What Should small business owners Understand About Personal Injury Claims?

Small business owners put a lot of time, effort, money, and spirit into their small businesses. While serving customers or clients certainly has its rewards--it can hold risks as well, depending on the nature of a business. What would you do if a customer claimed that a product or service you provided caused them physical or mental harm? What if they filed a personal injury lawsuit against your business? Would your business or family be protected? What Should small business owners Understand About Personal Injury Claims?




Seek Legal Advice Even Before the Launch of your Business. Seek professional, legal advice from the very beginning to ensure that your business puts plans in place to anticipate potential legal issues or challenges that may arise based on your specific business type. Many of us have had limited experience with a personal injury attorney or lawsuit claims! Choosing an attorney early-on allows you to have him or her at the ready should a problem arise or a claim is levied against your business. It is a lot more stressful to seek out a qualified attorney amid a suit or issue than it is to simply have a go-to attorney to call when you need one!


Consider Moving "Up" From a Sole Proprietorship. Ensure that your business is set up in the best way possible to protect your personal assets during the unfortunate event of a personal injury suit against your business. Many one-person entrepreneurs fail to realize that while a sole proprietorship is the lowest cost for set-up and maintenance--it offers little personal protection should your company be sued. I know that the legal paperwork and fees associated with filing as an LLC or a Corporation may seem daunting--or even unnecessary for a small business or single entrepreneur. You may discover that the protections offered by these tasks are well worth the money and effort in the event of a lawsuit.


Hire and Train Your Employees Well. Many small business owners fail to realize that employees' actions often lead to personal injury claims. While you may be extra cautious and well-versed in your business's do's and don'ts, you are also responsible for your employees' actions. Making sure that your employees are not only well trained--but monitored is so essential for small business owners.


Buy Appropriate Insurance for Your Business. Talk with a knowledgeable insurance agent in your area about your specific business insurance needs. Adding additional policies or changing existing policies may be necessary to ensure that your business is protected from an accident or mishap.


Don't Forget About Online Protection. Most small businesses have an online presence--and should make every possible effort to ensure that data, personal information, and public interactions are done with the utmost care. Protecting your clients from online threats is just as important these days as protecting them from slip and fall hazards by your front door.


Personal Injury claims are a big deal to small businesses. Set up appointments with your attorney and insurance agent. Seek out resources from your local small business organization--and put a plan into practice that will protect your customers and clients as well as you, your family, and your small business.