Burglary or Theft
Regardless of your type of business, you run into the risk of theft or break-in. Your brick and mortar is the home to your equipment and day-to-day operation. Whether it be damaged or a total loss of equipment, your business insurance is there to back you.
Weather Related Damage
Weather-related damage to your building could put your business out for several weeks. Imagine your fleet of trucks are flooded and it takes them out of commission for several weeks. Would your business be able to survive a week without a couple of trucks? Weather-related damage is an unforeseen accident that we cannot prevent. Several small businesses don’t have the means to open back up after a major natural disaster. Don’t get left out in the rain.
The good old “slip on a banana peel” comes to mind here. But what if a customer actually got injured while in your store? This is a major liability that you could be responsible for. It’s best not to risk any small claims of injury if customers frequently come to your business. Accident insurance can provide peace of mind.
Fire claims are no joke. Many businesses underestimate the destructiveness a fire can have on their business. Fires are capable of causing a substantial amount of property damage in a short period of time, potentially devastating a small business that doesn’t have insurance coverage.
Most CommonMost CostlyBurglary & Theft (20%)Reputational Harm ($50,000)Water and Freezing Damage (15%)Vehicle Accident 3 ($45,000)Wind and Hail Damage 6 (15%)Fire($35,000)Fire (10%)Product Liability 4 ($35,000)Customer Slip and Fall(10%)Customer Injury or Damage 5($30,000)Customer Injury and Damage(Less than 5%)Wind and Hail Damage($26,000)Product Liability(Less than 5 percent)Customer Slip and Fall ($20,000)Struck by Object (Less than 5 percent)Water and Freezing Damage ($17,000)Reputational Harm (Less than 5 percent)Struck by Object ($10,000)Vehicle Accident (Less than 5 percent)Burglary and Theft ($8,000)
Source: Insurance Journal
For small business owners, it is best to make sure you are covered. Damage and loss are never anything to face. But facing them alone can be a lot worse. Talk with our specialized Al Boenker commercial agent today to find out what Business and Commercial Insurance fits your needs.