Prevent your cheap commercial insurance costs from going up by enacting a plan to reduce the number of claims during the year. You've already done your research and got the most inexpensive policy in place, without the added expense of extra, unnecessary coverage. You're now saving tons in premium fees, thereby adding to your bottom line and maybe keeping you well within the black.
In order to maintain low insurance costs, advanced planning and prevention will be of utmost concern, as indicative of the following recommendations during the course of your business.
Theft Prevention
Claims for theft are usually met with magnificent regret. Basic security implementations throughout the workplace may have prevented such events from taking place. How much does it cost to install a bunch of durable locks on all outside doorways? What would it cost to insert proper night lighting focused on the entrances to your establishment? Should you install an alarm system that could possibly earn you even lower monthly insurance premiums? In maintaining cheap commercial insurance costs, prevention would have gone farther than you realize, had there been methods in place to stop would-be robbers.
Avoid Damaging Client Property
If a mistake is made by your company during a job for a client, a claim will most likely be filed to repair any incurred damages. To alleviate such a situation, keep a good line of communication going with your employees. Instruct them to be diligent and especially conscious of the client's expensive property.
For example, a job crew installing extra light fixtures in the office of an established dental center could be given a short, five minute orientation course to identify equipment to keep clear of. Now your workers will have enough information to be aware of what areas to steer clear of, and still accomplish the work order satisfactorily. That initial orientation briefing will be worth its weight in gold when no claims for client damages need to be filed.
Safety Checks
Millions of dollars worth of insurance claims are filed each year due to a general lack of safety precautions. Again, work with your employees to reduce the risk of injuries sustained during the work day. Little things like cleaning up spills as soon as possible, or keeping walking lanes free so people can stride through without having to contort themselves just to get from one area to another, will go a long way towards filing less claims.
Are hard hats being worn at all times? Do you secure sharp kitchen knives out of the way until they are needed? Have you posted warning signs which clearly identify hazardous workstations? Your cheap commercial insurance will continue to remain low-cost when injuries are avoided by executing basic common sense.
Cheap commercial insurance is a great way to save money without sacrificing quality of coverage. A key component is executing an efficient plan to prevent injury, theft, or client property damage, which are major factors towards keeping a lid on easily avoidable business expenses.
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