Are Your Commercial Insurance Rates Climbing? Simple Ways to Save Big

15 January 2016 by Elijah Steward

If you feel that your commercial property insurance costs are climbing and you want to make the rates more affordable, there are some discounts you could be missing out on. These discounts are eligible when you do things to improve the safety of the building and the safety of the people inside the building.

Since you're liable for the people that work for you and the community where your business is, commercial insurance rates can be high. Here are a few things you want to look into to see if you can earn a discount.

Update or Add New Security Measures

Does the building have an updated security system? If not, adding one can reduce your insurance rates and prevent problems like vandalism and theft. Get a system that has video surveillance, wireless notifications, locks at all entrances, and all the latest features you can get. These features help protect you to ensure no one gets inside the building after hours, and to prevent people from coming in during work hours.

Get Impact Resistant Roofing

Impact resistant roofing will protect the building and people and property inside it from damages during high winds and storms, helping to reduce your chances of a potential claim and earning you a discount. Not only do you want roofing that's impact resistant, but roofing that's also fire resistant and impermeable to water so you don't have to worry about the roof catching fire or having water problems.

Require Safety Training

Don't just have your managers take classes on how to be safe around the shop or workplace and classes that teach first aid and CPR. Have everyone that works at the company take these courses to reduce the chances of an injury or to help someone if there is a potential health problem on the property. You may also want to add extra wash stations, fire extinguishers and other safety items around the building.

Have the insurance agent come to your property when they give you a quote to see if there is anything else you can change to save even more on your rate. Shopping around with different policy providers and comparing the costs between deductibles can help you figure out if you're already paying too much for the rates. Contact local insurance companies, such as Hale & Associates Inc., when considering your options. If you know that your rates aren't affordable and insurance is costing too much, consider these tips.

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