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5 ways to reduce your insurance premiums

As professionals in the fire and security industry, we work with companies every day who need to meet their insurance requirements or exceed them. As a minimum, we provide the peace of mind that insurers require by being accredited to the highest levels by the approved trade bodies.

But how often do you review your insurance premiums, your risk and your systems? Here’s 5 tips to help you keep your costs down.

  1. Review your level of risk. If you are not managing this through a formal process already, we recommend monthly. Minimising your risk will help you manage unexpected situations and associated cost.
  2. Inform your insurer when changes take place. Premiums increase when claims are made, and if your level of risk to people or property is downplayed, or changes, you could be liable.
  3. Get professional advice on more than just your intruder and fire alarm. Upgrading your security to include access control, for example, can reduce your incidents as well as your premium.
  4. Shop around annually, or buy in bulk if you can.
  5. Pay your annual premium upfront to reduce the cost.

For advice and information about meeting your insurance obligations or systems that may reduce your premiums contact us.