What Illinois Business Owners Need to Know About Personal Injury Liability

For business owners, the responsibilities are never-ending. There are so many things to think about that some tasks get put on the back burner. You may currently be focusing on sales, customer satisfaction, marketing, or streamlining your business practices. However, you may not give much thought to the possibility of somebody being injured on your property.

Although it is often seen as a lesser priority, it is crucial for business owners to reduce personal injury liability as much as possible. The best way to do this is to take proactive measures to reduce the chances of an injury or accident while simultaneously planning for the possibility of an injury or accident.

Limit Your Liability by Choosing the Right Business Structure

The first step in protecting yourself from business debts and lawsuits is to create a separate legal entity for your business. If you do not choose a business structure, you are a sole proprietor or general partnership by default. These business structures do not give you any protection, so if you are sued, your personal assets could be on the line. Many new business owners choose to set up a limited liability company which creates a separate legal entity and offers some protection. However, as the name implies, an LLC only provides limited protection from business liabilities. Work with a business law attorney to determine the right business structure for your needs.

Ensure Your Premises Are as Safe as Possible

Many new business owners are excited to have any space in which to operate their business. They may not be particularly concerned about having the newest and best facilities. However, it is crucial that your property is reasonably safe. Look out for risks such as obvious slip and fall hazards, unsafe stairs or steps, missing handrails, and parking lot defects that could cause someone to fall. Make sure you and your staff are on the same page regarding safety protocols, and ensure that your staff is not putting themselves or any customers in danger.

Consider Purchasing General Liability Insurance

Although you should be taking steps to reduce the possibility of an injury on your property, it is important to also prepare for the possibility that someone is injured. Workers’ compensation insurance is required by Illinois law. However, this only covers employees, not customers or visitors to your business. You may want to also purchase commercial liability insurance that can protect your company in the event of a personal injury lawsuit.

Contact our Naperville Business Law Attorneys for Help

Protecting your business from personal injury claims is just one of many legal considerations you will need to address. Fortunately, you do not have to figure everything out on your own. Our Naperville business lawyers can discuss your options and help you formulate a plan to protect your business and give you the best chances of continued success. Call 630-756-1160 for a confidential consultation to get started.

Source:

https://www.forbes.com/advisor/business-insurance/general-liability-coverage/