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Most Common Business Insurance Claims

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Small Business Insurance 101

Small business owners have many worries, including property damage, theft, and fire. While these are all serious concerns that should be addressed, there are many other threats which could cause serious damage to your business. Keep these top small business insurance concerns in mind to ensure that your business is as safe as possible.

  • Burglary and theft – 20 percent of all small business claims deal with burglary and theft, with an average cost of $8,000. To help avoid a burglary or theft claim, conduct background checks on all employees that you hire, and make sure that you have the right security devices installed, including security cameras, lighting, and gates.
  • Water and freezing damage – 15 percent of all small business claims deal with water damage, with an average cost of $17,000. Make sure that some of your key employees know where the water shut off valve is in case a pipe bursts.
  • Hail and wind damage – 15 percent of all small business claims deal with wind and hail damage, with an average cost of $26,000. Knowing the dangers that may affect your property can help you be better protected. Remove any threats, such as tall trees or unsecure items that could become projectiles.
  • Fire – 10 percent of all small business claims deal with fire, with an average cost of $35,000. Regularly test all fire detectors and suppression equipment throughout your company. At least twice a year, update your emergency preparedness and make sure all employees know the plan.

For all of your small business insurance needs, contact the insurance professionals at Cappuccino Insurance Agency in Westlake Village, California. As an independent insurance company, we will work with you to ensure that you have the coverage that you deserve, all at the right price to fit your budget.