What small business owners/landlords can do to help prevent slips, trips and falls and what to do if they happen.
Help reduce common losses in your business
Your business is exposed to many hazards that can cause disruptions. Find your business type listed below to learn more about loss prevention for your business.
A
B
C
Carpentry Contractor (Auto - Company Owned Vehicles)
Carpenter (Auto - Personal Owned Vehicles)
D
Drywall Installation Contractor (Auto - Company Owned Vehicles)
Drywall Installer (Auto - Personal Owned Vehicles)
E
Electrical Contractor (Auto - Company Owned Vehicles)
Electrician (Auto - Personal Owned Vehicles)
F
Fencing Contractor (Auto - Company Owned Vehicles)
Fencing Installer (Auto - Personal Owned Vehicles)
Flooring Contractor (Auto - Company Owned Vehicles)
Flooring Installer (Auto - Personal Owned Vehicles)
H
HVAC Contractor (Auto - Company Owned Vehicles)
HVAC Installer (Auto - Personal Owned Vehicles)
I
L
P
Painting Contractor (Auto - Company Owned Vehicles)
Painter (Auto - Personal Owned Vehicles)
Pest Control Contractor (Auto - Company Owned Vehicles
Plumbing Contractor (Auto - Company Owned Vehicles)
Plumber (Auto - Personal Owned Vehicles)
T
Trucking Owner/Operator (Auto - Personal Owned Vehicles)
Types of common insurance losses
Common types of insurance losses include:
Property damage losses
Damage or destruction of physical assets such as buildings, equipment, inventory, or vehicles due to events like fire, theft, vandalism, or natural disasters.
Liability losses
Financial losses resulting from legal claims against a business or individual for bodily injury or property damage caused to others.
Business interruption losses
Losses related to the inability to operate normally due to a covered event, leading to lost income and extra expenses.
Learn more about business interruptionWorkers’ compensation losses
Claims arising from employee injuries or illnesses sustained on the job, covering medical costs and lost wages.
Auto losses
Losses involving company vehicles or personal vehicles used for business purposes, including collisions and theft.
Cyber losses
Losses due to data breaches, cyber-attacks, or other technology-related incidents.
Product liability losses
Claims arising from injuries or damages caused by defective or unsafe products.
Theft and fraud losses
Losses from employee dishonesty, fraud, or external theft.
The types of losses listed above are not all-inclusive. Each type of loss may require specific insurance coverage to adequately protect against financial impact. Contact your State Farm agent to learn more.
Frequently asked questions about common losses
Common insurance losses directly influence premiums by signaling the level of risk to insurers. Higher frequency and severity of losses generally result in increased premiums, stricter underwriting requirements, and potentially reduced coverage options. Effective risk management and a strong loss prevention record may help mitigate premium increases and maintain favorable insurance terms.
This answer was drafted with the assistance of Artificial Intelligence.
Insurance losses are evolving alongside technological advancements, environmental changes, and shifting business models. Staying informed about these trends can help your businesses adapt coverage and risk management strategies to better protect against such emerging exposures as these:
Increase in cyber losses
- Growing frequency and sophistication of cyberattacks such as ransomware, data breaches, and social engineering scams.
- Greater exposure due to remote work and cloud-based systems.
Property losses related to natural disasters
- More frequent and severe natural disasters like wildfires, hurricanes, and extreme weather events.
- Increased property damage and business interruption claims due to a natural disaster.
Emerging liability risks
- Growing concerns about product safety with new technologies (e.g., autonomous vehicles, AI).
- Increased litigation over data privacy and environmental impact.
Workplace safety challenges
- Changes in workforce dynamics, such as gig economy and remote work, complicate workers’ compensation and safety management.
- Mental health and ergonomic-related claims are rising.
Fraud and crime
- Increasing complexity and frequency of insurance fraud and cyber-enabled financial crimes.
This answer was drafted with the assistance of Artificial Intelligence.
Simple Insights®
Looking for ways to help keep your small business running smoothly? You’ve come to the right place. Articles from Simple Insights draw on over 100 years of State Farm knowledge.
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All claims investigations are based on the individual facts of loss, and coverage decisions are based on the specific terms and conditions of the policy.