7 Ways to Save on Business Property Insurance in Florida

7 Ways to Save on Business Property Insurance in Florida

When you have a physical business location, you need to make sure that you have property insurance in Florida. This is going to be an expense that you have to incur. The good news is that there are several ways for you to save on an insurance policy.

Add Security

It is a good idea to add a security system to your business property. This can be as extensive as you can afford, complete with CCTV cameras. You want to be sure that the system is monitored 24/7. This way, if there is an incident, the alarm will sound and officials will be notified. The bonus is that many insurance companies will provide you with a savings if you have a security system because it limits the likelihood of anyone actually being able to break into your property.

Train Employees

You will want to train your employees so that they are safe. If you have incidents on your property, such as someone tripping, it could end up driving up the cost of your business insurance. When you have a solid training program in place, you can reduce incidents.

Lock up Inventory

Inventory, whether it is high value or not, should be locked up when it’s not in use. Also, if you have a warehouse, it should be locked up when there are no employees present. This can minimize any kind of theft that would cause you to file a claim with insurance.

Change Locks Frequently

You will want to get in the habit of changing locks frequently. This can ensure that locks are in good condition. Plus, if you gave keys to employees that are no longer with you, it can reduce them from coming back in and bypassing security measures that you have in place. Even if you have collected the keys, you can never be confident that they didn’t make copies. It’s best to err on the side of caution.

Compare Rates

Compare rates for business property insurance in Florida. Not all companies have the same rates, nor do they calculate in the same way. Some companies will deem certain aspects of your property higher risk than others. It only takes a few minutes to get quotes from companies, so you should get several. This will make it easier for you to compare and see who has the best pricing.

Place the Policy in a Package

Business insurance packages are available. These can save you a significant amount of money because you are getting multiple policies from a single insurance company. The various policies that can be placed in a package are based upon the needs of your business. They can include property insurance, liability insurance, workers compensation, commercial auto insurance, and more.

Having all of your policies from one company can also make it easier to stay organized.

Work with an Agent

Finally, you have the ability to work with an agent. An independent insurance agent does not work for one specific insurance company. Instead, they work with an entire portfolio of them. This works to your benefit because you can tap into their knowledge and learn about the best insurance companies that will write policies in Florida for your business property.