We know that, as a business, you want to increase your return on investment (ROI). So, you have researched marketing techniques for your business, and you have probably analyzed your business to lower most of the costs. But, have you analyzed your insurance to be sure you are maintaining a low risk profile? The lower your risk profile, the lower your commercial insurance premiums.
Fortunately, lowering your commercial insurance premiums can be done with a few modifications. Simply follow the tips below and discuss how they can translate into savings with your independent insurance agent. 
- Smoke detectors: Wherever possible, use hard-wired smoke detectors. These cannot be disabled and have a battery backup. That way, the insurance company knows the smoke detectors will be operational at all times. Operational smoke detectors make your building safer and lower your risk profile.
- Carbon monoxide: Install carbon monoxide detectors, even if not required by law. By doing this, you indicate to the insurance company that you are interested in saving lives, and you can again lower your risk profile.
- Inspections: Have regularly scheduled inspections of lighting, elevators, walkways, stairs etc. Include a schedule of repairs that must be made. This indicates to the insurance company that you are probably a lower risk for liability since you keep your building safe.
- Fires: Regularly check fire extinguishers, fire doors and the sprinkler system. Post evacuation maps around the building and plan biannual fire drills. Just let the fire department and a few people in charge know you are having the drill so others don't panic.
- Children: If children are going to be in the building, be sure windows and railings are safe. Children are curious and will lean out of windows and poke their heads through railings. You may consider hiring a child-proofing business to make any necessary changes for safety purposes.
Your agent may have other suggestions to improve the safety of your building, and therefore lower your risk profile. Don’t forget to ask if there’s anything else you can do to reduce your commercial insurance premiums.
Our agents are happy to assist you. Call us for more information on business insurance.