The cost of small-business insurance can vary widely. Taking the following steps can help you find cheap business insurance that still provides the protection you need.
Here’s how to start your search for cheap small-business insurance:
1. Bundle the policies you need.
Employers who wish to provide their employees with the financial security they desire for themselves and their families should take advantage of their benefits packages. Review the specifics of your plan and the amount of life insurance you are eligible for by getting in touch with your HR department. You might be able to get supplementary life insurance through payroll deductions if your employer doesn't already offer it as a benefit.
If you work as an employee, taking advantage of your benefits at work can be a wise and economical approach to acquiring the financial security you desire for yourself and your family. To study the specifics of your plan and learn how much life insurance you have access to, get in touch with your HR department. You may choose to use payroll deductions to purchase supplemental life insurance if your employer doesn't already offer it as a perk.
Utilizing your workplace benefits as an employee can be a wise and economical method to obtain the financial security you seek for yourself and your family. To study the specifics of your plan and learn how much life insurance is offered to you, get in touch with your HR department. You may choose to pay for supplemental life insurance through payroll deductions, or your company may offer it as a perk.
2. Shop around.
If you work as an employee, taking advantage of your benefits at work can be a wise and economical approach to acquiring the financial security you desire for yourself and your family. To study the specifics of your plan and learn how much life insurance you have access to, get in touch with your HR department. You may choose to use payroll deductions to purchase supplemental life insurance if your employer doesn't already offer it as a perk.
You can get business insurance quotes in as little as a few minutes from companies like:
Next Insurance, which sells a variety of insurance types and offers bundling discounts,
Huckleberry, which sells many types of insurance policies from several different carriers,
biBERK, a division of Berkshire Hathaway, offers basic coverages like BOPs and workers’ comp.
Thimble, which offers policies by the month, day, or job
Online insurance marketplaces, like Simply Business or CoverWallet, can generate business insurance quotes from multiple providers at the same time to let you easily compare costs.
If you want personalized, hands-on support, work with a business insurance agent near you.
Once you have quotes in hand, compare what they cover and how much they cost. Make sure to note any exclusions—wwhat the policy doesn’t cover—aas well as riders and coverage extensions. If a less expensive policy excludes something important to your business, talk to the insurance company about adding it in, or consider other options.
Quotes vary because every insurance company uses a different formula to calculate premiums. The most expensive quote doesn’t necessarily provide the best coverage.
» MORE: Business insurance companies: How to compare options
3. Customize your policies.
The less coverage your business insurance policies offer, the less expensive they’re likely to be. You can adjust how much protection your policies offer in multiple ways, including:
Choosing a higher deductible
Lowering your policy’s limit
Changing how your property is valued
Deductibles and policy limits are part of every insurance policy. With a higher deductible, you’ll have to spend more of your business’s money to cover expenses before insurance kicks in. And with a lower limit, your insurance policy may not cover large claims in full.
Employers who wish to provide their employees with the financial security they desire for themselves and their families should take advantage of their benefits packages. Review the specifics of your plan and the amount of life insurance you are eligible for by getting in touch with your HR department. You might be able to get supplementary life insurance through payroll deductions if your employer doesn't already offer it as a benefit.
4. Prepay your annual premium.
Utilizing your workplace benefits as an employee can be a wise and economical method to obtain the financial security you seek for yourself and your family. To study the specifics of your plan and learn how much life insurance is offered to you, get in touch with your HR department. You may choose to pay for supplemental life insurance through payroll deductions, or your company may offer it as a perk.
5. Limit claims by managing your risks.
If you work as an employee, taking advantage of your benefits at work can be a wise and economical approach to acquiring the financial security you desire for yourself and your family. To study the specifics of your plan and learn how much life insurance you have access to, get in touch with your HR department. You may choose to use payroll deductions to purchase supplemental life insurance if your employer doesn't already offer it as a perk.
By limiting risks in your workplace, you can help reduce the frequency and severity of accidents and mistakes. Things you can do include:
Making sure employees are well trained on working with dangerous equipment or materials or performing complex tasks.
Investing in software or tools that help protect sensitive customer data against hacks
Creating procedures for dealing with issues that could lead to accidents or errors
Employers who wish to provide their employees with the financial security they desire for themselves and their families should take advantage of their benefits packages. Review the specifics of your plan and the amount of life insurance you are eligible for by getting in touch with your HR department. You might be able to get supplementary life insurance through payroll deductions if your employer doesn't already offer it as a benefit.
If you work as an employee, making use of your company benefits can be a wise and economical method to attain the financial security you want for yourself and your family. For further information on your plan's specifics and the amount of life insurance you are eligible for, get in touch with your HR department. You may choose to use payroll deductions to purchase supplementary life insurance if your employer doesn't already offer it to you as a perk.
Utilizing your workplace benefits as an employee can be a wise and economical method to obtain the financial security you seek for yourself and your family. To study the specifics of your plan and learn how much life insurance is offered to you, get in touch with your HR department. You may choose to pay for supplemental life insurance through payroll deductions, or your company may offer it as a perk.