The 5 Most Common Insurance Claims for Small Business

If you’re running a small business, it’s essential to have the right amount of insurance to protect you from the unexpected. 

There are many different types of insurance claims you might need to make for your business. If your business is damaged, it can be a stressful time for you…

Knowing what to expect can help alleviate the stress and confusion and get your business back in order sooner. 

Here’s all you need to know about the top 5 most common insurance claims for small businesses and how to reduce the risks for your business. 

 

1. Theft And Burglary

Theft and burglaries can either be committed by insiders (like dishonest employees) or outsiders. 

To prevent having to make this claim, ensure your business is securely locked, has adequate gates, fences and lighting, and devices like security cameras. You can also conduct background checks on your employees. 

 

2. Storm Damage

If your business is in a storm-prone area (like Queensland), make sure you are prepared for storm season. The best way to avoid making this claim is to regularly maintain your building, clear the gutters, and prune overhanging branches. 

 

3. Property Damage (Accidental And Malicious)

Making an insurance claim for property damage is quite common. Damage can include accidental incidents, from fire, floods or storms, or as a result of vandalism. 

To reduce the risks for your business, make sure to regularly maintain your building and repair any small issues early. Discourage vandals by having security cameras and lighting. 

 

4. Machinery And Equipment Breakdown

Machinery failures can be costly for small businesses because they slow down production and require expensive repairs. To avoid making a claim like this, implement regular maintenance of your machinery. 

 

5. Liability

Liability claims can include employee injuries and damages to client’s property. Make sure your walkways and floors are dry and clear of trip, fall and slip hazards. Ensure access to dangerous areas of your business, like machinery, is restricted to qualified employees. Train all your employees in risk management strategies.  

The best way to protect your business and to have confidence making a claim is to go with a reliable insurance provider. 

At Regional Insurance Brokers, we provide tailored insurance to suit any small business. We provide expert advice, value for money, peace of mind, and real service. When it comes time to make a claim, we’ll take care of everything for you. 

Talk to our experienced team for a quote today.

Why Regional Insurance?

At Regional Insurance, we have over three decades of experience serving Queensland communities. We pride ourselves on our excellent service and expertise in insurance for a range of industries. We’ll make choosing a policy, assessing your risks and making a claim simple with our personalised service to save you time, money and stress.
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