Small Firms Save Big With Essential Insurance Quote
There are several types of insurance that small businesses should consider:
- General Liability Insurance: This covers legal fees and damages if your business is sued for injury or property damage.
- Property Insurance: Protects your business's physical assets, such as buildings and equipment, from risks like fire, theft, and natural disasters.
- Workers' Compensation Insurance: Required in most states, this covers medical expenses and lost wages for employees injured on the job.
- Professional Liability Insurance: Also known as errors and omissions insurance, this protects against claims of negligence or mistakes in professional services.
How Small Firms Save Big
One of the most effective ways small businesses can save on insurance is by shopping around and comparing quotes. Many insurance providers offer discounts to new customers or for bundling multiple policies together. Additionally, some insurers provide special rates for businesses with strong safety records or those that implement risk management practices.
According to the National Association of Insurance Commissioners, small businesses can save up to 20% by bundling policies1. Furthermore, the Insurance Information Institute notes that maintaining a good credit score can also reduce insurance premiums2.