Blue Arrow Graphic with White Insurance Text

When you own and run your own business, it is important to have a business insurance policy to protect your assets. Do you have a general business insurance policy? Do you have business interruption insurance? The type of insurance policy that you have for your business will determine what is covered and many small business owners want to know – what types of losses are covered by a business insurance policy? We may be able to help answer your questions at Saxton Law Firm!

What Is Covered by My Business Insurance?

Do you have questions about your current business insurance policy? Are you starting your own business and need to purchase insurance? The type of insurance policy you have will determine what is covered – and the type of insurance policy you need is based on the risks associated with your business. Here is a better look at different types of business insurance and what is covered by each.

Type of InsuranceWhat Type of Business?What Is Covered?
General Liability InsuranceAny BusinessFinancial loss due to injury, property damage, medical expenses, libel, slander, defense against lawsuits and settlements.
Business Interruption InsuranceAny BusinessFinancial loss due to lost, stolen or destroyed products and equipment.
Business Owner Insurance PolicyAny Business – Especially Home-Based BusinessesProvides a wide range of insurance coverage options to cover financial, product and asset losses.
Worker Compensation InsuranceAny Business with EmployeesMedical bills and workman’s compensation costs when an employee suffers a work-related injury.
Product Liability InsuranceBusinesses that Manufacture, Sell or Distribute ProductsFinancial loss due to a defective product that causes injury, damage or harm.
Professional Liability InsuranceBusinesses that Provide Services to CustomersFinancial loss due to malpractice, errors or negligence.
Commercial Property InsuranceBusinesses with a Large Amount of Property and Physical AssetsLoss and damage of company property due to natural disasters, theft, vandalism and more.

How Do I File a Business Insurance Claim in Kansas City, MO?

When your business suffers a loss, your business insurance policy can help provide you with the protection and peace of mind that you need to get back up and running. We know that it can be stressful for many small business owners and many want to know – how do I file a business insurance claim? Saxton Law Firm can help you file your claim and get back to work in Kansas City, MO.

Here is a closer look at the steps you need to take to file a business insurance claim:

  1. Review your policy provisions to ensure that the events are covered by the policy.
  2. Document the what, where, when and how associated with the claim to include property damage, inventory damage, contamination and injury. Include eyewitness statements and photos as needed.
  3. Notify your insurance provider in a timely manner – as some policies may include a specific notification period.
  4. Provide proof of any losses associated with the claim. Proof of loss is required with most business insurance policies.
  5. Calculate the amount of the loss and document the losses and expenses of the claim to maximize the amount covered by your insurance.
  6. Keep a record of any actions taken to minimize losses and any expenses related to those actions.
  7. Communicate with the insurance provider and insurance adjusters at all times to make sure that the adjuster has all necessary information and can process the claim quickly.
  8. Contact Saxton Law Firm with any questions and our legal team will help you navigate the claims process and compile the information needed to ensure your business losses are covered by the provider.
Insurance Claim Form on a Keyboard

READ MORE: What Insurance Do I Need for My Small Business?

Are you an entrepreneur just getting started? Do you need to purchase business insurance? Do you have questions about the types of losses covered by a business insurance policy? We hope that this quick overview will help get you started. Contact Saxton Law Firm today for a FREE case review for your business insurance claim!