Three Common Liability Claims Every Business Might Face

Business owners must face the fact that sometimes problems will arise within the scope of their operations. These might lead to lawsuits lodged against your company by dissatisfied customers, disgruntled competitors or other third parties. You must be prepared to respond to such issues even at times when you don’t think you are responsible for the claimant’s losses. 

To do so, you should invest in commercial general liability (CGL) insurance. It’s there to help you secure your own finances while remaining responsive to customers. Let’s take a closer look at some of the most common incidents that might arise and lead to general liability claims. 

Danger One: Customer Slip and Fall Injuries   

One of the most common triggers of a customer lawsuit is a slip-and-fall accident. This might arise after a customer falls in your business and sustains an injury of some sort. They might sue you to cover their medical bills, lost income and other losses. The costs of fighting and settling these claims, therefore, can be exceptional. Even if the claim has no merit in court, the costs of fighting back might be reduced substantially by making a claim on your liability plan.   

Danger Two: Product Liability Claims   

Any business that makes a product needs this coverage, and it’s often included as part of most general liability policies. It addresses the fact that sometimes these products might have undetected flaws that could cause someone harm. At this point, a product liability policy will offer the terms that will allow the business to those affected by these challenges.   

Danger Three: Personal Harm   

You seek to have professional, mutually beneficial interactions with all of your customers, competitors, vendors and other parties. However, you can cause them harm in more than just physical ways. Sometimes, they might feel that you libeled or slandered them, caused a copyright infringement or engaged in false advertising. At this time, their lawsuits might prove astronomically expensive, and you have to be able to address the claim.   

When securing your business, it is important to be prepared for anything. Still, while you can do a lot to minimize the risks of third-party harm occurring, you cannot eliminate them altogether. Therefore, you must purchase a liability insurance portfolio will help you comprehensively blanket yourself in benefits.    

As the provider of services to others, you have to realize that the customer comes first, and if something were to go wrong, it would be you who would have to pick up the pieces. That’s why you must not think of your liability benefits as irrelevant. They’re some of the most important that your business can carry.