Firms get insurance tips
Commercial insurance
8th October 2008
Companies wanting to insure their business have been given a range of tips on how to save money.
Firms are urged by insurancenewsnet.com to shop around for the best deal and to consider group rates to save money on their buildings insurance and other needs.
Businesses are also advised to consider opting for a higher excess for when they claim in order to secure cheaper premiums.
A package policy is another option which can be cheaper than a self-designed plan to cover a range of different areas, such as liability insurance and goods in transit cover.
Other ways to lower insurance premiums include the implementation of a loss reduction programme and risk management processes to reduce the chance of having to make a claim.
The news portal also recommended that firms work closely with their insurance broker or agent to make sure they can get the best deal.
Companies interested in improving their business processes may be interested in joining the Institute of Risk Management to aid training and professional development.
