Insurance can be a large fixed cost for any tire dealer. Periodic reviews of insurance needs and coverage, however, can help reign in costs.

Follow these tips in your next insurance check up to make sure your business is covered and getting the best bang for its buck:

Check your deductible levels.  
Higher deductibles save money on insurance premiums, but are double-edged swords. In certain situations it may make sense to take a lower premium so that you can move more quickly to resolve any problems.

Review your policy: Update, upgrade and eliminate.
If you haven’t done so in a while, get your agent to thoroughly review all your insurance policies. Focus on what is most important to keep you in business, and avoid overbuying insurance. Also have an agent look at any new insurance products that could supplement or replace those you have.

Get new quotes.
When your policy periods end, get quotes from several agents who represent different insurance brands. Keep your options and negotiating room open. Get all quotes in writing, and get all quotes against the exact same coverage parameters, including deductible levels.

Don’t accept rate increases at face value.
If you’re a long-time customer who has filed few claims over the years, you may be able to leverage that and get a rollback.

Good agents will make insurance less confusing, make sure you understand the risks you face in your business, recommend coverage to protect you against those risks, and update you on changes in laws and new developments in coverage. If your agent doesn’t do these things, it might be time to find a new agent.