How to Save Money on Commercial Insurance

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(No Transcript)
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How to Save Money on Commercial Insurance
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Get a Free Quote

• Overpaying on your commercial insurance premium
  can have serious consequences on your businesss
  financial health. To avoid this pitfall, here are
  some tips on how to save money on commercial
  insurance in New Jersey.

Before you talk to an agent, make sure you have a
handle on what youre looking for. If you dont
know how much coverage is enough, or if your
broker doesnt ask pertinent questions about your
businesss size and structure, then no one is
getting what they need out of a commercial
insurance quote. A good agent can only do so much
if he or she doesnt know exactly what kind of
business needs what kind of insurance coverage.
So before you start shopping around for policies,
be sure that its clear in your mind how big your
business is and how big it wants to be. Be aware
of which kinds of businesses tend to get hit with
a lot more liability claims than others will
yours fit that bill?
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Shop Around

• Make sure youre not overpaying for your
  commercial insurance coverage by shopping around.
  Price-compare quotes from different companies to
  find the best rate possible, and see if there are
  any discount programs you qualify for. Even small
  price differences can save you hundreds of
  dollars a year. For example, say youre spending
  5,000 a year on commercial insurance switching
  carriers could save as much as 100 a month or
  1,200 a yearfor an initial investment of only
  20 minutes! The time spent saving is well worth
  it in comparison to just writing one more check.
  Plus, it never hurts to negotiate many providers
  will work with you if you let them know that
  other vendors offered a better deal. Once again,
  using our previous example, lets say after
  shopping around you notice one insurer still
  offers premium service at a lower rate than
  othersit never hurts to reach out and ask for
  that even lower price! Whether they can match
  their competitors offer may be dependent on how
  willing they are to help (and even how
  polite/persistent you are). Asking nicely wont
  cost anything but five minutes of your time so
  dont be afraid to negotiate! Remember those
  savings add up fast!

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Educate Yourself About your Insurance Options

• You can avoid a headache later by taking some
  time upfront to educate yourself about your
  insurance options. The best way to do that is by
  speaking with an expert in commercial insurance
  NJ who can help you figure out which kinds of
  insurance you might need based on what your
  business does and how much it makes in revenue
  each year. Some companies may even be able to
  assist you in filling out applications for
  different types of coverage, making it easier for
  you down the road. Not all businesses have enough
  volume or transactions to require commercial
  insurance, but its always worth checking into
  these types of policies so that youre not
  missing out on potential savings that could make
  a big difference for your business as it grows.

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Look for Discounts and Promotions

• As a commercial insurance customer, youre
  entitled to discounts and promotions if you do
  business with your carrier for a long time. If
  you use the same insurance agent, he or she can
  take advantage of incentives from carriers and
  pass them along to you. Be sure to ask about any
  new discounts or promotions that might be
  available in your area. They can save you
  hundreds of dollars each yearwhich adds up over
  time. The trick is not waiting until renewal ask
  now! As a bonus, its always a good idea to get
  multiple quotes when shopping for commercial
  insurance in NJ. Just make sure that the
  companies issuing those quotes are reputable
  before buying coverage from them.

File Accurately
When youre shopping for commercial insurance, be
sure you file all of your claims correctly. Keep
in mind that different types of business
insurance have different filing requirements.
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Work with an Agent, Broker or Company you Trust

• If youre not sure about what kind of information
  needs to be submitted, talk with your agent or
  read your policy carefully. Improperly filing a
  claim can result in a decreased payout and a
  negative impact on your future premiums. Its
  also important to make sure you submit claims
  quickly generally speaking, having a deductible
  means that it takes longer for an insurer to pay
  out than it would if there wasnt one.

When it comes to insurance, there is a lot of
money at stake. It can be difficult to get all
your questions answered promptly if you dont
feel comfortable with your agent, broker, or
company. This may not seem like much of an issue
initially but when a claim needs to be filed in a
hurry and something isnt clear from your
policies, a trust could make all the difference
between paying and not paying for damages. We
highly recommend getting more than one quote for
any kind of insurance, which will help you find a
competitive rate and give you options if there
are any problems down the road.
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Contact Us

• Address 70 East Sunrise Highway Suite 500 Valley
  Stream, New York 11581
• Email wpamph_at_gmail.com
• Phone [phone]
• Website https//wpinsurances.com
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  n-commercial-insurance/