AUTOMOBILE   HOMEOWNERS   LIFE & HEALTH   BUSINESS  

Business Financial Documents on DeskBusiness insurance is valuable to your company, but it can be a bit expensive. Most small- to medium-sized businesses work very hard to reduce any type of expenditure possible to ensure they have the capital to keep meeting their company's financial needs. Keeping this in mind, you may wonder about what you can do to lower your business insurance costs — as this can perhaps help you to keep more money on hand for your company's specific needs.

One way to lower costs is to raise your deductible. The insurance deductible is the amount of money you must pay out of pocket when you file a claim before your insurance company kicks in the rest. For example, if you have a $1,000 deductible on your policy and you file a claim for $4,500 worth of damage to your property, the insurance company can cut you a check for $3,500 and leave you responsible for the first $1,000 of that amount. The deductible is your share of the costs.

Keeping that in mind, realize that you should follow these rules about deductibles:
  • If you purchase a new business insurance policy, consider how much cash you routinely have on hand that you could use to pay for these types of claims should they arise. What is routinely available to you for use in an emergency situation?
  • Consider getting quotes for several types of policies with various coverage and deductible levels. Determine how much of a savings raising your deductible may offer.
If you can pay more in a deductible, do so. It will reduce how much you pay into your business insurance on a regular basis, helping you to save money overall. However, if you do not have funds on hand to pay for your business's emergency needs, do not raise your deductible — as you may find it hard to meet your financial obligations if you do.

The best route to take is to compare your options. Look at your business insurance quotes to determine how much coverage is right for you and how much of a deductible you can afford to maintain to meet any emergency need.

Get a quote today. Call Buschbach Insurance Agency at (708) 423-2350 for more information on Chicago IL business insurance.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Buschbach Insurance

Buschbach Insurance

 
  Our Company Services SEARCH OUR SITE
  Home
Who We Are
Privacy Policy
Make a Payment
Customer Service
Get A Quote
Insurance Types
Buschbach Insurance Agency, Inc.
5615 West 95th Street •  Oak Lawn, IL 60453
PH: (708) 423-2350 • FX: (708) 425-5077
GET SOCIAL WITH US

Facebook Twitter LinkedIn Google+
AAMGA
© Copyright 2017. All rights reserved.
Powered by Insurance Website Builder

Refer A Friend Testimonials Locations
How Can We Help You?
or call us at
708.423.2350