If you own a company, your personal assets could be at risk if a customer takes legal action against it. However, it may be possible to protect your property by purchasing small business insurance in Joliet. Let’s take a look at some of the ways that you can keep the cost of a policy within your budget.
Increase the Deductible
The deductible is the portion of a claim that you are required to pay. Let’s say that a judge ordered your company to pay $10,000 to a customer who was hurt after falling on a slippery store floor. If your policy had a deductible of $1,000, you would be liable for that amount while the insurance company would pay the other $9,000. By increasing the deductible to $2,000, your small business insurance provider incurs a smaller loss. Therefore, you will likely be charged a lower monthly premium.
Shop Around for Better Rates
It is always a good idea to comparison shop before you purchase any type of insurance policy. If you currently have small business insurance in Joliet, the policy can be canceled at any time if you find a better deal with another company. It may also be a good idea to ask your current provider at least once a year if it offers any discounts or can do anything else to lower your premium.
When you need quality affordable insurance in a timely manner, visit
InsuredASAP.com to learn more about how Insured ASAP Insurance Agency can meet your needs.
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