{"id":3822,"date":"2017-03-21T15:58:41","date_gmt":"2017-03-21T19:58:41","guid":{"rendered":"https:\/\/www.insureyourcompany.com\/?p=3822"},"modified":"2017-03-21T15:58:41","modified_gmt":"2017-03-21T19:58:41","slug":"5-ways-it-consultants-can-save-money-on-insurance","status":"publish","type":"post","link":"https:\/\/insureyourcompany.com\/blog\/5-ways-it-consultants-can-save-money-on-insurance\/","title":{"rendered":"5 Ways IT Consultants Can Save Money On Insurance"},"content":{"rendered":"

As an IT consultant, it\u2019s hard to predict the myriad things that could go wrong in your line of work. Whether it\u2019s a mistake on an employee\u2019s part or a client who is simply unhappy or unwilling to pay for contracted work, without insurance, you could be sued for hundreds of thousands of dollars, maybe even $1 million or more\u2014even if you’ve done nothing wrong.<\/p>\n

Naturally, you\u2019ll want to get the most cost-effective insurance coverage possible while making sure that there aren\u2019t any gaps that could put your business in jeopardy.<\/p>\n

Here are just a few ways IT consultants like you can save money on business insurance.<\/p>\n

1. Bundle your insurance<\/h2>\n

You can save money by purchasing a Business Owner’s Policy (BOP)<\/a>. This will allow you to have both general liability insurance, which can pay for property damage and injuries to third parties, and property insurance, which will provide money to repair or replace your equipment and office equipment.<\/p>\n

Both policies are necessary for your financial protection, so doesn’t it make sense to save money by bundling them together?<\/p>\n

2. Raise your deductible to lower your premium<\/h2>\n

When you do this, although the money you pay out-of-pocket if you have a claim will be more, your premium will be lower. This may seem logical, but consider what your higher financial responsibility might be in case of litigation. Regardless, liability claims<\/a> likely don’t happen that often in your profession.<\/p>\n

3. Upgrade the security in your building<\/h2>\n

This might be one money-saving feature you may not think of. Some improvements could include installing shatter-resistant windows, security cameras, and an alarm system.<\/p>\n

This could save money by deterring theft, which could greatly reduce your property insurance claims. Before doing this, however, tell your insurance agent what your plans are first. He or she can tell you if the improvements qualify you for a discount.<\/p>\n

4. Make sure you only purchase insurance you need<\/h2>\n

In most cases, a few policies are a necessity:<\/p>\n