What Are the Most Common Commercial Insurance Claims?
Commercial industries come in all different shapes and sizes, and because of these vast differences, there must be various insurance policies available. Some businesses may not need malpractice insurance, such as law offices or those in the medical industry, but there are other insurance policies almost every business benefits from. There are a few incredibly common commercial insurance claims that almost every industry has if they want to thrive in today’s business world.
Stolen Goods
Burglary and theft are not words you want to hear when you’re running a business, but these occurrences can be quite common. Thankfully, you don’t need to sit by as your stock of goods and materials disappears—you can make up for the cost of the goods with insurance claims. With the right insurance, you can quickly file a claim on lost merchandise or products, but that’s not all you can do. You can also file a claim and obtain compensation for the damage to your facilities that the burglar caused during their break-in and theft.
Water Damage
A common kind of insurance that businesses will have is water damage insurance. While water is essential to life, it can be incredibly destructive, and the repairs for water damage are expensive. Water can also hurt your business in numerous ways, all the way from rotted wood to mold, burst pipes, leaky fixtures, and even floods. It’s not a fun thing to experience, which is why many people rely on insurance to resolve the effects of flooding as quickly as possible. Water damage is obvious and easy to point out when filing a claim, which is not something you can do for every kind of business damage.
Damage to Reputation
One form of damage you can’t simply point at and file a claim for is reputational damage. In addition to stolen goods and water damage, many businesses will also invest in reputation insurance. Third parties can make any claims about a company, and while many claims are safe under free speech, some broach the line and put a company’s reputation into question.
Businesses of all shapes and sizes can file an insurance claim or reputational damage as someone or some group invaded their privacy, slandered them, or committed libel against them. While this insurance claim isn’t the most popular type, it’s still a common one that businesses need to obtain the proper insurance policies for.
These are just some of the most common commercial insurance claims that businesses obtain, but there are many more out there, each catering to different industries and needs. The insurance world is vast, and if you’re unsure of how to get the proper claims and compensation you’re entitled to, don’t hesitate to reach out to AmeriClaims. Our commercial public insurance adjusters can help represent your interests and keep your business thriving through adversity.
