Running a business is a rewarding journey. But even the best business owners can’t plan for every liability. Every year, businesses everywhere experience some form of financial or property risk. Here are the top insurance claims businesses make.

1. Theft: The most common insurance claim is to cover instances of theft. This can come from internal loss, such as employee fraud or customer theft.
2. Property damage: A large percentage of business claims are to repair the damage done from weather. That can include serious structural damage, including a roof or pipes damaged from cold weather, as well as wind and hail damage.
3. Fire damage: Fire can destroy property quickly, unfortunately. This is a serious claim that businesses owners would rather not find themselves having to make.
4. Customer injury: Businesses that host in-store customers are vulnerable to customer injuries. Customers can slip and fall in cold or wet weather, if the floor is being cleaned, trip over inventory, or even have stock fall on them. And if the public is regularly in your location, this can be an even more serious hazard.
5. Product liability: Companies that manufacture products that customers buy – cars, toys, appliances, etc. – occasionally end up taking out claims because their product was faulty. Claims because of product failure are usually for the costs associated with recalls or customer injury.
6. Vehicle accidents: Claims from vehicle-related accidents are becoming more common. Businesses who use fleet education and accident prevention can reduce those claim numbers even further.

Make sure you avoid a costly lawsuit or other business-damaging claims. Protect your assets with an insurance plan that takes the time to understand your business and create a risk management plan that works for you.

We’ve all heard that story – the “I didn’t know it wasn’t covered” story. People who get in a car accident didn’t realize that they’re not covered for renting a car while their vehicle is repaired, or homeowners find out they aren’t covered for flood damage when they go to file a claim. How do you keep this from happening to you at your business?

Here are some of the specific insurance coverages you may consider adding into your business insurance policy:

General Liability: This is coverage against claims for injury on your business property.

Product Liability: This offers protection in the event of faulty products that lead to damage, illness, injury or death.

Property Insurance: Protects your commercial business property against losses caused by fire, storms, or other damage.

Commercial Vehicle Insurance: Covers damage company vehicles, injury to company employees, and overall provides protection against company liability in the event of an accident.

Workers Compensation: Coverage for your employees in the event of illness or injury at the workplace.

Cybercrime Insurance: This is relatively new type of insurance that can help provide protection in the case of a cybercrime, like data theft or loss of revenue due to a website being compromised.

The biggest key to making sure you don’t have any gaps in your coverage in case of a crisis is working with someone who can learn about your business and make the recommendations that are right for you. It’s important to work alongside an expert to create your policy; it’s equally important to take the time to read and re-read the policy contract to make sure everything you want is there and that you understand all the fine print before signing. While there are plenty more exciting things to spend your time reading in your business day – like soaring sales reports – this document is one of the most foundational in securing your future.

Whether your business is brand new or an established pillar of the community, we can make sure that you’re covered for what you need and ensure there are no gaps in your coverage. To help examine your current coverage or create a custom coverage proposal for your business, call us today.

Accidents can happen anywhere. That’s why it’s crucial that business owners everywhere take workers compensation insurance seriously and understand that it’s a crucial part of your business foundation and not just a nice-to-have benefit or an unnecessary perk. Here are some of the most important things to know about workers compensation insurance.

Injuries happen more often than you think.

You don’t have to work in a hazardous job to be at risk for work injuries. If an employee slips on a freshly washed office floor, you could be on the hook for their injuries. Even if the employee was partially responsible for the injury, they can often still receive employee compensation.

Workers compensation covers more than medical bills.

Workers compensation can cover injuries, loss of limbs and chronic illness caused by a work environment; medical treatment for work related illness, injury or ailment; rehabilitation; lost wages and more. It’s important to understand what workers compensation covers so you can get the right policy for your business and protect both your business assets and reputation.

You can reduce workers compensation claims by providing safety training.

It’s important to use preventative tools to help minimize risk in the workplace. Scheduling training for new employees and ongoing safety meetings for all employees is a good first step, no matter how small your business is. You should also regularly inspect the work environment and equipment to ensure it doesn’t pose any hazards to your staff. Displaying safety reminders and tips can also be helpful.

State requirements vary.

But no matter what kind of business you run, you still need basic workers compensation coverage. Georgia employees are covered from their first day on the job. You can find out more on what Georgia law says about workers compensation here.

No matter what industry your business is in, if you have any employees, you and your business are protected by having workers comp coverage. Navigating the ins and outs of coverage can be tricky, and Accurate Protection is here to help. We’re insurance experts, so we can help you walk through setting up the coverage you need. If you’ve got questions or want to get a proposal, get in touch today. We’re here to help.

Our business is protecting your business. We have the expertise to ensure the personal and professional assets that are most precious to you, from home to life to business, are protected. This protection allows you to know that the investments you’ve made in life are solid and that your hard work can pay off into the future.

We also know that risk management doesn’t stop at insurance. Just like cars have insurance against damage in an accident, they’re also available with warranties to provide protection against breakdowns or mechanical failures, plus built-in features to protect against theft. These additional services and features add value to the whole package, helping keep you on the road for longer. Similarly, we offer several value-added services that protect you from the risks that insurance might miss. Here are some to consider:

• Safety Programs: A safe workplace is a successful workplace, and safety is everyone’s responsibility. The best businesses know that they have to make safety training a priority, and our safety program service allows you to customize safety materials that can create a safer, healthier workplace that benefits everyone.
• OSHA Compliance: OSHA’s standards and practices can change quickly, and our compliance services help you stay on top of the must-know information to be able to prepare for and pass OSHA inspections successfully to help keep your business running with no downtime.
• Fraud Protection: We can help you learn what policies and procedures your business needs to protect itself from fraud and walk you through the process every step of the way.
• Communication and Connection: We offer access to extensive business databases that can help you understand and mitigate risks, shape policy and strategy, and communicate to employees with newsletters, posters and more.

As your partner in business, this is just a handful of additional ways we can help your organization beyond insurance solutions. See our other risk management solutions and value-added services here.