5 Must Know Tips for Saving Money with Your Business Insurance

To get the best price for the insurance coverage you need to protect your business consider these 5 simple steps.

Purchase a “package” policy.

Arguably, this is the biggest tip for saving – Bundle your coverages! Much like any other purchase you make, buying quantity or bundling will allow you to enjoy deep discounts. It just makes sense to also have your Commercial General Liability (CGL) and commercial property insurance from the same insurer.

Opt for a higher deductible.

Quite often, while shopping for and comparing insurance, most people will select lower deductibles so their own expenses are minimal at the time of a claim for a disaster or any other unwelcome situations. Keep in mind that the higher your deductible is, the lower the cost of your insurance premium. It could make a lot of sense to choose a higher deductible, but keep in mind not to set the deductible so high that it will be a financial burden for you to pay the deductible if you happen to need to make a claim. A good balance is to set the deductible higher, but bank some of the savings each month to take care of just such an event.

Ask your broker or agent if they can recommend any loss prevention procedures you can implement in your business, that will lower your business insurance premiums.

By installing alarms, sprinklers and implementing a workplace safety program, your insurance provider may offer you a lower premium since you are taking a proactive approach in decreasing the likelihood of submitting a claim.

Inquire about Discounts.

There is a good chance your insurer is offering discounts on business insurance, but you may never know if you don’t ask. It’s quite plausible that membership in any one of a variety of professional associations will make you eligible for a discount that you never knew existed. You have to ask. Finally, keeping in mind the first tip on bundling, it’s wise to ask for a discount if you are planning on expanding your business which would include more than one property insured.

Do some shopping around.

Contrary to popular belief, business insurance premiums across insurance companies aren’t the same! Consider this: what you are paying now with your current insurer could be hundreds more, or hundreds less with another company. In actual fact, it could be said that there are no two business insurance policies exactly alike.

There are savings to be had on your business insurance policy. By following some of the tips outlined above, you should be able to improve your bottom line – perhaps even quite substantially.

Earn Money From A Premium Rate Number – An Easy Way To Become Rich

This article will explain how you can make money by using premium rate number services. The article gives tips on how to promote your services fast and start generating revenues quickly. Premium Rate number services have been used by service operators to offer specialized services to consumers and generate revenues. In the United Kingdom there are many service providers who offer premium rate number services and charge per minute for the services used. The service operators can charge £1.50 per minute for the services used.

Now let us try to understand how we can earn money from Premium Rate Number services. You need to decide on the kind of service that you want to offer to your customers. It can be anything from horoscopes to horse racing tips and from joke lines to adult recorded stories. The other services that can be offered to customers include technical support for hardware and software, virtual chat lines and many more.

It is important that you verify the contents of your services before offering , otherwise there is a chance that ICSTIS may initiate an investigation against you, if they feel your content violates any of the regulations that governs premium rate services.

Now the next question that we may have is what is the earning potential from premium rate services. The earning potential is substantial. You can earn £120 per day if you offer quality services. If you have a recorded story line which pays you £0.85 per day with an average holding time of 6.5 minutes you can make £5.5 per call. On an average if the service gets 30 calls per day the earning potential stands at £165.75. Annually the earning potential stands at £60000. This is by no means a small amount considering the time and effort that needs to be given to the business.

You can also make money from Premium Rate SMS service. The earning potential is even more in SMS services because once customer asks for a service, messages can be sent at intervals until there is a stop message received from the customer. If the services are charged at £0.60 per message and 6 messages are sent out to one customer then the earning potential stands at £3.60 per day per customer.

If you have a subscriber base of 30 customers the revenue generated can be £108 per day. Annually the revenue works out to approximately £39000. This may look less in comparison with the Premium Rate Call service statistics mentioned above but the popularity of messaging services can generate more revenues than call services.

You need to advertise your services effectively to build a successful Premium Rate Number business and print media has been the proven medium. The advertisements are costly but do give more return on the investments made. Websites are also proving to be an effective medium to advertise services.

They are cost effective and if you advertise your services in a high traffic website, chances are that you can make your Premium Rate services popular in a short time. A thorough market research is mandatory before you start Premium Rate Number services. Otherwise your business can die quickly like many others that have perished.

4 Guaranteed Money Saving Tips to Reduce Business Insurance Cost

Streamlining your operations to save on business cost is one thing. But scrimping on expenses that can save you and your business from future losses is another. If you are thinking of not renewing your business insurance policy with Winston-Salem agency for the sake of saving a few hundred dollars, we encourage you to rethink your budget and expenditures this year. There are ways you can save on your business insurance that a Winston-Salem insurance agency has issued you last year.

Every business and business owner needs business insurance; but that doesn’t mean that everything that you have in your business can and must be insured. Here are premium-lowering tips you can implement before you release that check.

Reduce your insurance coverage. Many entrepreneurs give up on their business insurance issued by a Winston-Salem insurance company without taking of ways to lowering their premium. One of the very first things a business owner can look into is how to reduce their insurance coverage.

Remember, you don’t have to insure everything that has to do with your business. If you did, chances are good that you can’t afford to stay in business. Review and prune. Think of ways that can increase your deductibles to lower your insurance rate. Only insure business assets that have real and present value to your business.

Lower your liability risk. Talk to your agent or broker. Ask what you can do to lower your business insurance cost. There measures that you, as a business owner, can do to lower your liability and reduce risks that your business faces everyday. For instance, offering risky products or locating to a rundown office makes your business “risky” to the eyes of your insurer. Drastically lower your insurance premium by making your business safer to your stakeholders, customers, and your employees.

Outsource “risky” tasks. If your business is a one risky business, you may want to outsource these tasks to lower your premium. An experienced business insurance agent in Winston-Salem can provide you with a list of independent contractors that can do these hazardous tasks for you. In this setting, the risk is transferred to the contractor, making your business relatively safer in the eyes of your insurer.

Consider packages. Many business insurance companies in Winston-Salem offer bundled or packaged business plans to business owners who are on a shoestring budget. Check on what these insurers can offer and avail of what will fit your business model.

But don’t choose a plan just because it’s cheap; remember, there are plenty of ways to lower the premium down. Never scrimp on your insurance coverage. Make an inventory of your business assets and determine a package that can cover it all.