Risky Business

How to save 15% off the cost of your insurance

By Shelly Benisch, CIC with Commercial Insurance Solutions (CIS)
Posted Sep 23rd 2013 8:29AM


Hi Everyone,

The expenses in operating your Professional Expediter business are similar to any other small business owner. Saving money on any expense increases your profit and the bottom line. 

What’s one way to cut your cost?   Most insurance companies offer a significant discount for paying the premium in full versus making payments over time.   How much of a discount?   Close to 15%.

Smart business owners know that cutting 15% on the yearly premium of any portion of their insurance is a smart move.

Many of our clients that take advantage of this discount tell us they’re not getting anywhere close to that return from their investments or savings accounts. So it makes good business sense to pay a premium in full if you have the available capital.

What if you’re not feeling flush at the moment?   Consider charging the paid in full premium on your credit card.    If the rate on the credit card is low, you’re still better off than letting the insurance company keep the 15%.

What if you're new to Expediting?  Consider a 6 month policy to start, cutting the initial expense in half... and still take advantage of the 15% discount.  (Not a good idea once you're established, fyi.)

Be sure to ask your agent if there are any charges or fees should you unexpectedly need to cancel the policy mid-term.  CIS does not work with any insurers that have “surrender charges” or “administration fees” should you cancel, but there are a number of companies that do.

Established and experienced Expediters will have funds set aside for their small business. 

Make sure the insurance you’re purchasing is reputable and will provide the coverage and service you expect…then put the 15% back in your pocket.

Warm Regards,