Previous research analyzing insurance claims filed by small-business owners suggests that only about 8.8 percent are likely to make an insurance claim in any one year.
"It's not shocking that more businesses are experiencing incidents than are making claims," said
The report also examines reasons why some business owners may not be filing insurance claims, including,,,
- Lack of insurance;
- Incidents that cost less than a policy's deductible;
- Worry that their premiums will increase after making a claim;
- Preference for handling the incident without the insurance company.
"Entrepreneurs often prefer to take care of things on their own," Devine noted. "But we were surprised by how common incidents like this were. The insurance industry needs to continue to work closely with business owners to make sure they understand how to manage small incidents so that they don't escalate into potentially costly events."
See the full survey report here: http://www.insureon.com/resources/research/insurable-incidents.
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