Premises Liability in Commercial Settings: Protecting Customers and Employee

Ensuring the well-being of your customers is essential, but even your best efforts can’t always prevent accidents. You need a safety net to protect your company’s profits when they happen. Premises liability insurance can help you do just that. Understanding what this coverage offers for businesses is the first step in recognizing its value for your company’s risk management strategy.

Understanding Premises Liability

Business owners are legally responsible for maintaining a safe environment for customers, employees, and clients on their property. This responsibility means keeping the property free from any hazards that could cause harm or identifying and marking potential hazards to protect those on the property.

Types of Potential Incidents

For business owners trying to understand the liability risks associated with their property, there are a variety of scenarios where this type of business insurance applies.

For example, slip-and-fall cases are common premises liability claims. Wet floors and uneven surfaces are a couple of the common causes of slip-and-fall accidents. Snow and ice pose similar risks. If you fail to keep your parking lot and walkways clear and treated for slippery conditions, it puts you at risk for liability issues.

Failure to maintain your property or neglecting to repair defects you were aware of can also lead to a liability claim if someone suffers an injury. If you have elevators or escalators on your property, malfunctions that cause harm can put your company at risk of a liability claim, especially with inadequate maintenance and repair records.

Your building and property security also affect your potential liability risks. Negligent security measures contributing to an injury or assault can expose your company to liability claims. Management’s failure to replace faulty security cameras or address complaints about loiterers could increase liability exposure. The same applies if someone on your property suffers a dog bite from a dog your company permitted on the premises. 

Comprehensive liability coverage can also address costs associated with injuries or property damage due to fire, water damage, and chemical exposures.

What Does Premises Liability Insurance Cover?

Understanding the common types of losses that your coverage might address is a start. Business owners also need to understand what the policies cover to appreciate this insurance’s value fully.

Your liability policy will cover the losses associated with common liability incidents, including injuries and property damage. The coverage protects customers and employees. Not only that, but these policies help to cover the cost of legal fees associated with defending the business against a liability claim, negotiating a settlement, and paying for any potential judgments.

Discover the Value of Premises Liability Insurance

Protecting your business, customers, and employees starts with comprehensive insurance coverage, including premises liability insurance. Work with an experienced company such as Provident Protection Plus to assess your company’s risk exposure and identify a policy that fits your unique needs. 

Proactive investment in liability protection will help you protect your company’s financial integrity while addressing unforeseen risks.

About Provident Protection Plus

For more than 65 years, Provident Protection Plus has served businesses and residents across several states nationwide. Today, we are a wholly owned subsidiary of Provident Bank, the region’s premier banking institution. To learn more about our coverage options, contact our specialists today at (888) 990-0526.