Commercial Insurance

Are Your Commercial Insurance Costs Too High?

Most commercial insurance experts are predicting lower rates for most businesses across the United States. Commercial insurance buyers should anticipate lower rates and wider choice in coverage terms at upcoming renewals as insurance pricing softness accelerates in most lines.

Commercial or business insurance rate reductions are due to a softening in the market, reduced catastrophic losses, and continued competition among the leading insurers.

Rate vs. Premium

Rate is the cost of insurance per exposure unit, such as revenue or payroll. The premium is based on a formula of rate times exposure. Your rate could go down, but if your revenues are up it could affect a flat premium.

Now is the time to contact us to help you review your risk, design your program and market your commercial business with our top rated market. Your commercial program should include:

Commercial liability

Commercial auto

Property

Workers’ compensation

Cyber liability

Directors & officers & professional liability

Employment liability

Bonds and dishonesty

Umbrella or excess

Put Insurance On Your Restaurants Menu

Put Insurance On Your Restaurants Menu

If you are in search of Commercial Insurance for your restaurant, you may find it difficult to find competitive rates and coverage. We shop your insurance regularly, which enables us to provide the best possible combination of coverage, price, and service.  We offer competitive premiums and quality coverage.

The best strategy for lowering your premium is to find the carriers that specialize in the restaurant industry. These companies usually offer broad coverage and are competitive in pricing.  As an independent agent, we search the market for you, finding the best possible combination of price, coverage, and service. Remember, not all insurance companies are created equal. The more experienced and specialized the agent is, the better the chance you have of finding the best premium and coverage.

Other ways to reduce your restaurant premiums:

Combine all your insurance under a “package.”

Don’t nickel-and-dime your insurance company. If you file claims for every little thing, your rates may increase. Insurance is meant to cover unexpected large losses.

Consider your deductibles. By increasing your deductible, you may save money.

One of the best forms of protection is routine maintenance. A well-maintained property is less likely to have mechanical failures or losses.

Offer safety training to employees.

Start a safety committee to help reduce work comp losses.

Place all your insurance with one insurance company.

Seek advice from a qualified independent agent like Partners Insurance Services.

Investigate premium-reduction strategies such as inspections and security systems.

At least once a year, review your coverage for duplications or unnecessary coverage.

We are experts in the hospitality industry, and specifically restaurants. We have access to many qualified highly rated insurance companies. Call us today.