Liability Risks for Small Businesses

Liability Risks for Small Businesses

The liability concerns small businesses should consider.

Finally, your dream of owning a small business has come to fruition. You have a location, employees, and an ever-improving revenue. As a small business owner, it’s easy to get complacent when thinking about liability risks, especially if you’re in the ‘but it won’t happen to me’ mindset. However, no business is immune to risks, and liability is often associated with extraordinarily high costs. Keep in mind these liability risks that your small business should address.

Cyber Liability

In this digital age, we’re all connected – all the time. Naturally, your business will operate online and store files digitally. However, cyber breaches can occur, meaning that hackers release sensitive information and steal valuable details. Your business is liable for all risks associated with the use of electronic data and the internet. It’s a good idea to improve your business’s online defenses and consider cyber liability insurance cover.

Slips and Falls

If you have guests regularly visiting your business’s location, you are one slip and fall away from being hit with a costly lawsuit. If someone gets injured on your premises or their property is damaged, you could be held responsible. In addition to their medical expenses, you could face legal fees. General liability coverage helps to protect your business from facing these costs alone.

Damage Due to Product or Service Failure

Damage from product failure means that the goods that you developed, manufacturer, or distributed malfunctioned in a way that physically injured someone. Damage from service failure implies that your small business claims a level of expertise that it doesn’t have. Luckily, errors and omissions insurance coverage can help!

Are you ready to receive the right coverage to protect your business from liability risks? Contact the professionals at Lloyd S. Berkett Insurance Agency for quality business insurance. We serve Los Angeles, CA and surrounding cities with reliable coverage.

Lloyd Berkett Insurance

11150 W. Olympic Blvd.
Suite 610
Los Angeles, CA 90064

(310) 857-5757
(800) BERKETT | 237-5388
Fax: (310) 857-5750

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The Lloyd S. Berkett Insurance Agency, Inc. was founded in 1946 by Lloyd S. Berkett. Regarded as one of Southern California’s most successful, well-respected and innovative independent insurance agencies, ... Read More

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