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Year In Review

Why examining your deductibles may lead to significant deductions.

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This story appears in the March 1999 issue of Entrepreneur. Subscribe »

When's the last time you looked over your company's insurance policies? You should review your deductibles annually, advises Tricia O'Connor, CPA and president of Total Service Accounting, a Denver accounting firm that also provides business consulting.

O'Connor estimates that 95 percent of her clients aren't familiar with their insurance deductibles or don't know how they can affect the cost of their insurance policies until she shows them how they can save money by paying more attention. "Most clients never ask about deductibles and end up with whatever the agent thinks is appropriate," says O'Connor. "The trouble is, your agent isn't necessarily interested in saving you money on your premiums."

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