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How to Cut Insurance Costs by Self-Insuring

Oct 31, 2019 · To understand whether or not self-insurance is a good idea for you, it helps to understand first what insurance is all about. There are many tricks or tips you can use to save money on your insurance premiums to help you understand how to look at your personal situation in order to decide if self-insurance is a good idea for you or not.…

Protecting Your Business With a Self-Insured Retention

Jan 14, 2019 · One self-insurance mechanism used by some businesses is a self-insured retention.A self-insured retention (SIR) can be used in conjunction with a general liability, auto liability, or workers compensation policy. It can be an effective way to save money on insurance premiums. This article will explain how it works.…

Self-Insurance: Definition & How It Works

May 20, 2017 · However, self-insurance does come with a high level of risk and liability. We want to preface this article by stating that self-insurance is generally NOT the best choice for small business owners. It can be a huge administrative burden, and there …Author: Christy Hopkins…

Self Insurance Options for Small Businesses

Jun 25, 2019 · All businesses retain some risks. These include risks excluded by insurance policies and those retained by the company voluntarily. Risk retention is often referred to as self-insurance.Large companies have more financial wherewithal to absorb losses than small firms so they have a broader range of options for self-insuring risks.…

Self-insure

Self-insure is a risk management technique in which a company or individual sets aside a pool of money to be used to remedy an unexpected loss.…

What Does It Mean to Self-Insure and Should I Do It?

Aug 14, 2019 · The term "self-insure" can be confusing.When someone says that you can always self-insure, it does not necessarily mean going out and getting independent health insurance.Self-insuring means that you save up enough money to cover the related and possible expenses that may occur in the event that you suffer an unexpected loss, injury, or illness.…

Self-Insurance

Self-insurance involves setting aside your own money to pay for a possible loss instead of purchasing insurance and expecting an insurance company to reimburse you. With self-insurance, you pay ...…

NJ Small Business Insurance InsureYourCompany.com

Insure Your Company. Tell Us About Your Business. Let's get to know each other better so we can help you grow! Protecting Your Dream. As a business owner—or a prospective business owner—your company is unique to you. So are your needs for insurance coverage. If you know what you need or need help figuring it out, we have the experience to ...…

How to Self-Insure Your Business - Financial Highway

Insurance costs are high. There's no getting around it. Operating a business is a hit or miss proposition anyway, and when you add the ever increasing cost of business insurance, a lot of small companies can't keep up. They are looking for relief, and some are turning to self-insurance. Following are a few tips on how to self-insure your business.…