When you open your doors for business each day, you have numerous customers, vendors, and other people coming onto your grounds or into your building. Unfortunately, should one of those people have an accident, such as slipping and falling in your parking lot or inside your building, they may file a personal injury lawsuit against you and your business. If so, winning or losing your case will come down to what is known as premises liability. Since this can be the difference between your business thriving in the years ahead or closing its doors for good, here is what you should know about this area of law.
Negligence on Your Part
Should someone suffer an accident at your business, they will likely attempt to prove you as the business owner were in some way negligent in maintaining a safe environment. This is where premises liability will become so important, since you will be liable for any damages or injuries that happen due to your negligence.
Lawsuits Against Your Business
While you hate to admit it, the fact is there are always people looking for ways to get easy money, and one of the methods they use is staging an accident in order to receive a financial settlement. Should an accident occur at your business, expect to be contacted by a personal injury lawyer who is representing the victim. When this happens, the lawyer will likely try to pressure you into making a quick settlement. However, always remember that you too can hire a personal injury attorney to represent you and your business against what you believe to be false claims.
Purchase Premises Liability Insurance
No matter the type of business you own, always make sure you have premises liability coverage. However, keep in mind that not all policies are alike. While some may pay the entire cost of a claim, others may only pay a small percentage, which could leave you shouldering the burden of thousands of dollars in expenses. Also, remember that premises liability insurance probably won’t cover the costs associated with fixing any defects found on your property.
How to Avoid Claims
Needless to say, you want to avoid premises liability claims being made against your business. To do so, regularly inspect your property, fix any problems as soon as possible, and have visible warning signs in place for any areas where repairs are being conducted.
A premises liability claim can not only hurt your business financially, but also damage its reputation perhaps beyond repair. By knowing the law and having adequate insurance coverage, your business can continue growing stronger in the years ahead.
