Most Common Business Insurance Claims 

  |   By  |  0 Comments

Most Common Business Insurance Claims

Pop Quiz! What are the most common business insurance claims? Is your business prepared to address these claims when they occur? 

If you are unsure of these answers—or want a refresher—we hope this article can help! Whether you run a fast-growing business or are just starting, these business insurance claims could appear on your doorstep, and we believe preparation is essential. 

Theft and Burglary  

Did you know that employee theft accounts for 42.7% of Inventory loss in US stores? We are not introducing this statistic to cause alarm; instead, awareness is essential. 

Employee theft is preventable, and we will cover this topic in greater detail in a future article! For now, the primary recommendations are to perform background checks, invest in a surveillance system, and build a relationship with your team. 

As to burglary, a security system and a well-lit business could reduce break-ins.  

Water Damage 

No matter the season, water damage could occur. Rain, snow, and freezing temperatures are all leading contenders for damage, but burst pipes could also happen for several reasons. 

One great way to mitigate damage from a burst pipe is by training a staff member to shut off the building’s water. Does someone in your building know the water shutoff valve location? Rectify this situation before a plumbing emergency occurs. 

You may consider implementing a commercial plumbing inspection schedule to catch any potential issues early. 

Is water damage generally covered under commercial property insurance? Well, yes and no. In most instances, commercial property insurance usually covers water damage from snow, freezing temperatures, and burst pipes. However, you will need a separate policy to cover flood damage. 

Were you interested in taking a closer look at water damage distinctions? Our article here examines the differences between flooding and water backups. It does focus primarily on homeowners’ insurance coverage options, but you might learn something useful! 

Before moving on to the next common business insurance claim, here is one last note. If your business needs to close due to water damage, your business income insurance policy could reimburse damages. 

Wind and Hail Damage 

High winds and hail cannot be tamed, but they do not have to control your business. In this situation, forward-thinking is critical. 

Is your business located near trees? Trim overhanging branches and watch out for dead or dying trees. A dead tree has a weaker root system and is at increased risk of falling. 

Does your business utilize outdoor equipment? Consider storage methods that anchor it in place when not in use. The last thing your business needs is a windstorm throwing heavy machinery into your building. 

Fire Damage 

According to the National Fire Prevention Association (NFPA), a fire occurs in a structure at the rate of one every 64 seconds. 

Does your business have a fire safety checklist? Create one today! Implement an emergency exit plan and regularly practice the route with your employees. 

A fire suppression system could also protect your employees and your property. Interested in learning about fire suppression system benefits? Check out our article here. 

Customers Slipping, Tripping, and Falling 

Accidents occur when you least expect them, so stay vigilant of your surroundings while at your business. 

Instruct employees to clean spills immediately. It would be best if you also considered investing in proper wet floor signage. 

Always organize and secure electrical cords so they do not become a tripping hazard. Keep your workspace clutter-free. 


We hope learning about these top business insurance claims will give you the tools you need to reduce future claims. Are you interested in reevaluating your business insurance options? Our team would be happy to help! 


Back To School Insurance Tips 

  |   By  |  0 Comments

Back to School Insurance Tips

Summer vacation is winding down, and we hope you and your families had a safe and fun-filled summer! National Back to School Prep Day is August 15, but what is wrong with a bit of a head start? Whether you have a child in daycare, high school, or college—or are attending college yourself—there are insurance considerations you need to understand. So, as you cross school supplies from your list, we wanted to ensure your insurance needs are also covered. 

Review Your Auto Insurance

Do you feel like you live out of your car during the school year? Between standard drop-offs, after-school activities, travel time to games—and any social activities—your vehicle might see an uptick in use. But, if you review your auto insurance coverage early, you could avoid a nasty surprise down the road! 

New Drivers

Another vital factor to consider is if your high schooler will be eligible to get their license. We recommend you discuss this change with your insurance provider once your teenager is old enough to drive, obtains a learner’s permit, and receives a driver’s license. Michigan law requires teenaged drivers to have car insurance.  

If you need to brush up on Entry-Level Driver Training Regulations, we hope this article can help! 

College Students 

If your child is college-aged and planning to bring their car, this might impact your insurance. Your agent may need the college’s address or additional information added to your policy. 

Look into your auto insurance policy’s coverage of unnamed drivers. If there is no coverage, sit down with your college student and explain the situation. Life happens, and if they lend the car to a friend who has an accident, you need to know the coverage. Lending a car to a friend is a sentiment of goodwill, but, unfortunately, it could have dire consequences. 

Will your college student leave their vehicle behind for the semester? Mention this to your insurance provider; you might be able to remove them from your auto insurance and save on your policy.  

Health Insurance

Depending on your school district and your child’s school activities, they will likely need updated immunizations and a yearly physical. Brushing up on your health insurance coverage before scheduling these necessary appointments could help you avoid out-of-network charges. 

Health insurance will also come in handy should your child experience unforeseen illness or injuries. Of course, we hope they stay happy and healthy this school year, but preparation never hurts! 

Other Insurance Consideration

This section will likely be most beneficial to college students, but if you learn something new, that’s great! 

Renter’s Insurance

If the college student lives off-campus, renter’s insurance could be invaluable. A standard policy covers losses from fire, lightning, theft, vandalism, windstorms, and more.  

Personal Property Coverage

Let’s face it—computers, textbooks, and other specialized course-required equipment are expensive. Ask your insurance provider if personal property coverage would be beneficial. 


We hope you learned something new and that you are feeling prepared for the back to school season! If you want more information on Allied Insurance Manager’s insurance policies, click here.