If you are a business owner or manager, you likely carry General Liability Insurance to protect your business. If you don’t already know, General Liability is a type of Business Insurance that is used to protect business owners from Bodily Injury or Property Damage claims that may arise from your business operations. Depending on the type of business, General Liability can be quite pricey. For this reason we have put together some tips regarding how to save money on your General Liability.

How to Save Money On Your General Liability Insurance – Package Your Policies

In many cases you can package your General Liability with other policies in order to obtain a multi-policy discount. The most common type of coverage to package with your General Liability is Business Personal Property. In most cases you can combine the business personal property with the General Liability into a single policy, often referred to as a Business Owners Policy, or BOP. In addition to the Business Personal Property, you can sometimes purchase Professional Liability or Workers Comp from the same carrier, which will apply a multi-policy discount to one or both policies.

How to Save Money On Your General Liability Insurance – Don’t Overestimate

As business owners ourselves, we understand that you may have high hopes for your business with regards to estimating gross receipts and payroll for the upcoming year. However, it is important to recognize that most General Liability policies’ premiums are based on either the gross receipts, payroll, or combination of the two. By overestimating these figures, you may be paying for a policy with increased premium. For this reason, we recommend providing an accurate and conservative estimate of your gross receipts and payroll when applying for general liability.

How to Save Money On Your General Liability Insurance – Proper Coverage

When people think about insurance costs, they often think about short term premium savings. While we agree this is important, it is imperative that you do not sacrifice
coverage in exchange for a slightly lower premium. You may save a bit in the short term, but if you have a major claim, you may end up losing a lot more money than you saved. If you are interested in saving money long term, do not skimp on coverages just to save a couple hundred dollars.

Would you like to save money on your General Liability? We can help you! Give our General Liability specialists a call at 925-297-4829.

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All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.