Cover Charge

Protection doesn't have to be pricey. The Insurance Information Institute offers these tips for saving money on insurance:

Keep in touch with your agent and insurance company, and keep them apprised of what you are doing to prevent losses. If you have a good safety record, you may be able to get your premium reduced.

If you have a backup location from which to run your business in the event of a disaster, you may be able to save money on business interruption insurance.

Ask about any discounts available, and do whatever you can to qualify for them.

Take a higher deductible on your policy.

Involve your employees in all loss prevention and safety programs.

Talk insurance with others in your industry to pick up price trends and other developments you can discuss with your agent.

This article was originally published in the February 1996 print edition of Entrepreneur with the headline: Cover Charge.