• Before you get business insurance, have a check run on your credit. Insurance companies swear by studies that show people with problem credit are more likely to file insurance claims. That’s why those people have trouble getting coverage, and if they do, it’s at a much higher rate. There are three companies that provide a credit report for free: Equifax Credit Information Services; Experian and TransUnion Corp.

• Shop around; don’t just go with the first quote you receive without doing some comparing. Calling or e-mailing an insurer to request a quote is not a commitment to purchase insurance.

• Look into joining a trade association or business group, such as the Chamber of Commerce, which provides members the benefit of purchasing insurance at group rates.

• Even for businesses that are watching their pennies, the least expensive insurance doesn’t necessarily translate to the best deal. Without enough coverage, you could face financial disaster (or the end of your business) if something happens.

• Look into purchasing a business owner’s policy (BOP), which generally has a good rate. These policies generally cover standard needs, including property insurance, liability insurance and business income insurance, which protects the company from loss of revenue after a catastrophic event such as a fire or theft.

• Make sure your liability insurance (which covers damage or injuries suffered on your property) also covers damage or injuries caused by your employees while on a client’s or customer’s property, plus occasions when a company vehicle is involved in an accident.

• Do you live in an area that is subject to natural disasters, such as earthquakes, hurricanes or floods? You may consider extra insurance to cover that possibility, but first you should weigh the odds of that happening against the cost of the additional premium. For information on flood insurance, visit the National Flood Insurance Program.

• Do you rent the property where you do business? Tenant’s liability insurance offers you protection in that scenario.

• You never want to suffer a loss, but be prepared for one. Using a digital camera, take a photo inventory of everything in your business, including company vehicles, computers, furniture, fax machines, TVs, tools and anything else of value. Put the pictures on a CD and put it in a safe place. Or use free software provided by the Insurance Information Institute to store all the information online.

• Think safety. If you have a security system or sprinkler system installed, that will reduce your premium. Smoke detectors, deadbolt locks and fire extinguishers can also help.

• Talk to your suppliers about them assuming the risk for losses caused by their equipment or for any delays or defects on their part. This could significantly reduce the amount of insurance coverage you will need.

• Keep complete records of all your business policies, which will help you track benefits and will work in your favor when negotiating for lower premiums at the time you renew the policies.