In our society, lawsuits are not uncommon. It seems that anyone can sue someone else for even the simplest of things. Do you recall when McDonald’s was sued by a lady who's hot coffee burned her lap? She claimed she wasn’t warned about the extreme heat. This incident reminds us of one thing, every business is at risk for a lawsuit—even yours. Why?
Someone who is injured or incurs property damage while on the property of your business, or as a direct result of a business’ actions, products or services is able to sue for damages suffered. And, even if the claim is frivolous, any allegations that end up in court can cost your business hundreds of thousands of dollars (or more) in legal fees and, if successfully sued, settlements.
While your business can never be completely free of liability risks, you can minimize them. Keeping your workspace clean and tidy, free of tripping hazards, is a start. Always put up a warning sign signifying wet floors or other problem areas. Clearly display policies that affect customers, such as return policies, to prevent confusion. The more you do to clear up misunderstandings before they start, the less your liability risk.
Perhaps one the best ways to protect your business against liability risks is to purchase business general liability insurance. This kind of policy is made to cover financial obligations that result from liability claims, such as medical expenses, settlements and legal fees. The amount of coverage your business needs relies heavily on its risk potential. For instance, a construction company has a higher risk profile than, say, that of graphic designer.
Speak with a qualified insurance agent for a customized evaluation of your business' risk and to learn more about how liability coverage can protect you.
We’ll help you find the best coverage. Call Pro Player Insurance Group at (954) 316-4662 for more information on Fort Lauderdale general liability insurance.