Don't pay to insure against minor losses, but don't ignore real perils just because coverage carries hefty premiums.
You can lower your premiums with a higher deductible. May agents recommend higher deductibles on property insurance and putting the money you save toward additional liability coverage.
How much can you afford for a deductible or uninsured risk? Look at your cash flow. If you can pay for a loss out of cash on hand, consider not insuring it.
You can also save money on insurance by obtaining it through a trade group or an association. Many associations offer insurance tailored to your industry needs -- everything from disability and health to liability and property coverage.
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