Owning a restaurant comes with inherent risks that you might not even consider. A wet floor that causes a customer to fall and get injured can be enough to ruin your business if you are sued because you don't have liability insurance. As part of your license to have a business in your state or municipality, you may have commercial insurance coverage regulations that you must follow in order to open for business. From customer injuries to administrative needs to handle claims, you want to make sure that you have the right coverage in place to protect your business and continue the success you have started.
When a Customer Gets Hurt
If a customer gets hurt on your property, it'a likely that you're going to be held liable for the injuries they sustain. Poor lighting, wet floors, or other hazards can all cause an injury, and your business is going to be held responsible for taking care of the injuries. The customer may need significant medical care, and your liability insurance will cover these costs. If the customer decides to sue your business in a personal injury lawsuit, your liability coverage can cover your legal costs associated with the claim. Commercial liability insurance is a necessary cost of doing business.
When an Advertising Injury is Alleged
Your competition may decide to file a claim, stating you have stolen a recipe or you are engaged in slander. These types of cases cost money in legal fees and can take years to settle. When you have commercial liability insurance in place, the cost of litigation is managed by your insurance company. You're protected against false claims that state you have infringed on a copyright or have invaded the privacy of your competition.
If Property is Damaged
There may come an incident where the property of an individual is damaged because of your business. If a person files a claim to recover the cost of property that has been damaged, your liability insurance deals with the claim. If you don't have the right coverage in place, you could end up paying personally for property damage caused by your business.
Commercial liability insurance is a cost of doing business in today's world. With the right insurance in place, you won't be held personally responsible for injuries sustained on your property, and you will get the legal representation you need if you are brought to court for slander, stolen ideas, or personal injury claims.
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