Direct Line For Business have conducted a survey of small business owners which shows that around a quarter have been the subject of crimes over the past two years.

Small business insurance claims payouts on the rise

As a result of this wave of small business crime, the average insurance payout has equaled £2,500. A number of crimes, including the fraudulent claiming of non-payment, theft from commercial vehicles, and theft from the workplace were among the most commonly cited reasons for placing a small business claim.

The most common crime, in terms of small business claims, was that of receiving fraudulent non-payment of bills. This accounted for around 13% of all reported claims.

One third of all business related crimes lead to an insurance claim

Also popular were commercial vehicle break-ins along with theft from commercial premises. Around one third of all crimes led to an insurance claim and with high average claims figures this has cost insurers a total of £833m.

These figures show how important it is for businesses to protect all of their assets while also protecting their reputation and revenue. To get a quote for your business insurance call us on 0161 968 2041 and we will be able to discuss your business requirements and compare the insurance market, including a number of niche insurers only available via a broker, to help you manage your potential risks and possible losses.