How to Lower Insurance Cost for Your Fiber Optic Splicing Business

Nate Jones, CPCU, ARM, CLCS, AU
2 days ago
2 min read

Running a fiber optic splicing business involves unique risks, from working at heights to handling sensitive fiber cables. Insurance is essential, but premiums can be expensive. Fortunately, there are ways to reduce costs without compromising coverage.

Here’s a guide to lowering insurance costs while keeping your fiber optic business fully protected.

1. Bundle Policies for Discounts

Many insurers offer savings when multiple coverages are purchased together. Common bundles for fiber optic businesses include:

Bundling policies simplifies administration and often lowers total premiums compared to buying policies separately.

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2. Maintain a Clean Claims History

Insurance premiums are heavily influenced by your claims history. Contractors with few or no claims over the past few years typically receive lower rates.

Strategies to maintain a clean claims history include:

Implementing strict safety protocols
Training employees on proper splicing and handling techniques
Regularly inspecting vehicles and tools to avoid accidents

3. Raise Deductibles Strategically

A higher deductible reduces monthly premiums. For fiber optic businesses, consider:

Setting deductibles for general liability and property coverage
Ensuring your business can cover the deductible if a claim arises

This strategy lowers insurance costs while keeping comprehensive coverage intact.

4. Limit Optional Add-Ons You Don’t Need

Optional endorsements can increase premiums. Evaluate each add-on carefully and remove coverage you don’t need. For example:

Cyber liability coverage may not be necessary if you don’t store sensitive client data
Certain auto endorsements may be unnecessary for single-vehicle operations

Reviewing optional coverage ensures you only pay for what’s essential.