If you run your own clothing store, a boutique for example, then you of course have a lot of unique items that you have to safeguard with commercial insurance. However, your customers are your bread and butter. If you cause a problem for one of them, then you might lose a customer who might also demand compensation for their losses. How can you use your business insurance to your advantage in these situations?
No clothing store is perfectly safe, and you must remain vigilant to make sure everyone remains safe at all times. However, if the worst does happen, then make sure you have general liability insurance to cover any eventuality. Liability coverage is one of the most important benefits that any business that cares about its customers can carry.
The Accident Risks in Personal Clothing Stores
You might not run a department store or large clothing outlet. Instead, you might have a boutique that is much smaller, and offers each client a high degree of personal services.
These stores are a lot more intimate, and you probably strive to make each customer’s experience a satisfactory one. However, because this is your store, you have a high degree of responsibility for anything that might happen to a customer once they enter it. Just a few of the hazards that might threaten your customers include slip-and-fall risks in bathrooms or walkways, or head injury risks from objects that fall off high shelves.
When a client gets hurt as a result of these hazards, they might demand that you compensate them for their losses, and some might even sue you. Legally, you might have to repay them. After all, the accident in your store might cause them incalculable medical bills, lost income and other financial strains.
In this situation, general liability insurance can guarantee your business’s ongoing financial security, even as you work to compensate someone harmed by your mistakes.
Understanding General Liability Coverage
Liability insurance is designed to help the business extend financial settlements to those harmed by the business’s mistakes or negligence.
Even if you did not intend for someone to get hurt in your business, you still might have to compensate them. Your liability insurance will therefore cover several different losses. These include:
- Bodily injuries: This coverage will compensate others who get hurt in your business. Additionally, some plans include coverage for injuries caused by your products.
- Accidental medical payments: This coverage will pay for someone’s injury costs regardless of whether the business was actually at fault for the injury.
- Property damage: Through your services, you might damage someone else’s property. However, this coverage can help you cover these losses.
Additionally, this coverage will also usually pay your legal expenses in the event of a liability lawsuit. Therefore, you won’t have to spend incalculable capital as you try to respond to someone else’s complaint against you.