6 Common Accidents Commercial Property Insurance Covers

Commercial property insurance is crucial for protecting your business. The risk of damage to your assets, employee injuries, and customer harm is more significant than many business owners realize.

Commercial property insurance

For example, The Hartford conducted a study and found that 40% of   businesses would experience a property or liability loss within the next ten years. Therefore, ensuring you are insured is crucial to protecting you should the worst happen.

Here are the most common accidents commercial property insurance covers.

1.   Theft

People talk about insuring their businesses, but you may not realize that your coverage extends to the assets within, including tools, equipment, and inventory.

Theft happens more than you might think. For example, there was a 54% reported increase in shoplifting incidents within the retail business. Occasional instances of theft may not hit the bottom line too hard, but the losses can soon snowball.

Your commercial property insurance will allow you to claim losses incurred should someone break into your property. It also protects against employee-related theft, which is more common than many believe.

Reduce your premiums by investing in alarm systems, or consider hiring a security guard if you live within a high-crime area.

2.   Freezing Damages

Within much of the U.S., bitterly cold winters can play havoc with your premises. Heavy snowfall could damage the roof, and ice may cause your pipes to freeze and eventually burst. The resulting water damage will be covered under your commercial property insurance policy.

It’s essential to take proactive action during the winter months. Teaching key workers how to shut off the water and maintaining a specific temperature indoors to stop freezing is crucial to avoiding these types of claims.

Note that if your premises are unusable, you may be able to claim for business interruption if your policy includes it.

3.   Wind and Hail Damage

Much of the Southern U.S. is exceptionally vulnerable to hurricanes and hail. Both Florida and Texas are two states notorious for wind and hail.

Make sure that insuring your business premises is a priority. Other than named natural disasters, the threat of wind comes mainly from falling trees and other debris.

Take action by anchoring any outdoor equipment and keeping trees maintained, including removing trees if they present a viable threat in extreme weather. Your windows could also become targets, as even small flying objects can shatter them.

When it comes to any type of natural disaster, your location will influence how much your premiums cost. Wind and hail coverage, for example, will always be costlier in the part of the U.S. known as “Tornado Alley” than in California or North Carolina.

4.   Fire

Fire can happen for any number of reasons, and it’s among the most damaging disasters that can happen to your business.

Fires can occur due to negligence. Faulty electrical wiring is a massive problem in older buildings. Fire damage can also result from crimes against your business or natural disasters sparking a blaze.

To limit the risk of experiencing severe fire losses. Conduct regular fire drills, test your fire alarms, and make sure your suppression equipment is inspected regularly.

You may want to enlist outside help to perform these inspections for you. A local fire marshal can be extremely helpful in this respect.

5.   Slips and Falls

Slips and falls are among the most common types of accidents. For example, employees sliding on oil slicks in a busy garage or a customer falling on a wet floor could leave you in a world of pain.

Even moderate injuries resulting from slips and falls could mean that you’re paying somebody’s medical bills, the cost of hiring an attorney, and any settlements. In the case of your employees, you’ll also need to compensate them for lost wages.

Commercial property insurance policies can protect you against these problems. Many insurance packages for businesses bundle together a selection of policies to ensure you pay a single premium and deductible.

6.   Struck By an Object

Believe it or not, people get struck by random objects all the time, and people are well within their rights to sue for any injuries they sustain.

For example, if you are changing a lightbulb in the middle of a retail premises, you may drop a screwdriver that strikes a customer on the head.

While many of these claims historically have been bizarre, most “struck by an object” claims are far more benign and usually lead to the victims being awarded a settlement.

Your commercial property insurance will cover the costs of everything involved as long as you have the appropriate coverage in place.

Customize Your Insurance Policy to Match Your Needs

Personal insurance policies are commonly standardized and offer a limited tier of protections. Commercial policies are tailored to fit the needs of each business.

You never have to worry about paying for coverage you don’t need. After all, why would you need to worry about earthquake coverage when you live nowhere near a fault line? Opting for commercial insurance coverage and adding only what you need enables you to save money and get the most from your monthly premiums.

Make sure you speak to an insurer you can trust so you know you’re getting the best deal. Commercial insurance for your property doesn’t have to be expensive. Some of the best policies cost no more than a few dollars per day to maintain.


Accidents are common in the business world. While severe accidents may be relatively rare, even minor injuries could land you in court. Defending yourself against real and frivolous claims can cost thousands of dollars, and there are no guarantees you’ll get that money back.

Commercial property insurance gives you the peace of mind to know that you only have to cover the deductible. It offers clarity and the ability to budget for the worst.

Your insurance journey begins with finding an insurer in which you can put your faith. So start your search for an ironclad commercial property insurance policy now.


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