Protecting their small business from all sorts of threats is a high priority for business owners. High on this list should be protection from premises liability. I know that these conversations aren’t very exciting, but they are necessary. So, let’s dive into the topic.

What is premises liability?

A business operator is legally responsible to maintain safe premises to prevent injury to visitors or customers. In other words, when a customer enters your business the property should be safe or hazards are clearly marked.

Premises liability is an area of law that holds property owners legally responsible for accidents that happen on their property due to unsafe conditions.

Slip-and-Fall Accidents

Slip-and-fall accidents are the most common causes of premises liability injuries. These accidents happen when the ground or floor is slippery or there is an uneven sidewalk, unmarked curb, wrinkled carpet or objects littering the ground.

The National Center for Injury Prevention and Control estimates that more than 8 million people were injured in slip-and-fall accidents in 2004. I read elsewhere that 1,000 slip-and-fall accidents happen every month in Wal-Mart stores.

Basics of Premises Liability

Anthony C. Johnson at Forbes.com in “What Every Business Owner Needs To Know About Premises Liability” explains the impact accidents on a business and he ends with a short “what next” list.

What Every Business Owner Needs To Know About Premises Liability

You probably already know that if a person slips and falls at your business, you’re a prime target for a lawsuit. At the very least, you’ve probably seen the personal injury lawyer advertisements on television that promise to hold businesses accountable for their negligence and get injured parties the money they deserve. Read the rest of the post…

Protecting Through General Business Liability Insurance

Insurance coverage is paramount for businesses. Yet, many entrepreneurs are puzzled with details like: How does it work? How much coverage do I need?

Caron Beesley at SBA.gov in “General Business Liability Insurance—How it Works and What Coverage is Right for You” spells out the abc’s of this insurance coverage.

General Business Liability Insurance

What protection does it afford?  How do you determine your coverage needs?  How does it work? Liability insurance (also known as Commercial General Business Liability) protects a company’s assets and pays for obligations – medical costs, for example –incurred if someone gets hurt on your property or when there are property damages or injuries caused by you or your employees. We live in a litigious society and even if you think you’re unlikely to face a claim, getting insurance is a wise investment that doesn’t cost much – annual premiums range from $750 to $2,000 depending on your line of business and coverage needs. Via sba.gov

Protecting Through Preventing

There is a proverb that teaches:

It is better to try to keep a bad thing from happening that it is to fix the bad thing once it has happened.

Keeping these wise words in mind, here are a few of preventive steps to keep your business out of liability issues:

• Write a maintenance procedure that includes a regular schedule to check for hazards that could cause an accident. Keep written records when something is repaired or replaced.
• Train your managers and employees be on the lookout for potential hazards. Make certain they know how to report a problem and how to alert customers to avoid it until it’s fixed.
• Make sure parking areas, entrances, aisle and hallways are well lit.
• Review your business liability insurance periodically. Remember that as your business grows, you may need to increase your commercial liability coverage.