UG Insurance Brokerage Inc Blog
In terms of expanding your seemingly growing business, the responsibilities and liabilities also arise. While most entrepreneurs put their valiant effort into their business operations, a critical factor in achieving ultimate success in business is through assessing the risk factors surrounding your area. In this article, you will get yourself familiarized with the vital claims in commercial policy.
Burglary and Theft
In any business, the chances that your place might be the next victim by thieves and burglars will always be present. The worst part is, it could be your customer or even disgruntled employee. Cases like burglary and theft are also the most common among business insurance claims examples.
Business owners often neglect the likelihood of a fire from happening. Much worse, they often realize its adverse effects and the costly restoration expenses once the mishap has already occurred. Fires could tear down any business at any given time and place, and one of the most affected are those enterprises that failed to get insurance coverage.
A weather-related disaster could put any business on halt on any occasion, either temporarily or worse, permanently. It can cause an enterprise to shut down for an extended period, depending on the recovery pace. Data shows that 25% of businesses that seized operations due to natural disasters have never reopened, mainly because of a lack of coverage on their policy.
This one, although common claims filed by businesses, can be prevented from happening. If one customer is involved in an accident inside your business premises, you must know how to utilize this coverage. In this case, you'll file an accident insurance claim to shoulder your injured customer's liabilities.
The Claims Process
In case one of these scenarios has happened to your business, you should immediately intend to submit a commercial insurance claim. The first important step is to contact your insurance provider and inform them as soon as possible. The next process is to give them a narrative about what exactly happened to lead to the incident.
Most of the time, a business owner will do everything to protect his/her business against any possible damage. But things that are out of hands like fire, natural disasters, and even burglary might be around the corner. Getting commercial insurance to safeguard your business property will be one of your armors moving forward.
At UG Insurance Brokerage Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (718) 848-7777. You can also request a free quote by CLICKING HERE.