Many people want to be their own boss, and plenty of businesses find success. Yet day in and day out, businesses face many risks. Beyond competitors and market forces, there are many other risks, like severe weather, that are easy to overlook. We’ll cover some risks businesses should be aware of. If you’d like to explore commercial insurance options, contact Miao Insurance Services, serving the greater Pleasanton, CA community. We can help you select insurance policies that can mitigate risks for your business.

Property Crimes are Common

Did you know that nearly 1 in 10 small businesses will suffer a break-in or theft in any given year? Further, some businesses likely end up robbed but don’t even realize it. The right commercial insurance plans can provide coverage and help business owners get back on their feet after a break-in.

Weather Damage and Wildfires are a Serious Risk

A powerful storm can destroy entire communities. The same is true for wildfires, which are now very common in California. In 2016, the Soberanes Fire caused over $200 million in damage. The 2021 wildfire season may have cost California more than $250 billion, and many businesses were affected. The right commercial insurance plans can provide protection against various weather events and wildfires. That said, it’s important to understand individual commercial insurance policies and what’s covered.

Civil Litigation is Common

A business might end up facing a lawsuit for myriad reasons. In many cases, the business may have done nothing wrong. A customer might trip over their own feet while on your premises, for example. Yet regardless, businesses could face a variety of legal headaches.

In some cases, commercial insurance will help with litigation and payouts or settlements. Of course, it’s important to understand what your insurance policy does and doesn’t cover. Contact Miao Insurance Services, serving Pleasanton, CA and surrounding communities, to learn more about commercial insurance.