Business insurance policies are a necessity for any organisation – unfortunately, sometimes premises are broken into and claiming on an insurance policy must happen. Overall, there are many factors that can determine the likelihood that a business will be affected by crime. Putting in place effective security procedures will have a huge impact on keeping your business premises secure. Insurance can quite frequently become very expensive – here are our top 6 tips to reduce your business insurance premiums.
As with any substantial business purchase, time should be spent scoping the market in order to find the best possible deal. In an age of pricing comparison websites, this has never been easier. However, it’s important to make sure that your requirements aren’t compromised, so before embarking on your search make sure you determine exactly what coverage you will need.
Insurance companies tend to offer lower premiums if you choose to have a higher excess. The excess you pay is the amount that you are responsible for should an accident or other qualifying event occur. Make sure your excess is an amount that you could realistically pay if an accident was to happen.
If your business is situated over multiple sites, it might be a good idea to look to see the insurance policy can be bundled over one policy. Having one policy for multiple locations is a sure-fire way to reduce your business insurance premiums.
The rates you are offered by insurance companies depends on a number of factors:
A great way to reduce your risk of an attack and therefore reduce your business insurance premiums is to fit a security system to protect your premises. There are many security systems available, so it’s important to consider the pros and cons for each of them. CCTV systems are a great visual deterrent for opportunists and can be monitored remotely. However, CCTV systems don’t offer any physical security. Similarly, alarm systems are great for raising an alert but it’s sometimes too late to take action once they’ve been sounded.
Security shutters, however, provide both a visual deterrent and physically will protect a business premises from an attack. Our comprehensive range of security shutters means that we have a suitable system for your business needs. We have extensive experience in fitting security shutter systems, from retail premises to high value buildings. We’ve designed our shutters to come in a range of different colour schemes to suit any business’ preference and can be integrated into the building so they do not obstruct the overall look of the premises.
If you’re involved in a pre-payment plan, you’re probably paying for that privilege. Planning to pay off an insurance contract all at once is a way to reduce your business insurance premiums.
Once you’ve purchased a policy, a good practice to partake in annually is reviewing your contract. Before instantly renewing a policy, check that all coverage is still relevant and that your business is adequately covered despite any changes that you may have made.
For more information on how Obexion can help secure your business premises and reduce your business insurance premiums, please contact us on 0845 050 8705 or request a quote below.