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Are you a business owner? Are you ready for some startling statistics? Forbes says that around 36% to 53% of the small businesses in America are going to face a lawsuit each year. At any point in time, 90% of all small businesses in the USA are involved in litigation. Americans are some of the most litigious people on the planet. If you own a business, the question is not if you will be sued but when you will be sued.
Risk of Workers Suing
As long as you are not negligent, the risks from on-the-job accidents that can cause serious injury and/or death is why you need to have workers’ compensation insurance. It is the law that you must have this type of commercial insurance if you have just one employee.
Risk of Clients, Customers, and Strangers Suing
This risk is more severe because usually, you do not know about the problem until after it arises. If a clumsy customer falls down at your business, even if it is their fault, you may have exposure to a lawsuit.
This is why, even though it is not a legal requirement to have general liability insurance for your business; still, you must have it. A business owner would have to be crazy not to carry general liability insurance and risk everything they own.
General liability insurance is one of the most important types of insurance for a business. It is the foundation upon which all other insurance coverage is built. Work closely with your agent at Martin Insurance Team, serving Evergreen Park, IL, and the surrounding area, to make sure your coverage is adequate.
Your agent will conduct a thorough commercial insurance review and make suggestions of what level of general liability insurance is appropriate for your business as well as suggest other commercial insurance that goes along well with it to increase your protection from other risks.
Contact your agent at Martin Insurance Team in Evergreen Park, IL to get a quote for general liability insurance and for all your other commercial insurance needs.
