Insureon conducted a survey of more than 1,000 small business owners to find out what kind of insurable incidents occurred at their businesses last year, if any. More than one-third (35.2 percent) of small business owners surveyed reported experiencing an insurable event like employee injury or theft in 2016.

Despite experiencing these types of events, the survey found that many small businesses aren't filing claims for them. Insureon cites the following possible reasons for this trend:

• They don't have insurance or don't have the right policy to cover the claim.
• The cost of the incident is less than their deductible, so they deal with it out of pocket.
• They worry that filing a claim will cause their premiums to go up.
• They prefer to handle the matter on their own rather than wait for resolution from an insurance company.

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As a result, many small business owners are choosing to let their carrier know about an incident, but don't file a claim. Instead, they pay for the incident out of pocket to prevent higher premiums in the long run. But how does the cost of a claim stack up against the cost of coverage?