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Most Common Commercial Insurance Claims and How to Handle Them

Most Common Commercial Insurance Claims and How to Handle Them

Mar 23, 2023

Commercial Insurance

Commercial insurance is a vital asset for any business, as it can protect them from the financial burden of unexpected losses. Unfortunately, claims are not uncommon, and they can be time-consuming to handle. This article will discuss five of the most common commercial insurance claims and how to handle them properly.

5 Most Common Commercial Insurance Claims

Here are some of the common insurance claims you must know in order to handle them:

1. Burglary and theft

Burglary and theft are among the most common commercial insurance claims. Insurance companies offer coverage for businesses when their property, money, or other assets are stolen or damaged by burglary. As a business owner, you should ensure you have the right kinds of coverage in place to protect yourself from losses due to burglary and theft. It is also important for you to regularly review your policies and update them if needed.

2. Fire

Fire can have a devastating effect on businesses, causing extensive damage and long-term disruption. Commercial insurance claims are designed to ensure you are able to recover financially when your business experiences a fire or other unforeseen event.

3. Weather damage

Weather damage can cause costly problems for businesses ranging from physical damage to lost revenue. That's why it's important to carry the right commercial insurance policies to protect them from weather-related losses.

4. Customer injury

Customer injury is a common commercial insurance claim that can be extremely costly for businesses. Without proper insurance coverage, you may be liable for medical expenses, lost wages, and other damages resulting from customer injury incidents. By understanding customer injury policies and taking steps to reduce risk, you can ensure your business is properly covered if an incident occurs.

5. Struck by object

Another common type of claim is when an object strikes a person. This could be anything from a falling tree branch to a rock thrown by someone who is vandalizing your property. Knowing what to do after an object has struck someone can help expedite the process and ensure that everyone involved gets the compensation they deserve.

How Does the Commercial Insurance Claims Process Work?

The commercial insurance claims process is the process of filing an insurance claim with an insurer for a business-related loss. It involves submitting a detailed report and supporting documents to the insurer, following their procedures, and ultimately receiving a decision from them. Understanding how the commercial insurance claims process work is key to ensuring your business is adequately protected from unexpected losses.

My Insurance Claim Got Denied — Now What?

The commercial insurance claims process can be confusing and overwhelming. When you file a claim, and it gets denied, it can leave you feeling frustrated and uncertain about what to do next. The good news is that there are steps you can take to try and get your claim approved. From understanding the reason for the denial to following up with your insurance company, we’ll look at what you should do if your insurance claim gets denied.

Learn More About Your Commercial Insurance Claim and Secure Your Business with Kneller Insurance Agency

To secure your business with ease, contact us today. Our experts at Kneller Insurance Agency will help you understand the various types of commercial insurance claims we provide and help you choose your best option. Get your business covered today!

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