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It’s October, which means pumpkins, costumes, and maybe a few friendly scares. But for business owners, the scariest surprises aren’t haunted houses or things that go bump in the night… they’re coverage gaps that show up when you least expect them.
The truth is, many businesses have policies that look solid on the surface — until a claim hits and suddenly you’re stuck with a nightmare bill. Let’s shine a flashlight on a few of the most common “monsters in the closet”:
Property Insurance Gaps
Think your property policy covers everything? Not always. Many policies don’t cover code upgrades, outdoor property, or business interruption. Imagine your building suffers a fire — only to discover your coverage doesn’t fully rebuild you to today’s codes. Talk about frightening.
Business Auto Nightmares
Rely on employees driving their own cars for work errands? Without the right “non-owned auto” coverage, one accident could come back to haunt your business.
Cyber Liability Shadows
Hackers don’t need a mask and cape to do damage. A stolen customer file or ransomware attack can cost thousands — and many businesses still don’t carry cyber coverage.
Workers’ Comp & EPLI Surprises
From employee injuries to wrongful termination claims, gaps in workers’ comp or employment practices liability insurance (EPLI) can take a big bite out of your bottom line.
Umbrella Oversights
Think of umbrella coverage as your extra layer of protection. Without it, a large claim could leave your business exposed — and lawsuits are scarier than any ghost.
Bonus “Creepy Crawlies” to Watch Out For:
- Ordinance or Law Coverage: Covers rebuilding costs up to current building codes. Without it, you’re paying the difference.
- Pollution Liability: A spill, leak, or contamination issue isn’t usually covered under general liability. That cleanup bill can be monstrous.
Don’t Get Spooked by Gaps!
The good news? These “ghouls” are easy to banish once you know where they’re hiding.
That’s why we created a free checklist: “Scary Coverage Gaps Every Business Owner Should Know.” Download it, review your coverage, and make sure your policies aren’t hiding any unpleasant surprises.
Download the Free Checklist Here
At Top O’ Michigan, we believe your insurance should give you peace of mind — not sleepless nights.