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Pay insurance premiums at most convenient time

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If you pay your property, auto or liability insurance policy annually and the renewal period ends during periods of low cash flow, change the annual renewal date. How? Terminate the policy early, and renew it at a time that works best for your business. Or sign a short-term policy that expires around the time you prefer to make payments for annual coverage. You typically won't incur a financial penalty, according to the Insurance Information Institute. But ask about possible coverage lapses and rate increases after early termination. Weigh any rate hikes against potential financial benefits of paying premiums on your schedule.

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