Slip-and-fall accidents can hurt customers, cause big headaches for you and even land you in court.
Customer slip-and-fall incidents account for about 10 percent of small business claims at an average price tag of $20,000, according to claims data from The Hartford. If the customer files a lawsuit, which happens about 35 percent of the time in general liability claims, that amount can easily increase to $75,000 or more.
Fortunately for small business owners, there is a way to financially protect your business. Business insurance covers the cost of slip-and-fall accidents that happen to customers, guests and others—such as a delivery driver—who stop by your business. The insurance will even cover you if you get sued. What general business insurance does not pay for, however, are employee slip-and-fall accidents. Employee injuries must be covered by workers’ compensation insurance.Read More »Prevent Slip-and-Fall Accidents from Tripping Up Your Business