3 Ways to Lower Insurance Costs

Insurance costs are an important aspect to weigh when searching for the right plan for your business. Some plans include expensive and unnecessary add-ons which may provide a false sense of security. Alternatively, cheaper plans may leave your business at risk. Here are some tips for lowering your insurance costs while maintaining good-quality coverage. 


Always search for ways to save when comparing the price of insurance plans. It may be as simple as asking your insurance provider about available discounts. Small businesses, for example, often receive reductions because of their group or organization.

If you’ve been with the same provider for a long period of time, ask about the possibility of loyalty or referral discounts. Additionally, ask about safety discounts in exchange for increased security or training. You may even want to request a new quote to reflect any recent business changes.

Request Higher Deductibles

Deductibles establish how much you will pay for before your insurance policy kicks in. Higher deductibles reduce insurance premiums, but can significantly increase the amount of money you are liable for in the event of a claim.

In some cases, adjusting your deductible can create unwanted risk. Before making the switch, ensure you actually have enough funds if the time comes.

Prioritize Safety

Maintaining a safe environment and set of procedures in the workplace or on the job is the best way to reduce risk and lower insurance costs. Implement safety checks that protect your employees and your business, including:

  • Proper office training
  • Regular workshops/seminars
  • Industry-specific training/certification

At TCE, our goal is to provide quality insurance, coupled with unrivaled customer service and value. Our agents are eager to work with you one on one to put together the perfect combination of coverage. 
We work hard to negotiate the absolute best prices and eliminate the confusion and hassle associated with finding the right plan for your business insurance. Contact us today to request a quote.