Every premise owner risks liability claims on account of injuries or property damages that happen on his property. Slips and falls in retail stores make up a majority of such accidents, and some of these can be serious. A visitor can get injured anywhere on the premises – inside a shop or office, in the lobby area, or outside in the parking area, play area, etc., despite the fact all business owners take reasonable care, as expected, to ensure that their visitors are safeguarded.
Though business owners leave nothing to chance and buy an insurance policy, our experience suggests that very often, most of them neither think through the policy before buying it nor do they reconcile it with Utah’s premises liability laws. The result is that most owners end up paying claims that are often higher than they bargained for.
Our group, comprised of Utah’s experienced premises liability attorneys, pooled everyone’s knowledge and created this insurance guide that can help owners choose an appropriate insurance policy:
Include “Endorsements”
Typically, business owners end up buying a general $30–40/month policy without going into the details. They should ideally ensure that the specific dangers or vulnerabilities inside their premises are covered. General liability insurance policies often exclude specific situations, and therefore premises liability attorneys in Utah recommend that owners pay an extra premium to cover endorsements (unique risks not covered by the policy) – for example, dangers arising out of spilled drinks, asbestos emission, delays on the part of maintenance contractors, a hotel guest slipping and falling on a wet floor, loose handrails, overgrown vegetation, etc. The uniqueness of each risk depends on the type of business.
Check Policy Limits and Sub-Limits
All policies have a maximum limit, an occurrence limit, and a sub-limit (the amount that the insurance company will pay for specific accidents, or per occurrence, subject to a maximum upper cap). Premises owners have to rely on their experience and analyze the dangers posed by their property, and then select a policy with limits that can adequately cover all potential claims.
In many cases, business owners opt for a business owners’ policy that includes liability claims and commercial property damage claims. Such policies are packed with many clauses and fine print, and therefore, business owners should thoroughly check such policies to ensure that damages to their property, business, and third-party injuries that occur on their premises are adequately covered.
Check the Fine Print
Some general liability policies do not provide for seasonal increases (for example, a shopping surge during Christmas has the potential to cause more accidents). Most policies contain coverage restrictions. Then, each policy has its unique way of dealing with burglaries and trespassing.
Most business owners do not pay attention to the finer points mentioned above and end up buying a policy that may be inadequate to cover liability claims. Remember, the value of an insurance policy is not found in its price, it always lies in its details.
Finally, our Utah group of experienced premises liability attorneys recommends working with a highly rated and trustworthy insurance company.
CALL US FOR A FREE INITIAL CONSULTATION
If you need more clarity on how to buy an insurance policy that covers premises liability, call us for a free initial consultation and our Utah-based team of premises liability attorneys will be happy to guide you.
Contact us now to set up a free, no-obligation, and no-pressure session with our team of experienced attorneys and discover the difference we can make.
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