Starting a business can be expensive and challenging. You need to protect your assets, pay your employees and suppliers, and secure your property—all while keeping your overhead as low as possible. Business insurance is a necessity, but choosing the right coverage can be baffling. Fortunately, there are a variety of business insurance options designed specifically for the needs of florists. The right policy can be key to protecting your business and your investments. Here are 4 ways you can save money on Business Insurance for Florists
Look for Discounts
When you’re trying to save money, one of the best ways to do it is by looking for discounts. Look for discounts that are available to small businesses and word-of-mouth referrals. Businesses of all sizes can take advantage of discounts. Some insurers offer a discount for businesses with multiple locations, while others may lower the rate if you insure your building and your business contents together or include a wider range of coverage in your policy. Discounts on your policy can be a great way to get more coverage without spending more money. Don’t forget about discounts like bundling different policies with the same company and getting a multi-policy discount.
Hire Employees Through a Service Instead
Hiring employees can be a big expense for your florist business. And, if you have to hire someone full-time, the costs may only increase. But, not all businesses are equipped to handle the added responsibility of employing people full-time. If this describes your business, then hiring an employee through a service might be right for you.
Choose the Right Coverage
Picking the right coverage is essential for your business. If you don’t have enough coverage, or if you choose the wrong coverage, you could be in a difficult position if something happens to your business. Before purchasing a policy, it’s important to carefully review what is covered and what isn’t. You should also consider how much protection you need for the worst-case scenario for your company and weigh that against how much money you want to spend each month on insurance premiums.
Ask for a Quote Often
One of the best ways to save money on your business insurance is to get a quote from at least 3 different insurers. You can use an online quote generator, or search for a local agent in your area that specializes in insurance for florists.
While this list only scratches the surface of what you can do to save money on business insurance for florists, it’s a good start. These are all relatively simple and straightforward ways to save money on your insurance costs. You can also ask your insurance agent about other cost-saving measures that may be available, like using a deductible rider or increasing your policy’s coverage limits.
It’s important for any business to have sufficient insurance coverage. With so many options out there, it should be easy to find the right policy at an affordable price. A little research can go a long way towards ensuring your business is protected and successful.