According to recent published insurance industry reports, the most common commercial claim in Texas is burglary and theft."No matter what kind of business you run, you may be at risk of burglary or theft from a petty criminal, an angry customer, or even a disgruntled employee. Out of all business insurance claims examples, burglary is the most common. Roughly 20% of commercial insurance claims are related to burglary and theft.”
The second most common type of commercial insurance claim is fire. Since most business owner’s tend to underestimate the likelihood of a fire, they are unprepared when one occurs. Nextinsurance.com states, “They also doubt recognize how much time and money it takes to get their business cleaned up and running again after a fire. The fire department, police need time to complete investigations. Insurance companies also will investigate your property claims. Repairs need to happen. All of these things take time.”
Weather damage is the third most common type of commercial insurance claim. Weather damage can include everything from hail, wind, to frozen pipes from ice storms. “Over 25% of businesses that close because of a natural disaster never re-open, partly because they don’t have an insurance provider that can help cover the loss.”
The fourth most common type of commercial insurance claim is customer injury. Someone tripping and falling in your store would be an example of this. In a business that is frequently visited by customers, general liability insurance is a good idea.
The last most common type of commercial insurance claim is being struck by an object. As told by Nextinsurance.com, “In one of the more unusual business insurance claims stories, a British travel insurer had policies to safeguard against people getting hit by falling coconuts while on vacation. It just gots to show, you never know what could happen."
The Voss Law Firm, P.C. has been protecting policyholder’s rights for the past 18 years, recovering billions of dollars in settlements for our clients.
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Ryan Kee - Client Specialist