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No matter what your profession, professional liability insurance is a good investment. Just like car or home insurance, it might be something you never use. But it can save your business from financial ruin if that one person tries to sue you. But sometimes it is difficult to keep paying premiums for something you rarely use. So, while you are being wise and ensuring that you have professional liability insurance, be wise and use these three tips to save on your premiums as well.

  1. Just as you probably have a high deductible on your car and home insurance, set a high deductible on your professional liability insurance. Work with your agent to find that point of best return for you. That point where the amount of deductible meets the amount of savings you get from premiums. If doubling the deductible only saves you $5 a year, it probably isn't worth it. But, if doubling the deductible saves you $100 a year, it might be worth it. As a great independent insurance agent we can help you determine that amount.

  2. Always use industry best practices. Implement them around the office, train your staff and write a blog where you discuss the best practices you use. These best practices are based on research and are great talking points with customers.

  3. Document everything. Use archived email, keep notes from customers etc. If you have a gut feeling that a customer might be a bit difficult, document everything in writing. Whether you are in a job where you detail cars or work in a medical office, documentation is important and can help you save on professional liability insurance. How? If you have documentation, the odds of a suit ever going to court are far less. That, in turn, will keep your premiums lower.

Your agent can help you determine the right coverage for your needs. Learn how to save today. Call us at 713-227-7283 for more information on Houston business insurance.

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