Unearth how contractors cut insurance costs fast

Strategies to Cut Insurance Costs

One effective strategy for contractors to reduce insurance costs is by bundling policies. By combining general liability, workers' compensation, and commercial auto insurance into a single package, contractors can often secure discounts from insurers. This approach not only saves money but also simplifies policy management.

Another approach is to increase deductibles. Opting for a higher deductible can lower premium costs substantially. However, contractors must ensure they have sufficient funds to cover the deductible in the event of a claim. It's a balancing act between upfront savings and potential out-of-pocket expenses.