work to make your property safer. Aside from mitigating workers compensation losses, look for other areas that can help you save money. For example, having proper safety equipment in place and employees trained to operate fire extinguishers can help your company see a lower rate.
  5. Get a Business Owner Policy (BOP). This is one of the best ways to wrap many of your Business Insurance costs into one payment that tends to be lower and more affordable. You can also customize it to meet your unique needs.
Business Insurance is a must, but having too much or paying too much for it isn't a requirement. Take the time to reassess your insurance policy every year. Adjust your coverage as necessary and get quotes from other carriers to ensure you are paying the most affordable rate.

Get a quote today. Call Heritage Insurance Ltd at (800) 667-7640 for more information on Moose Jaw SK Business Insurance.

What other steps do you take to protect the safety of your business? Share your thoughts in the comments section below.
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Heritage Insurance Ltd Office
Heritage Insurance, Ltd.
100A Fairford Street West
Moose Jaw, SK S6H 1V3

Office Hours:
Mon - Fri 8:30AM - 6:00PM
Sat 9:00AM - 4:00PM

Phone: (306) 693-7640


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