There are several practical ways to help manage and reduce your insurance premiums without compromising the protection your business needs. Some of these include:

• Increase your excess – Choosing a higher excess means you agree to cover a larger share of any claim. This can help lower the cost of your premium.
• Strengthen your risk management – Having clear policies, procedures, training and systems in place to reduce the chance of a claim can work in your favour when insurers assess your risk.
• Avoid frequent small claims – While insurance is there to protect you, making multiple low-value claims over time can lead to higher premiums. Where possible, it may be worth weighing the benefits of claiming or managing a smaller loss yourself.
• Consolidate your coverage – Placing multiple policies with one insurer can sometimes lead to package discounts or improved terms.

It is also a good idea to review your cover regularly. You may find you are still paying for insurance that no longer suits your business, or that a different policy structure could provide better value.

At Webber Insurance, we are here to help you review your options and work with you on strategies to keep your premiums as competitive as possible, while ensuring you have the right protection in place.

If you would like to explore ways to manage your premiums or review your cover, contact our team.