Every small business owner needs to prepare for unforeseen risks which could destroy their business. One of the potential unforeseen risks is personal or bodily injuries which could result to personal injury claims. When someone is injured on your premises, they are likely to blame your business, and this can be costly. Generally, lawsuits are costly.
Business owners should therefore implement safety policies and procedures to prevent unsafe conditions and injuries on their premises. Below are some ways in which you can protect your business from personal injury claims.
- Ensure You Have a General Liability Insurance
One of the best ways to protect your business from personal injury claims is having general liability insurance. General liability insurance is vital for every business, no matter the size. Without it, your business will be at risk of the costs associated with accidents and personal injury claims.
Generally, if your business has property insurance, you also have general liability coverage. However, it’s important to do extensive research at your insurance policy to understand its coverage. If you have a home-run business, you should get business liability insurance as it will protect you against risks such as personal and bodily injury, slander, property damage, libel, and advertising injury.
Most importantly, review your insurance policy yearly and ensure that you have the right coverage for your business.
- Take Preventive Measures
This is another best way to avoid personal injury claims at your business. It is the responsibility of every business owner to take measures to prevent any accidents from happening. For instance, you need to maintain your building in great condition and regularly do maintenance on dangerous conditions like stairs, a ripped carpet, and loose railings.
Although expensive, it is advisable to hire someone to do regular inspections. Then, take immediate action if hazards are spotted. Besides, if you pass the inspections, you will not be held responsible in case of accidents that occur due to structural damage.
As a business owner, it is also your duty to train your employees on how to handle any potentially dangerous condition.
- Separate Yourself from the Business
Business owners who operate their businesses as sole proprietors are at risk of losing their individual assets when the company is sued. To reduce the possibility of your personal assets being attached in the court of law, it is advisable that you have a trust own the business. A trust is a legal entity that can own property, businesses, cash, and securities and file its own tax returns.
Therefore, if a business is sued, the only assets that are attached in the court of law are those in the trust. Always consult with your attorney to ensure that your business has the proper liability coverage and is properly classified.
- Be Careful About What You Say or Do
Business owners and their employees should protect business image by watching what they say or do. This includes not engaging in business activities that are considered questionable or even doing business with devious individuals. This is important because doing business with persons who are known for their shoddy business practices can bring the possibility of lawsuits and even spoil your reputation.
Business owners should also avoid situations that involve conflict of interests. Not only could these situations damage your business name but also land you in personal legal trouble.
- Hire a Competent Attorney
Most businesses are faced with personal injury claims from time to time. Thus, it is importance that you have an attorney ready to represent you in case of an accident. a qualified personal injury lawyer in Miami, FL will advise and guide you on how to act when you have been sued. They should also be contacted when there is a major change planned for the business.
Care should be taken when choosing an attorney as you want one that is familiar with the laws and regulations in the area in which your business operates. Do adequate research and ask for recommendations from other business owners who have worked with such attorneys.
- Stay Organized
Another tip you will want to consider is to keep your business organized. Clutter such as box pile-ups are a potential hazard especially in high-traffic areas. Additionally, clear all pathways and things that may cause physical injuries like fall and slips.
Any business, whether small or large requires protection from personal injury claims, which not only cost the business money but also harms their reputation. By implementing procedures and taking precautionary measures, business owners will be preventing accidents and eventuality of lawsuits. It is vital that you become a responsible business owner as you never know when accidents, injuries, or natural disaster could occur.