Insurance premiums are increasing. Cutting limits is not the answer.
How to Reduce Cost Strategically
- Improve Driver Quality
- Clean MVR hiring standards
- Annual MVR reviews
- Defensive driving training
- Implement Chemical Handling Procedures
- Written application protocols
- Wind restriction standards
- PPE requirements
- Spill response documentation
- Review Workers Comp Classifications
- Ensure payroll classifications are accurate.
- Ensure payroll classifications are accurate.
- Increase Deductibles Strategically
- Adjust deductibles rather than lowering liability limits.
- Adjust deductibles rather than lowering liability limits.
- Bundle Coverage Strategically
- Placing GL, auto, and umbrella with one carrier may create pricing efficiencies.
Recommended Baseline Structure
$1M General Liability
Verified Pollution Coverage
$1M CSL Auto
Accurate Workers Comp
Consider umbrella
For a renewal strategy review, contact Prosperity North Advisors to schedule a consultation.