Understanding all of your insurance options can make a world of difference when it comes to how well your coverage handles the risks of your industry. What’s more, you may also be able to modify your plan in a few key ways that allow you to save money and still keep your assets protected. One way to achieve this is through a rent-a-captive program. Learn more about this to see if it is an effective solution for your insurance needs.
What To Know About Rent-a-Captive Options
The first thing to understand about rental captives is that the arrangement is a bit different than a standard program. Essentially, the capital used by your business can also be used by other parties that want to create a cell with the business without becoming an official partnership. This is a very general overview of the option and it is best to dive into the specifics in order to really understand what this type of arrangement is and how it might potentially benefit your business down the line. Points to think over can include:
- Practical coverage needs
- Costs of current insurance
- Advantages of owning vs. renting a plan
Learn More About Your Options
The idea of using a rent-a-captive insurance option is one that might be able to benefit your business in some significant ways. Take time to learn more about this program to see if it makes sense for your long-term goals.