In the current economic climate, businesses need to keep careful control of overheads and make savings wherever possible. Insurance is no exception, and a leading insurer has published some advice which should help businesses balance risk with lower premiums.

Swinton Commercial has listed a number of ways businesses can reduce risk which should help to lower the premiums they pay for their commercial insurance. These include:

• Improving security with more locks, CCTV and alarms.
• Implementing new management systems to support health, safety and environmental policies.
• Drawing up a robust business continuity plan which outlines what the organisation would do in the event of a major incident.
• Maintaining a strong health and safety record.
• Increasing the excess paid on the insurance policy.
• Avoiding smaller unnecessary claims which may increase future premiums.

As always, it’s important to balance the steps taken to lower premiums with ensuring there’s sufficient cover in the event of a claim. And if you are facing a claim and find yourself in difficulties, then using a professional firm of loss assessors can help. To find out more, read about Morgan Clark’s business insurance claims services.