Protect Your Small Business from These Common Insurance Claims

Protect Your Business from Insurance Claims

Common insurance claims for small businesses help us understand what parts of your business are most at risk. The smaller your business, the bigger the financial impact could be if you are sued or experience a loss that is not covered by your insurance policy. To help you understand where you need to improve your business’s protection, check out these common insurance claims so you can review your business insurance in Reading, PA.

Fire

One thing that is consistently a top concern for businesses is fire – After all, it can happen anywhere and at any time. The average cost of a fire claim is $35,000, with 10 percent of small business owners being affected. Check your policy to see if the claims settlement is replacement cost to cover items lost in the fire or whether it’s actual cash value.

Reputational Harm

Claims that involve libel, slander, and violation of right of privacy are known as reputational harm and are the most expensive claims that businesses can experience. Luckily, you can prevent this from happening by requesting background checks on employees and vendors, having a professional look over your advertising copy, and having an emergency preparedness plan ready.

Visitor Injury or Damage

As soon as you open your doors to the public, it is your responsibility to keep them safe. If a visitor gets injured while on your premises, then that can lead to a bodily injury claims against your business. The most common form of bodily injury is slip and fall. There are ways to reduce the risk of this happening, such as having good lighting, ensuring all pathways are clear, placing floor mats inside doors, and ensuring all floors are dry.

To prevent the possibility of your company suffering an insurance claim, be sure to put these prevention tips into place. Contact Insurance Offices Ltd. today for reliable business insurance.

WE GIVE YOU SPECIAL ATTENTION

  • MOTORCYCLES

    Selecting your motorcycle is a big decision. Protecting your motorcycle is easy.

  • COLLECTORS

    We believe life’s better in a classic
    We have a feeling you do too.
    We have your Classic Vehicle covered.

  • WATERCRAFT

    We make sure that you enjoy your time on
    the water without having to worry about
    what could go wrong.

  • RECREATIONAL

    Your new RV comes with a responsibility
    to protect and secure it from the
    dangers of America’s roadways.

  • SNOWMOBILE

    We can provide different
    types of off road vehicle insurance
    to cover different types of vehicle needs.

  • TEENAGER

    It’s natural for new parents
    to worry about their newly licensed kids.
    We’re here to help you feel secure.

  • “There are several very angry co-workers of mine that are getting the run around with their agents and insurance carriers and are very jealous of how nice mine has been. You made everything go smoothly.”

    Colleen DeLongPA
  • “It really pays to have a local agent and not an internet insurance company that doesn’t even know you when you run into problems. Thank you for your excellent work.”

    Nancy JonesRE/MAX of Reading, Wyomissing, PA
  • “I prefer to keep my important business interactions local and with professionals I know and trust. The Insurance Offices have been there for me for almost 25 years and as a business professional myself, I value a company that truly makes ‘Insurance Simple.’ ”

    Frank J. Jroski, Jr. Crane Runway Division, Leesport, PA