The 4 Holiday Hazards Every Business Should Insure Against
Our favorite holiday season is upon us. And it is a time of joy, celebration and opportunity for all – especially businesses. However, it could also bring a set of unique risks if your business is not fully prepared. From increased customer inflow to unpredictable winter weather, unexpected occurrences are likely to happen – leading to the hindrance of your everyday operations. Here are the top 4 holiday hazards all business owners should insure against – to ensure a peaceful holiday season.
Slip & Fall
Whether or not it is due to winter weather, the majority of walkways, parking lots, and floors can become slippery and wet. Your office may be busy due to the increased inflow of customers, and slippery floors during such a time are a no-go. If a customer or client slips and gets injured on your office premises, you are liable. To avoid this, ensure that you maintain safe walkways for your customers, at least on your premises, and that there is signage for them to remain cautious. Furthermore, having General Liability Insurance and Commercial Property Insurance would cover you in such a situation, including the costs of medical bills, legal fees and property damage that has been caused by the slip-and-fall.
An Injured Person
If you have decided to bring on temporary or seasonal workers for the holiday season, remember that you have an additional liability to contend with. Any workers that get injured while on your office premises or performing work for your business, would be your responsibility. Having Workers’ Compensation Insurance during the holiday season can be a lifesaver, as it covers the medical expenses, rehabilitation and lost wages for employees that may get injured while working in a busy environment. Additionally, it would also protect you against the financial impact of any potential lawsuits that may arise from the worker’s end as a result of these injuries.
Short Pause
While we all enjoy the holiday season, it can come with its set of unexpected guests, such as winter storm, power outage or even a technology failure – and that could lead to consequences that are harmful to your business, leaving a significant impact on both your revenue and client trust. The professional service sector heavily relies on your everyday operations and service delivery, and any discrepancies may lead to the suffering of your business and your pocket. Business Interruption Insurance is crucial for such times. It promises to protect you against any lost income and also covers your expenses during periods where your business operations are temporarily unavailable.
Tight Deadlines? Better Be Safe!
The holiday season is busy. Like, BUSY busy. You have much more client interactions than usual, since customers want to get done with most of their projects before the year ends. With such tight deadlines, you are more likely to cause a delay or make a minor mistake – and that may result in disastrous consequences for you – such as a Professional Liability Lawsuit. Professional Liability Insurance, also known as Errors & Omissions Insurance or Malpractice Insurance for those in the medical and legal fields, is perhaps the most important type of insurance that you need as a business owner. If you are managing multiple projects and fail to deliver quality services, a frustrated client is more likely to file a claim against you. To be protected against such situations, having Professional Liability coverage can save you and your business against many losses, such as the costs of legal fees, settlements, and even your reputation.
Therefore, review your coverage and protect yourself against claims that are 99% likely to happen, unless you’re just lucky. Feeling overwhelmed? Get in touch with an expert at Professional Liability Insurance Group – and have it all sorted for yourself. We are here to Protect You Better!
For expert advice, contact Shayne Bevilacqua at Professional Liability Insurance Group.
Call or Text us at +1 (877) PLIG – 123, That’s (877) 754 – 4123.
