If you are a small business owner, you need insurance. When you sign up for this insurance through your provider, you likely don’t anticipate ever having to tap into it, but the reality is, accidents and unfortunate events can and do happen. That’s why you have to prepare for every eventuality. 

Business insurance acts as a shield against the daily risks that come with running a business. In addition, it acts as a buffer that gives you peace of mind so you’ll always be safe, not sorry, should a catastrophic event occur. Studies show that 40 percent of small businesses will incur a property or liability loss within the next decade. 


Let’s take a look at the most frequent claims against businesses:

  1. Burglary and theft20%: The perpetrators could be strangers, or they could be dishonest employees. In either case, you can prevent such claims by performing rigorous background checks for all employees, installing security systems, putting in fences and gates, adding adequate lighting, and requiring access controls to the premises.

  2. Water and freezing damage15%: To avoid freezing losses, you can clear your roofs of snow and ice, train workers how to shut off the main water in the event of an emergency and maintain a stable temperature indoors to prevent pipes from bursting.

  3. Wind and hail damage15%: Businesses can offset these risks through regular maintenance of trees, anchoring of outdoor equipment, and protection of windows from flying objects.

  4. Fire10%: It’s important to have an emergency plan in place, plus you should also perform periodic fire drills and test out fire-detection equipment on a regular basis. 

  5. Customer slips and falls10%: Keep the premises clear and clean, and be sure to engage in proper maintenance.

  6. Customer injury and damageLess than 5%: Whether one of your employees spills hot coffee on a customer or a customer gets hit in the head with a loose ceiling tile, you have to be prepared for these claims. 

  7. Product LiabilityLess than 5%: You are vulnerable to product liability claims depending on the types of products you sell and the warranties you provide.

  8. Struck by an objectLess than 5%: Many moving objects can lead to injuries, such as cars and trucks, falling tools, and mobile equipment. 

  9. Reputational harmLess than 5%: Third-party claims for acts such as slander and libel can damage your reputation. Don’t criticize competitors publicly, and always get permission from content owners before posting anything on your website.

  10. Vehicle accidentsLess than 5%: Implement a vehicle safety program and ask your insurer to review employees' motor vehicle reports. 

Contact Bearce Insurance for Business Insurance in Brockton

If you would like to know more about our business insurance coverage options, please contact us locally at 508-586-3400 or toll-free at 800-498-9900, or get an online quote today.