Here are some of the things that can affect your business insurance rates.

As a business owner, you know how important it is to have the right commercial coverages in place. However, the insurance industry can be confusing to those unfamiliar with it. Many business owners fall into this category, and they tend to have many questions regarding their policies. One of the most common questions asked is how a business’s insurance premiums are determined. To clear things up, here are some of factors that will influence your insurance rates.


There are certain industries that carry more risk than others. For instance, the construction industry carries a higher risk for injury than businesses involved in the retail industry. Businesses involved in risky industries are going to have higher insurance rates. This because they are more likely to file an insurance claim. On the plus side, businesses involved in lower-risk industries will likely have access to cheaper insurance rates.


The location of your place of business will also affect your commercial insurance rates. If your business is located in an area prone to certain natural disasters, insurers will consider it at higher risk for sustaining damage. This increased risk will translate into high insurance costs. Additionally, if your business is located in an area with high crime rates, then your insurance premiums will also be higher due to increased risk for vandalism and break-in.

Claims History

Finally, your business’s claims history will also have an impact on future insurance rates. If your business has an extensive claims history, then your insurer will view your company as more likely to file claims in the future. This, in turn, will mean that you are subject to higher commercial insurance premiums.

Here are some of the factors that will influence your business’s insurance costs.  Do you have further questions regarding your commercial coverage?  Then do not hesitate to contact us at Scavone Insurance in White Plains, New York.  Our dedicated team is ready to get you covered today.

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