Why is there such a drastic difference in premium? While it is true that each company will have its own rate, a factor that could be just as important as the rate are the different coverages that your broker may request as well as the itemization of appropriate pieces of equipment, such as a central alarm, that will earn you discounts from the insurance companies.

At Bellido Insurance, before we go out to market to look for quotes, our brokers sit with you to discuss the specific circumstances and needs of your business. While it may take a bit longer, we believe that all of our questions allow us to make sure you have all the coverage you need to protect your large investment, while still finding ways to save you money with discounts that the insurance companies are more than happy to provide if you qualify.

Here are some of the many factors that can affect your premium:

  • How much property coverage do you need? This would include your computers, registers, furniture, refrigerators, freezers, and even your inventory or stock.
  • Did you know that if you did renovations when you first opened that all those items such as flooring, walk-in freezers, etc. can be covered at a lower rate than your regular stock? This is called “Tenants Improvements or Betterments” and using this separation can drastically reduce the cost of your insurance.
  • Security measures are another item that can provide discounts. Do you have a central station fire and burglar alarm? Simply provide us with the certificate from your vendor and your insurance premium is reduced.
  • Do you have a Refrigerator Maintenance Agreement or a back-up generator? This will reduce the cost of the Spoilage coverage on your policy.
  • Having interior and exterior cameras that continuously record video and are stored for at least six months is another way to further reduce your insurance premium as insurance companies will be able to use the video in your defense if there is an insurance claim.
  • Do you have an HR-reviewed or Attorney-reviewed Employee Manual? If so, provide us with a copy and the savings continue.

These are just a few of the many ways that exist to legitimately reduce your insurance premium. Allow us to visit you at your place of business so that we can perform a free, no obligations risk analysis of your supermarket and discuss ways to get you the best possible coverage at a price you can afford.

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