Yes, most definitely. The risk factor is one of the biggest factors in deciding the premium and the coverage amount.

For example, a flower shop will have a way lower premium and coverage as compared to a construction company.

The best way to control the cost and lower the premium, is to lower your risk factor. Strict SOPs must be made and followed through. Safety must be the number one priority.

You cannot control the location or the industry you're in, but you can implement safety protocols to save everyone from physical and financial damage.