discount business insurance

Reduced premiums based on safety and claims are available at RSI Insurance for restaurants, bars, and other food service businesses.

Quality insurance companies who are market leaders in the restaurant and bar insurance industry will offer free classes and training to their insured employees as well as provide discounts on premiums for having passed safety training and having a history with no claims. Some insurance companies will reduce premiums by 15-20% for this basic safety training.

Whether an insurer's program structure is first dollar, self-insured or a dividend program, loss experience heavily impacts insurance premium pricing. Good claims experience leads to insurance carrier competition for insurance placement of your business. Safety programs that reduce injuries and claims can translate into cost savings on insurance premiums.

Insurance underwriters want profitable business, and claims experience drives premium pricing. For instance, when risk-based pricing a company’s workers’ compensation insurance premium, underwriters use an experience modification in determining the cost. The experience modification is based on the frequency and cost of claims. Improving your claims experience lowers your experience modification, which then lowers your premium. All corporations differ from the average, where 50 percent are better and 50 percent are worse. Being on the good side of average risk gets insurers to aggressively price your business, which leads to reduced operating expenses for insurance and improves a company's overall bottom line.

There are other reasons companies can benefit from having a safer work environment. There are hidden business costs, commonly known as indirect and uninsurable costs, associated with claims. Indirect claim expenses are such things as investigation, lost production time, administrative time, worker replacement, deductibles and equipment loss. Insurance generally does not cover  all of these things. Thus, having a good safety program in place can reflect a company’s character and culture.

If your restaurant, tavern, bar or lounge  is located in New York, New Jersey, or Connecticut, and you would like to save some money, contact RSI Insurance for a free insurance quote now.

We invite you to take some time while you are visiting us online at RSI Insurance to explore our website. You will find a number of helpful and informative pages concerning the insurance coverage we have available.

Then give us a call at 914-332-1700; email us at ira@rsi-insurance.com: or complete the online application by clicking the quote button. The quote is free and carries no obligation of any type.

Before you sign your lease, we will, free of charge, review your insurance requirements and offer a no charge critique of those clauses!