One of the most common causes of high business insurance costs is liability claims. A liability claim occurs when someone suffers a loss you or your business cause. They file a claim with your insurance company for the losses they face. The goal of business insurance is to ensure you have financial protection for these instances. Yet, taking steps to reduce how frequently you file such claims can help save you money. What can you do to make your risks more manageable?
What Are Your Claims? 
Most companies will have a few liability claims throughout their operating life. For example, trip and fall claims can occur in just about any business. You may suffer claims from defective products sold or from food that makes an individual ill. Your business insurance will cover these claims. However, you should take some time to look for any instances of patterns here.
Slip and Fall Claims
You may be able to minimize these liability risks with better oversight. Are people slipping on the floor due to poor mopping skills? Is there a lack of wet floor signs? Perhaps the parking lot is a risk because of uneven pavement. Fix these problems if possible. It might save you money in the long term. It also helps you keep employees safe.
Defective Product Claims
Things like selling a defective product can be hard to prevent. Yet, proper training methods can help. Teach your employees to recognize when something might have damage. Another step is to consider a quality assurance process. Implementing one can help cut the risk your products will cause financial loss to another person.
Food-related Illness
If you operate a restaurant or food business, focus on training and safety procedures. It may be possible to reduce these risks with simple improvements of food safety standards. Turn to your local health department for oversight. Some will offer an inspection to determine where risk areas may be. While this may be worrisome to some, it can help you tackle concerns especially if they occur frequently.
Business insurance can help you cover these risks when they happen. Yet, to keep your costs low, it is best to simply work harder at minimizing liability claims. Your company will often see insurance rates fall over time if you take these steps. Your insurer may even offer some advice on areas of concern. Speak to your agent. Determine where your biggest risks and largest claims are. Find ways to minimize those specific areas. It will save you money as a result.