1. Reduce your risk. Not surprisingly, insurance companies show their favoritism for "safe" companies by offering lower premiums.
2. Invite competition. Online quote requests return multiple options to compare almost instantaneously. Or shop around for a broker or agent. In the end, however, go with just one with the best package — service plus policy — for the best price.
3. Evaluate unnecessary coverage. Apart from the basic business owners policy (BOP) not all companies need specialty protection. Calculate what losses your company can sustain outside of these categories and consider dropping coverage specific to those risks, if possible.
4. Increase your deductible. Your bottom line could sustain more than the standard, which lowers premiums.
5. Share your risks in an insurance pool. Check if associations offer insurance for members like you.

Action Steps
The best contacts and resources to help you get it done

Tips & Tactics
Helpful advice for making the most of this Guide

• State insurance pools are different from other insurance pools. They offer no deals for high-risk companies. Keep a clean track record and reduce your risk to stay clear of this coverage, which is provided for organizations that no insurer will take on.
• Whether online or in person, get at least three insurance quotes.
• Review your policy yearly to make sure it still reflects the protection your business needs.