The Rick Callaway Team at Pacific Diversified have been for over 100 years protecting you and your business property from unfortunate occurrences, often out of your control, like the following incidents that may happen at office buildings, nursing homes, restaurants, warehouses, multifamily dwellings and apartments:
Burglary and Theft
Burglary or theft can be caused by a criminal, an angry customer, or even a disgruntled employee. Burglary is the most common of all business insurance claims. Theft is around 20% of commercial insurance claims, e.g. someone steals your computers from the office. Theft, or larceny coverage protects you against both from outside intruders as well as internal employees.
We offer commercial auto insurance protection for all kinds of business vehicles.
Business owners with expensive equipment or machinery can take out additional customized insurance.
Most business owners don’t know how much time and money it takes to get their business cleaned up and running again after a fire. Fires often cause severe property damages in a short period of time that can devastate a business without insurance coverage.
Here are some real life examples:
- Insured landlord had a tenant that placed a lit cigarette in a trash can. The entire building burned which resulted in a fire damage claim of $400,000.
- A grease fire in a kitchen caused $71,000 to the building and contents therein.
- Rats ate into electrical wire in the garage which caused a fire. The house was severely damaged by fire and a $200,000 property damage claim was paid.
Over 25% of businesses go bankrupt because of a natural disaster partly caused by lacking insurance protection.
Natural disasters include but are not limited to earthquakes, floods, wind and hail, snow and ice, cold weather freezing pipes… all can jeopardize or shut down a business for an extended period of time.
For example, lightning struck a water pump, causing the pump to leak and flooding the bottom floor of the insured’s property, resulting in $52,000 in property damage.
This is specific to restaurants, for covering bodily injuries, or property damages caused by an intoxicated person who was served liquor by the policyholder
Struck by Objects
A British travel agency had business insurance policies to safeguard against people getting hit by falling coconuts while on vacation.
A duplex owner was cutting trees on the property. A limb from the tree fell on a visiting child and $300,000 was paid out in bodily injury for the visiting child’s injuries.
People can get struck by random objects like these, which can cost a business a lot of money without proper business insurance.
Loss of Income protection
Property insurance policies are designed to provide for loss of business income related to physical damage (caused by fire, wind, vandalism, etc.) to covered property.
About 40% of small businesses file commercial insurance claims. For example, a senior living facility has unique risks such as a resident wanders off. There is a higher rate for an employee being injured while assisting an elderly. Restaurants owners can be vulnerable to a multitude of exposures such as liquor liability, off premises power outages, slips and falls, and food contamination due to a wide range of guests and special events.
However cautiously and diligently you manage your risks, accidents happen.
Your customized insurance coverages can protect against great losses of business revenue and profits. We work with owners, developers and investors in the restaurant industry, senior living facilities, with the most fitting policies at the best possible prices.
It is in your best interest to be familiar with the most common business insurance claims, and to play it safe by making sure you’re covered.
No under-coverage, no overpricing in protect your business and properties
The Rick Callaway Team are known as the Extra Milers in protecting your business, employers, employees, properties and assets and vicariously those you serve as well. We leave no stone unturned to get you the best deal. No under-coverage. No over-pricing. Please call us for a free consultation: 925 788 5558 or visit our website: www.hosprop.com, or email us at: firstname.lastname@example.org.