Yes. Decreasing business insurance cost is possible.
Making money costs money. Running a business isn’t easy. Lots of costs can impact how much it costs to run your business. Costs such as:
- New legislation
- Changing tax codes
- Forced increases to minimum wage
- Rising hydro prices
- USMCA aka United States-Mexico-Canada Agreement concerns (formerly known as NAFTA)
- Lack of available talent
- Rising material costs and other elements.
When you run a Canadian business, you’ve got lots to deal with and overcome to when it comes to managing costs.
All of these pressures combined with normal competition create a challenging environment and one in which business owners need to focus on costs and cost reductions.
Start saving by asking questions.
One area of focus can and should be looking at the cost of your commercial insurance.
Simply asking your team “How do we decrease our business insurance costs?” can lead to new ideas and opportunities. One idea may be to understand the average business insurance cost Canada and work with a new commercial insurance broker to get better value.
Whether you want to:
- Lower your small business insurance Toronto costs
- Looking for less expensive business insurance Alberta options, or
- About to renew your commercial insurance Vancouver
…we can help! Across Canada, ALIGNED insurance brokers are known for working collaboratively with business owners to get better value and options aligned.
It’s true. We work exclusively with top Canadian insurance companies. Our brokers know what’s available in your local marketplace.
We’re here to help you decrease your average business insurance cost in Canada. We’ll search the market and find you the best value and commercial insurance options. We’re ALIGNED.
Decrease your average business insurance cost Canada. Here’s how.
There are a number of simple, easy and practical answers that can help you lower your business insurance cost. You can read the top three ways below.
Start saving now. If you’re looking to decrease costs we encourage you to connect with an ALIGNED Insurance broker.
Across Canada, our brokers understand the specific needs of business owners and how to match risks with the best possible coverage options.
Our expert brokers are available to discuss the specifics of your business insurance needs. They can provide some practical and timely insights that you can use to decrease your Canadian business costs.
Top 3 ways to decrease your business insurance costs across Canada
ONE | Increase Deductibles
One of the most common ways to decrease commercial insurance costs is to increase deductibles or self-insured retentions.
Deductibles and self insured retentions are the portion of an insurance claim that the insured pays themselves. They are an important factor in the pricing of business insurance.
The higher the deductible or self insured retention, the less likely the insurance company will have to pay a claim and/or the less of a claim they will have to pay.
As a result of the decreased likelihood an insurer would have to pay a claim, and/or pay less for a claims, the rate calculated for your business insurance can be decreased. This adds up to decreasing your business insurance costs.
TWO | Decrease Coverage
Another practical response to “How do we decrease our business insurance costs?” is simply to buy less insurance.
There are several ways to do this, such as:
- Decreasing your overall limit
- Reducing or eliminating various extensions and sub limits in your insurance policy that you don’t want and/or value, or
- Just buying less commercial insurance to reduce business insurance costs
THREE | Speak with an ALIGNED Insurance Broker
We’re commercial insurance experts. We’re recognized Canadian business insurance brokers.
As business insurance experts, 100% of our commercial insurance brokers time is spent securing the best business insurance options for our clients across the country.
Our experience and expertise combined with our game changing 0% Commission/Fixed Fee option focuses on ensuring you get maximum value.
Expect value for the products and services we deliver. For these reasons and many more, we’re uniquely equipped to help business owners figure out how to decrease insurance costs and the get best coverage value.
We only work with top Canadian insurance companies. Our brokers know the marketplace. We’ll search the market and find you the best value and options in Toronto commercial insurance. We’re ALIGNED.
From Victoria, BC to Calgary, AB to Toronto, ON and everywhere in between, we know the average business insurance cost Canada. We know how to get you the best value, options and fit for your commercial insurance needs.
