Insurance Strategy

One insurance strategy which can save you thousands of dollars is to make sure you have catastrophic insurance coverage in all key areas of your business. This frees you from all the nickel & dime offers for coverage on items worth less than $5000, including cellphones, heavily depreciated vehicles, extended warranties, minor rental car coverage, low deductibles and others. Imagine you took all those premiums and extra payments and instead deposited the cash into a special bank account for ‘self-insuring’ on all these minor items. How much cash would be in that account today?