Although assisted living facilities, skilled nursing and personal care homes are subject to rates higher obligation than most industries, there are many cost-effective options available. Applying these 5 simples, yet often overlooked, these tips will help to dramatically reduce your business insurance rates.
1) Consolidate your coverage and buy insurance as a "package" policy.
Business insurance operates similarly to a private home and car insurance in the sense that the company offers credit for packaging prices. From the standpoint of an underwriter is, the larger the account, the more flexible they can be at a price, so make sure you incorporate as many lines as possible coverage with one company. You can explore business insurance throughout Miami through various online sources.
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2) Work with an agency that specializes in your industry and have several markets.
One of the biggest mistakes of assisted living or personal care home owners can create work with an agent who only write through one company. There is also a senior care insurance companies only write through risk retention groups or their own master policy.
When working with an independent agent, manufacturers will also complete comparison of the level for you. If the company raises their tribe, the agent will only buy another company and determine which one will offer the best value.
3) Ask what policy discounts available.
Many insurance companies offer discounts to members of the association. From an underwriting perspective, associate members tend to be more involved in the industry, up to date on the rules and regulations, and attend education classes that are more sustainable than the average owner.