The day you opened the doors to your business for the very first time, your heart was likely in your throat–you had all the promise in the world and were excited about the world being your oyster and making your mark in it, yet quite possibly terrified at the prospect of failing or at the very least, not having a good grasp on all the myriad details you later would realize have a major impact on your ability to work smarter, rather than harder. Count commercial liability insurance coverage among those items–an essential item in your business toolbox that is definitely a smart way to conduct your operation because it protects its very existence from the risks that lurk around every corner.
You could be held liable for accidents or injuries that happen at your business
Such a policy, you’ll find, will offer you a variety of protection from all manner of occurrences, such as accidents, injuries, or negligence that your company is found liable for; the policy pays damages (up to the limits of the coverage) as well as costs associated with legal defense. But while protection is important, prevention is just as key because you don’t have to file a claim for an accident that doesn’t happen.
Watch out for and eliminate common dangers
- Remove or repair anything that could present a slip and fall hazard, such as loose carpeting, uneven slippery surfaces,
- Dispose of any hazardous materials (harmful or caustic substances) that can cause burns or other injuries if they get on skin, are breathed in, or splashed in the eyes.
- If a spill occurs, take care to clean it up immediately and post warning signs around a wet area
- Keep customers and visitors strictly out of areas (marked prominently) where they could be exposed to dangerous machinery, substances, or anything that could injure them
Unfortunately, with great success can come great liability–that is, the larger and more profitable your business grows, the more opportunities for liability could present themselves. For example, say you open a second or third location because you outgrow your original site; in doing so, you’ve just effectively doubled or tripled your liability simply because there are now multiple places at which an accident or injury can occur. That’s where your professional insurance agent can really help, by advising you on the best way to protect your entire organization effectively with commercial liability insurance coverage at an affordable rate. Call your agent today to learn more.