Knowing your options can be very useful when it comes to selecting the most practical insurance plan to meet the needs of your business. If you run a larger corporation that has stable cash flow, then policy requirements for you will differ greatly from a startup that struggles with capital management. For example, you might find that a DRP is a good fit for your type of business. Take a moment to consider the ins and outs of this type of reimbursement policy and see how you can cater your insurance to the exact demands of your business.
Understanding the Basics
A deductible reimbursement policy is structured in a way that allows larger businesses more flexibility when it comes to handling the traditional expenses related with insurance policies. From deductibles to collateral, there are many areas that a DRP can improve upon. It can be an especially useful option if you are already in an insurance arrangement where you are using a cell captive. Though terms will differ depending on your provider, they are typically designed to follow the same terms as a traditional deductible policy. Advantages of this type of structure can include:
- More control over risk management
- Reduced expenses overall
- Better use of assets
Review Your Options
There are several key points to keep in mind when it comes to reimbursement options associated with your insurance coverage. Review the basics and you should be able to determine which solution is right for your company’s needs.