Have you been looking for ways to reduce the amount you pay for contractors insurance in Long Island? If so, you’re not alone. Over the past few years, many contractors have seen their rates greatly increase. This has caused many of these businesses to consider canceling their contractors insurance. Some of them have even been forced to make cuts to other areas in order to keep up with their high insurance rates. If you’ve found yourself paying too much for Contractors Insurance, you should know there are several things that you can do to reduce your rates.
One thing that will reduce your contractors insurance rate is to increase the amount of your policy deductible. By increasing your deductible by a small amount, like one thousand dollars, you may be able to reduce the amount you pay for insurance by twenty percent. Also, if you pay your insurance premium in full, it can reduce the rates by an additional five percent. Many contractors have also been able to reduce costs by switching to another insurance carrier. This is especially true if they have been with the same provider for many years.
Another way you may be able to reduce the contractors insurance premium is to decrease the amount of coverage. For example, if you currently carry auto insurance on a fleet of cars you no longer owe money on, you may be able to reduce your rates by decreasing the amount of coverage on those vehicles. Some contractors have also been able to reduce their rates by implementing new safety programs, as well.
As you can see, there are several things you can do to reduce your contractors insurance in Long Island. If you think making some of these changes will reduce your rates, give your insurance agent a call today. However, if you think that you could reduce your contractors insurance cost by getting insurance with another company, . They will happily answer any questions that you have about their policies and provide you with a free quote so you can start saving right away.
