How to Keep Your Liability Insurance Premiums Low
In today’s economical climate it is necessary to keep costs down on all outgoings wherever possible. There are a number of things you can do to keep your liability insurance premiums low, here are a few ideas to consider:
Lower risk means lower premiums – follow good practise within your company and try to lower any kind of risk. For example Health and Safety procedures, if your company follows strict procedures to ensure a safe working environment this will not only lower the risk of a claim being made but also lower your premiums. Encourage employees to have regular health checkups and take regular holidays to decrease the risk of having to claim; claiming on the insurance will increase your premiums for the year after.
Increase your security and decrease your premiums – the easiest way to reduce your business liability insurance premiums is to increase the security for your business. There are two sides to this, the first being the physical assets of your business. Keep your machinery safe by installing alarm systems, hire a security guard to keep an eye on your premises, use stronger locks and anything else you can do to ensure your equipment, machinery, stock and premises cannot be tampered with or damaged. Secondly it is imperative to protect your files and data, customers’ details, invoices and receipts, electronically and hard copies. Password protected online systems can be used to protect your computer files and data. Use data storage companies for your hard copy files as they guarantee security from theft, fire and damage, and you do not need to store them on site.
The right documentation can make a world of difference – ensure your machinery and equipment is safe and up to the official standards to reduce the risk of injury to your employees or customers. Having the correct documentation such as proof of certificates and licenses is a mandatory requirement by many Insurers.
Diana Wright
http://www.articlesbase.com/insurance-articles/how-to-keep-your-liability-insurance-premiums-low-728347.html
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personal finace help please asap?
1. If you are told that your gross pay is $1,500 a month, you should expect to have _____ as the amount on your paycheck.(Points : 2)
more than $1,500
exactly $1,500
less than $1,500
2. Debit cards _____ operate in much the same way as major credit cards.(Points : 2)
do
do not
3. If you lower your deductible amount, then the cost of your premium will _____ .(Points : 2)
increase
stay about the same
decrease
4. The type of auto insurance that pays you if a tree falls on your car is called _____ coverage.(Points : 2)
collision
liability
comprehensive
5. If you are injured while working at your job, you are covered by _____.(Points : 2)
your health insurance
your liability insurance
the company’s workers’ compensation insurance
6. Interest that you earn on a savings account is _____ .(Points : 2)
the money that you deposit that continues to grow as long as the account is active
money that financial institutions pay you for the use of your money
the balance in your savings account at the end of a certain period
the money you must pay in order to keep a savings account active
7. Sales tax is a fee charged by your _____ government on the majority of items that you buy.(Points : 2)
federal
local
state
local or state
8. You should ______ write a date in the future on a check and you should ______write any part of your check in pen.(Points : 2)
always, always
always, never
never, always
never; never
9. A really bad recession can become ________.(Points : 2)
inflation
a depression
deflation
10. The part of your insurance that protects you against costs of damage that you cause to someone else is called your _____ coverage.(Points : 2)
liability
premium
coinsurance
comprehensive
1 Less than
2 Do Not
3 Increase is my best guess
4 comprehensive
5 The company’s worker insurance or health insurance defiantly not liability though.
6 money that financial institutions pay you for the use of your money
7 state or local and state though I’m sure its not just local
8 never, always
9 a depression
10 Liability
The ones I put only 1 answer I’m pretty sure of the ones with 2 on them it could be either 1 but I’m not completely sure which
Good luck!
References :
I took Personal Finance in high school