If you are considering purchasing commercial insurance, you should know about the most common claims to give you a better idea of your coverage. If you want protection from these issues, insure your business before it's too late.

Most Common Commercial Insurance Claims

1. Theft & Burglary

If someone breaks into a business, commercial insurance covers the costs associated with theft and burglary. Not only is the monetary value of the stolen items included, but also the damage done to the property during the incident.

2. Customer Injuries

If a customer injures themselves at your business, you will be on the hook for the customer's medical bills. In that scenario, the customer can file a commercial insurance claim.

3. Damage Caused by Weather

From excessive rain, to damage caused by freezing temperatures, business owners are highly susceptible to the weather. An estimate by the Federal Emergency Management Agency (FEMA), states that 40% of small businesses that close due to weather, never reopen their doors. You can help to mitigate this risk by investing in a commercial insurance policy with enough coverage for a disaster.

4. Product Liability

Certain types of businesses are liable if a product they sell malfunctions or results in an unsafe situation for the customer. For example, if you produce tires and they fail on the customer after purchase, resulting in a car accident, you could be liable. If your policy covers product liability, commercial insurance will save you considerable money.

5. Fire Damage

A fire can wipe out an entire business in minutes. Prepare for the worst with commercial insurance, which often covers the costs of getting the company running again after a fire.

If you are shopping for commercial insurance, contact Taake Insurance Agency in Columbia, IL. Since 1977, this family-owned, reliable agency has been providing cost-effective, comprehensive policies to residents and businesses throughout Monroe County and surrounding areas. Call (618) 281-7656 to schedule an appointment or visit their website for more information about their services.