As a business owner, you’re likely doing your best to keep your team members and customers safe. However, it’s also best to ensure you can take the proper precautions if you’re injured on the job. You may be faced with medical bills or even lawsuits depending on the nature of your injury, which can take a toll on your business finances. Here are some important points to remember.
Get Business Liability Insurance
You’ve heard it said that an ounce of prevention is worth a pound of cure. That’s why you need liability insurance for your business. In the same way that car insurance protects you if you’re in an automobile accident, liability insurance covers you from personal injury claims, even if you have to file one for yourself. Liability insurance will help cover the cost associated with your injury if the injury occurs at your business location.
You can likely find an affordable general liability policy since premiums often start at around $1,000. The premium payment amount depends on how much coverage you need and the nature of your company. You can find out how to get the right coverage by visiting the Government General Business Liability Insurance link from the SBA website.
If you sell products, you should purchase liability insurance for injuries that could be caused by the product. If your product could be dangerous, provide ample warnings so customers won’t be able to hold you liable. This also means you should be extra careful when assembling products so you won’t injure yourself while you’re preparing goods for customers.
It’s also very important to get workers’ compensation insurance. This insurance policy will pay employees that are hurt on the job during the recovery process. While you need this type of insurance for your employees, you also need to be able to take advantage of worker’s compensation if you’re unable to work for a few weeks or months.
Hire a Lawyer
One thing that you can and should do is to hire a personal injury lawyer. You need to make sure your business assets are protected and a good lawyer can help you do just that, especially if you have a serious injury. But be sure to do your homework before hiring someone. For example, if you live and your business is in the Houston area, you might consider doing a Google search for the term “Houston personal injury lawyer.” Do your homework on those search results and then hire a lawyer to help you.
Pay Attention to Potential Hazards
You and your team members may be exposed to dangerous chemicals or materials or using heavy equipment to create quality products and services for customers. However, you could get hurt while handling these materials or devices. In some cases, accidents are true accidents and no one is to blame. This means there is no liability for the accident. However, if you are injured because your building owner or contract didn’t address a safety issue or dangerous condition on your property, you may be awarded compensation. Of course, as the business owner, you’ll have to review the case with your lawyer to ensure that you informed property owners about safety concerns before your injury.
What to Do When You Get Hurt
If you’re injured at work, you should get medical attention right away. If you receive treatment as soon as possible you can speed up the healing process. Receiving immediate medical attention also increases the chances that you’ll get proper compensation for your injuries. Keep in mind that if you don’t have your injuries promptly from a legal perspective, you could put your employees at risk. This could lead to more financial strain for your business.
If the injury is minor, such as a bruise or cut, properly clean your wound and visit your health care provider as soon as possible. Your doctor can give you instructions for caring for your wound. If you’re not sure how severe your injuries are and you’re concerned that you may be facing a serious health condition, ask one of your employees to call 911.
It’s also best to report a claim even though you’re the one who is injured. Gather all the necessary information and file a formal workers’ compensation claim. You may also need to further investigate the circumstances behind your injury. This will help you determine whether there are construction or structural issues in your building that could have contributed to your injury.
Once you know how long you’ll be out of work, let your team members know. Assign leadership duties as needed to keep your company running smoothly so you can concentrate on healing.