What are the most effective ways to lower business insurance premiums?

Review policies annually, compare quotes from multiple carriers, bundle coverages, consider a higher deductible, improve workplace safety, strengthen cybersecurity, reduce claims frequency, and work with an independent agent.

Does raising my deductible really reduce premiums?

Yes. A higher deductible usually lowers premiums, provided the deductible remains an amount your business can comfortably cover in the event of a claim.

Is bundling policies with one insurer cheaper?

Often. Insurers commonly discount when you combine general liability, property and business interruption—such as through a Business Owner’s Policy (BOP).

How often should I review my coverage?

At least once a year, or any time your operations change significantly, to remove outdated coverages and close potential gaps.

Can safety and cybersecurity improvements lower my rates?

Yes. Demonstrating robust safety practices and cyber controls can reduce incidents and claims, and some insurers offer related discounts.

Why work with an independent insurance agent?

Independent agents shop multiple carriers, identify discounts, and tailor coverage so you avoid overpaying for protections you don’t need.

Commercial Insurance Archives - Garrett Insurance

How to Lower Your Business Insurance Premiums Without Losing Coverage

Commercial Insurance

Business insurance is essential for protecting your company from unexpected risks, but the cost of premiums can be a concern for many owners. The good news is that there are practical ways to reduce insurance expenses without sacrificing the coverage your business needs. By being proactive and strategic, you can strike the right balance between […]

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The Importance of Employee Wellness Programs in Retention

Commercial Insurance

In today’s competitive job market, attracting and keeping top talent requires more than offering competitive salaries. Employees want to feel supported, valued, and cared for beyond their day-to-day tasks. One of the most effective ways companies can achieve this is through employee wellness programs. Wellness programs are more than perks, they’re a critical part of

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How Does Commercial Insurance Differ Across Industries?

Commercial Insurance

No two businesses are exactly alike, and neither are their risks. A retail store doesn’t face the same exposures as a construction company, and a tech startup has different concerns than a restaurant. That’s why commercial insurance policies vary widely depending on the industry. By tailoring coverage to specific risks, business owners can ensure they’re

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Why Every Business Needs a General Liability Insurance Policy

Commercial Insurance

Running a business comes with its share of risks. From customer injuries on your property to accidental damage at a job site, one unexpected event can result in legal fees, medical costs, or property repair expenses. Without the right insurance coverage, a single incident could jeopardize your financial future. That’s where general liability insurance comes

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Understanding Business Interruption Insurance: Is Your Business Covered for the Unexpected?

Commercial Insurance

It’s a fact of life for small businesses that they must occasionally consider worst-case scenarios. Years of hard work can be unexpectedly wiped out by natural disasters like fire and floods. Critical and sensitive information can be exposed or stolen by cyberattacks. In any of those events, shutting the business down for weeks or months

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Do I Need Insurance for My Home Office in My Household

Commercial Insurance

Rolling out of bed just before the start of work. No need for a suit, tie, dress, or skirt. No commute. These are just a few perks of working from your home office. But depending on what you do in your home office and how you do it, you might need to increase your renter’s

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Should I Put My Automobile in My Personal or Commercial Insurance?

Commercial Insurance

As a business owner, you know how complex the considerations surrounding insurance can be. Part of getting the most out of your insurance coverage is knowing how to balance your personal and commercial insurance. As a result, a common question many business owners have is whether to place your vehicle on your personal insurance policy

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How Are Commercial Property Insurance Rates Determined?

Commercial Insurance

As a business owner, you’re always looking for opportunities to trim costs to help improve your bottom line. You likely stay on top of the expenses that help keep your company in business, including commercial property insurance. While you may not be required to carry commercial insurance in your state, operating your business without it

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Do You Pay Federal Taxes on Insurance Payments?

Commercial Insurance

After an accident, your insurance provider may submit a reimbursement payment for the covered claim, and though that can certainly be helpful at that moment, you may wonder what it means for you when it comes to tax season and whether you’ll have to pay federal taxes on personal or commercial insurance payments. Generally, the

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