The right insurance policy is key for the long-term success of your business. Unfortunately, a majority of business owners make assumptions with their coverage that costs them in the long run. If you assume that most common risks fall under your general liability package, you might want to take a closer look. In certain circumstances, someone who is injured on your property due to defective materials or other conditions might not fall under your current coverage.
Premises Liability Coverage Explained
According to experts in the insurance industry, premises liability coverage is required for a majority of businesses. With this type of insurance, you are protected in the event that someone is injured on your premises due to negligence on your part. For example, failing to make a necessary repair to a staircase that leads to a fall can be a circumstance where you absolutely need liability insurance for premises. Additional scenarios when this type of coverage protects you and your business includes:
- Common slip and fall incidents
- Injuries caused by snowfall or ice
- Bites and injuries sustained due to pets
Keep Your Business Protected
Though you might believe your current insurance plan covers you in all commonplace situations, you may find you are wrong. Learn more about covering the premises of your business with the right insurance and discover how to stay safe.