Business insurance premiums represented a full $730 billion globally in revenue during 2017. In essence, insurance runs the world.

It also ensures that you can conduct business safely and legally in the United States. But it can be horribly expensive if you buy it from the wrong people.

How do you know that you’re getting a good deal? It’s easier than you might think. We’re going to show you how it’s done. Let’s save some money.

1. Make Comparisons

Not all insurance companies are equal. Some might seem like a cheap option, but they’re cheap in more than one way.

For example, your premium might be low and your deductible, but they might not cover certain legal fees. You’ll think you’re safe until you get sued. But it was all there in the fine print.

The best way to avoid this is by comparing your insurance companies. You could open each company and each policy in separate browsers windows and flip through them like an old file folder. This would be time-consuming and a waste of your time.

Instead, start by looking at these affordable insurance options. Comparison sites have done all the work for you.

What aspects of business insurance should you consider? What does it all mean?

Deductible: This is the amount you have to pay out of pocket before the insurance company begins covering things promised in the policy. A higher deductible means a lower monthly premium. Just ask yourself if you could afford the deductible at any point in time. If the answer is “yes” then you’re good.

Carrier Ratings: These ratings come from independent ratings agencies. You can quickly rule out insurance companies by simply looking at these ratings and dropping the low-rated companies.

Policy Limits: This is the opposite of deductible. It’s the maximum amount the insurance company will cover after the deductible. If it’s low, this should mean a lower premium. But you have to consider how much you might have to pay in a lawsuit or settlement.

Inclusions and Exclusions: Insurance companies will tell you what they cover. Some will even specifically make clear what they don’t cover. Be sure what you need covered is covered.

2. Hunt for Bundles

Bundles can save you money. Why? Because when you buy multiple policies with one business, you’re putting money exclusively into one business. In their gratefulness or their wisdom, they discount you for being so loyal.

Often you can find what we call a business owner’s policy. It’s not one single policy. It’s a bundle.

This bundle often includes general liability insurance, commercial property insurance, and sometimes business interruption insurance. This kind of bundle is more affordable than buying these policies individually and with different insurance companies.

And finding a bundle with business interruption insurance for cheap means you’ll be covered if you need to recover from a major interruption. These could include a fire or the foreclosure of your rented space.

It’s All About Managing Risk

While Han Solo may not want to know the odds, you should. Knowing the odds will help you know what risks you can accept and what risks you should insure.

This is how you keep your insurance affordable.