Insurance utilization

It's true that claims history determines future premiums. A lower loss rate will give better premiums.

Strive to ensure a safe, well-maintained workplace. This will keep machinery and vehicles operating safely, thus reducing service calls and business interruption. Such maintenance also reduces safety issues, injuries and associated health or Worker Compensation claims.

Yet if a breakdown, storm, fire, theft, accident or other malady befalls your company, your insurance policy is your parachute designed to soften the fall and help get the business back up and running. Consult your insurance agent or other trusted advisor about a cost-benefit analysis of whether or when to make a claim.