A Heads Up to Small Businesses….What are the most common claims and their cost?

“Despite experiencing these types of events, the survey found that many small businesses aren’t filing claims for them. Insureon cites the following possible reasons for this trend:

  • They don’t have insurance or don’t have the right policy to cover the claim.
  • The cost of the incident is less than their deductible, so they deal with it out of pocket.
  • They worry that filing a claim will cause their premiums to go up.
  • They prefer to handle the matter on their own rather than wait for resolution from an insurance company.

As a result, many small business owners are choosing to let their carrier know about an incident, but don’t file a claim. Instead, they pay for the incident out of pocket to prevent higher premiums in the long run. But how does the cost of a claim stack up against the cost of coverage?”

“According to The Hartford, the 10 most expensive types of claims (and the cost per incident) are:

  • Reputational harm: $50,000
  • Vehicle accident: $45,000
  • Fire damage: $35,000
  • Product liability: $35,000
  • Customer injury or property damage: $30,000
  • Wind and hail damage: $26,000
  • Customer slip and fall: $20,000
  • Water and freezing damage: $17,000
  • Struck by object: $10,000
  • Burglary and theft: $8,000

In comparison, the median price that most small businesses pay for coverage is:

  • $428 per year for general liability insurance
  • $920 per year for professional liability insurance

Compared to a $20,000 bill for a customer slip-and-fall accident, most business owners would probably rather pay $428 for general liability per year, plus their deductible, to pick up the tab.

How do the most expensive claims compare to the top incidents small businesses experienced in 2016?” Read more…at PropertyCasualty360.com.

For a review of your business insurance risks and a competitive proposal for coverage, call SWFL Insurance Agency at 239-265-9577 or drop an email to joshw@swflagency.com. www.SWFLAgency.com

Important! Do you run a small business out of your home?

Home business1

Will your homeowners insurance cover you when…

  • Your business equipment is stolen out of your vehicle?……………….NO!
  • You accidentally knock over the display next to you at an exhibition or show?…………NO!
  • Your groceries spill onto your inventory in your trunk? …………………NO!
  • A power surge damages your computer and fax machine? ……………NO!
  • Someone steals your cash box?…………………………………………….NO!

Most homeowners and renters policies do not cover liability or damage to property from business activities. Our Home Business Insurance Policy provides coverage for as little as $150 per year!

Protect your home-based business! You’re not home free with most homeowners policies. Imagine having your inventory or equipment stolen or damaged. Typical homeowners insurance does not cover this type of loss for people who run a small, side business out of their home. We are pleased to offer the perfect coverage for your in-home business: Home Business Insurance Policy.

Features Include:

  • Liability limits up to $1 million Satisfies most event or show liability requirements
  • Business property protection up to $100,000 (with $250 deductible)
  • Optional coverage for money and securities
  • Electronic data processing coverage Loss of income coverage
  • Premiums starting as low as $150 annually*

Call or email SWFL Insurance Agency today for a quote.   

         239-265-9577          Info@SWFLAgency.com

Tips to Get the Most Affordable Commercial Insurance in Fort Myers, Florida

As the commercial center of Lee County, Fort Myers, Florida is home to many companies in the state. If you own a business in this county seat, it is a wise move to start contacting commercial insurance agents to serve you. SWFL Insurance Agency is here to assist you and provide you with your needs. We offer online quoting, so you can find the most affordable commercial insurance in Fort Myers, Florida.

To save some money when purchasing commercial insurance, it is best to know exactly the right type of insurance your business requires. There are different varieties of commercial insurance. One way to learn the type of insurance policy is to consider the kind of business you are running or what industry it belongs to. Also, it helps to be specific about the size of the company, including the number of employees you have.

When you know what type of insurance to buy, you can use this knowledge to save money on commercial insurance. Our commercial insurance agents here at SWFL Insurance Agency are well-trained with the right experience and familiarity to give you the information you need. Our goal is to not only assist you in finding the most affordable insurance for your business, but also help you understand which insurance policies to purchase.

Our commercial insurance agents are equipped with knowledge, so you can get answers to your questions regarding business insurance. We can help you shop around before you make your decision. We here at SWFL Insurance Agency have an online tool that lets you compare rates from various insurers. This is very helpful, especially for those who have no prior experience in buying insurance for their business. Visit our commercial insurance quote for Fort Myers, Florida businesses to search for business insurance that you can afford.