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ask EXPERTS Q: A: I just got my latest rates from my insurance rep, and my rates are skyrocketing. What can I do to get them down? — Mike, Ohio Your insurance sticker shock is probably happening to contrac- tors across the country as they open up their latest statements. But you need insurance to run a proper business, especially in the home services trades, so what can you do? Here are a few quick suggestions: • Do Some Shopping – Th e easiest thing you can do is to get on the phone and start calling around. Get some competitive quotes from oth- BETTER - organization Hackney Bins and Shelving • Infi nitely Adjustable Shelves on Vertical Tracks • Plastic Parts Bins with Adjustable Dividers & Snap-on Label Holders • Long Shelves for Pipe and Ladders • Custom Layouts for Plumbing, HVAC, and Electrical CALL DERRECK OR RANDY TOLL FREE 1-877-238-7278 er insurers for the policy you need to protect your company. If you find one that saves you money for the same level of coverage, don’t be afraid to make the switch. • Boost Your Share – The deductible is essentially the portion of the risk that you’re willing to take off the backs of the insurance company. When you agree to take on more of the risk, they reward you with lower rates, so see if raising your deductible is a strategy that makes sense in your company. • Classify Correctly – Th e rates for a contracting company will be de- termined by the classifi cations the insurer puts you in based on the types of work that you do. Talk to your insurance company and make sure that they have you classifi ed in the proper section. For example, if you used to do a lot of work that required ladders and heights but you no longer do that work, you’re likely still classifi ed there and paying more than you need to. Make sure you’re insured for the type of work that you actually perform. Finding a lower rate for your insurance is possible, but it will like- ly require some leg work on your part. However, every dollar that you save in insurance costs is another dollar that will wind up on your bottomline, so finding the best deal on the proper coverage is a valuable exercise for every business owner. — Terry Nicholson Terry Nicholson is group president of Client Services at Clockwork Home Services and president of Success Group International®. Do you have a question about how to run your business more effectively, improve your operations, manage your employees, get the most out of your training, jump-start your marketing or maximize your sales success? Ask The Experts at Clockwork Home Services® Attention: The Successful Contractor, 50 Central Ave., Ste. 920, Sarasota, FL 34236; 941-366-9592 (fax); 23 . Just e-mail, mail, or fax your question to: Ask The Experts, Clockwork Home Services, BEST - combination Hackney “Performer” Supertruck • All Aluminum “Remountable” Body • 3-Step Walk-in Rear Access • Aluminum Pull-out Ramp • Modern Profi le with Smooth Side Panels for Impact Graphics • Hackney Bin & Shelving System INCLUDED CALL LINDA OR KATHY TOLL FREE 1-800-763-0700

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