Business Liability Risk: How to Keep your Premium Under Control

Posted on: June 26th, 2013 by SRSblogger

As a business or company owner, you don’t have a lot of spare time in your days. You’re busy managing your employees and planning to put your company on the best track for the future. Something like “business liability risk” was something you addressed when you first started, and then your mind was off to more important things.

Location affects liability premium

Location, location, location doesn’t just apply to real estate; it applies to your liability premium as well

Unfortunately, your business’s liability risk is an ever changing entity that varies based on a number of factors that you may or may not have thought of. We’ve come up with a list of these factors so you can be sure to make the best decision:

  • Location- areas with higher crime rates equal higher business liability
  • Type of structure- is your build newer older? Older buildings and certain building materials could mean higher premiums
  • Emergency access- being able to call 911, response time to your location, hydrant access and distance to medical facilities all play a role
  • Lease requirements- these aren’t option, and vary from location to location
  • Your neighbors- the types of businesses in your area can increase your business liability risk. Steer clear of establishments selling liquor, ones that produce fumes (dry cleaners) and business with high fire risk can bump up your business’s liability risk

There are other special factors such as your business being within a certain distance of water that requires a separate business liability policy. Your best bet is to get in touch with one of our experienced agents to go over your options.

You should also be sure to enforce safety at your business as much as possible. Many insurance companies have discounts for keeping safety up to certain levels. You can also look into alternative locations if your current place is a “hot spot.”

Your business deserves your full attention, and worrying about possible lawsuits against your business only distracts you. Get a little peace of mind by getting in Southern Risk Services to go over your business liability coverage today!




Terry Young, President

Call Now 256-442-3443 or Toll Free 877-222-UROK (8765)

For a FREE, No Obligation Phone Quote

Compliments of Terry Young, Southern Risk Services

3224 Rainbow Drive, Suite 2, Rainbow City, AL 35906

Phone: 256-442-3443 Fax: 256-442-9546


2236 Cahaba Valley Drive, Birmingham AL 35242


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