Business Improvements that Lower Insurance Premiums
New windows, safer floors and extra security can save you money with insurance
- Non-Slip Floors and Safe Foot Traffic: Whether it's old tiling, hardwood, or some other slippery floor, this insurance risk has become cliché if still problematic for businesses. Often, slippery floors are not about the flooring material but about poor finishing or sealant. The solution may be as simple as hiring a flooring contractor to re-apply a finishing product. It's also important to maintain easily navigated footpaths. An interior designer can help improve fire exit strategies and other interior design elements that create a safer, more productive work environment.
- Sidewalks and Parking Lots: On a similar note, you need to monitor your business's sidewalks for bumps and cracks that create tripping hazards. Parking lots can be littered with potholes that threaten to damage customer's vehicles. A concrete contractor can offer nifty repair solutions or, in more severe cases, redo your sidewalks and parking lots. You'll also want to make sure clearly marked signs identify any hazards such as oncoming traffic, blind spots, and confusing intersections.
- Indoor Air Quality: This category is wide-ranging but easily evaluated by a qualified HVAC contractor. Potential pollutants range from carpet allergens, Legionella bacteria in your air conditioning system, radon gas that enters the building through joints and plumbing lines, and dust and dozens of contaminants that can sit in your duct system.
- Extra Security: Not surprisingly, this is one of the most common improvements that can lead to lower business insurance. The potential for theft and vandalism is often high for businesses and, for property insurance specifically, one of the biggest sources of insurance claims. You may be able to contact a security company that will discuss potential discounts with your insurance company for you. It's also worth noting that better security at your place of business is one of the few improvements that may affect both your property and liability insurance risk.
- Roofing and Gutters: Next to people, Mother Nature is probably your next biggest concern. Roofing and gutters protect the rest of your business property and inventory. Although roofing is expensive to repair or replace, the potential for total property loss is too great to ignore, and your insurance company probably realizes this better than you do. If it's been a while since you've had the roof looked at, get a contractor to come out and complete an inspection sooner rather than later.
- Windows and Doors: Windows and doors represent two places that are susceptible to both vandalism and severe weather. Whether you need more secure hardware, better locks, shatterproof glass, superior storm doors, or some other window and door overhaul, take a look at these two areas even if you decide you don't need a high-tech security system.