Money Saving Strategies for Tampa Business Owners

Everyone knows that business insurance is certainly not a one-size-fits-all solution. It’s hard for many business owners to actually provide a targeted estimate of what kinds of specific coverage they need for any kind of complex operations. Insurance companies will often meet a businesses halfway in coming up with calculations that work, but a better and more detailed knowledge of what’s currently going on will help those who have to negotiate and sign onto new business insurance policies. 

Keeping Current On Operations

Businesses that have more than one location or more than one corporate vehicle may need to do more research in figuring out what’s in use when a policy is written. It may be that a previously used building is sitting empty or there are fewer drivers on the road than there used to be. Understanding these current needs will help write a policy that’s more effective and less bloated by extra premium costs.

Assess Operations for Likely Liabilities

Another way to get more proactive about writing business insurance is by taking a closer look at everything that happens on a daily basis and evaluating where there may be a coverage gap. For example, the business may not need more security insurance, if workers already operate in a controlled environment, but they may need more kinds of worker coverage for tougher or more dangerous jobs. Even seasonal or climate changes can make some jobs more difficult, with heat stress or seasonal storm risks creating business hazards. In addition, businesses have to look at the vast range of areas where lawsuits may be involved in order to get coverage that won’t leave them exposed if some legal challenge comes up.

Utilizing Government Regulations

Many business owners don’t like to think about OSHA rules or other regulations, but looking at these kinds of laws also provides relevant guidelines for writing business insurance. Of course, all business operations should be compliant. Along with compliance, though, business owners can look at the types of dangers that are covered in OSHA regulations in order to understand how a certain industry may need its own insurance coverage, not to use insurance as an alternative to safety, but again, to get more exact coverage that fits the needs of the business.

These strategies can help a business save money on insurance costs, while giving leaders a better idea of how business processes are working and whether they are as efficient as they should be.
For more information on determining hazards for Tampa business insurance purposes, call us at 813-933-6691.

Can Carpooling save on my car insurance?

Carpooling is a great way to save on gas as you share driving responsibilities with other people working in the same building or office complex as you. But there are some considerations you should make with regards to your auto insurance when you decide to carpool.

• Increase your liability coverage: With more people in your car, you’ve got more potential liabilities. Increasing your liability insurance coverage and adding an umbrella policy can help protect you from the personal financial liabilities that injured carpoolers could bring.
• Increase personal injury protection: Your personal injury protection (PIP) coverage provides medical and funeral expenses as well as lost wages to those injured in a car accident in your vehicle. Increasing this coverage will ensure that you have enough to cover all passengers.
• Reduce your miles driven: While you may be carpooling to save gas, you may inadvertently also be lowering your insurance bill. Tell your insurance company how many fewer miles you now drive to see if it affects your premiums. 

Read more about carpooling considerations. To increase your coverage or find out all the different factors that can affect your car insurance rates, give us a call at 866-933-6691 for a free Tampa car insurance quote.