Owning or operating a business – regardless of size, complexity or footprint – is a challenging endeavor. The myriad of factors that go into a successful business can most likely create an equal number of risk exposures.
No matter what you sell or where you sell it, your investment capital, overhead and income are all at risk of loss should a casualty occur. Casualties are not limited to physical damage; they can include business disruption or stoppage, professional mistakes, reputational damage or general liability.
According to Insurance Journal, 4 out of 10 businesses will experience a property or general liability claim in the next 10 years. Claims can arise from unexpected incidents like libel or from events that are common, like weather-related casualties or theft. In fact, the most common claims are burglary and theft, water and freezing damage, wind and hail damage, fire and customer slip and fall.
Insureon estimates that 75% of U.S. businesses are underinsured while 40% have no insurance at all! Claims can be costly and, for the under- or non-insured, disastrous to the life of the business. The most expensive claims, according to Insurance Journal, are reputational harm, vehicle accidents, fire, product liability and customer injury or damage.
How then, do business owners protect against casualties, claims and loss?
Oakbridge has been helping business owners assess their operations, mitigate risk and insure against loss for over 100 years. Our comprehensive approach to commercial business protection not only gives you peace of mind but strengthens your investment and provides a protective edge when loss inevitably occurs.
Our team of advisors writes over 30 different lines of insurance for businesses. From worker’s compensation to professional liability to cyber and fleet insurance, we can tailor coverage that meets the very specific demands of your business. Our risk management program can even help minimize your exposures, greatly reducing the chance for loss and help lower your insurance premium.
Let us know how we can help give your business the backing it needs to weather any storm. We’re Oakbridge, a Top 100 Independent Insurance agency, dedicated to helping our communities thrive and prosper.
Oakbridge: Deeply rooted in your success.