Business Insurance, cheaper than Guinness?

I have a client who's business insurance dropped from 18k to 11k upon renewal.

Now, it's important to note that most General Liability insurance is rated by 1000s in revenue. Let's say your industry has a rate of $10/1000s and you do $125,000 in gross sales. You're GL premium would be 10 x 125 = $1,250.

(This is GROSSLY simplified, as I didn't include taxes, credits, and lot's of other stuff...)

My client's revenue was stable over the last two years, so the drop in premium is due to a soft market, not a drop in the client's business.

This is related to Guinness prices, because I've also noted that all the pints I've bought in the last month were only $5, on average. I was annoyed at $6.50 to $8.

However, consider the rates of decrease, I'm beginning to wonder...

Now, don't fret on the Insurance Industry, they're still making plenty of money.

But, definitely, shop your business insurance this year...hard.