5 Ways to Protect Your Small Business from Liability Risks

As a small business owner, it’s your responsibility to protect your business against risks that can cause financial loss. This includes liability risks that your Pomona, CA business faces in your local community. These tips from THINK Insurance & Financial Services can help safeguard your business against liability claims that can affect your bottom line.

Maintain a Safe Business Environment

Put safety first when it comes to your business environment. A safe environment will reduce the risk of accidents on your business site. Make sure your employees are on board in maintaining a high standard of safety for your customers.

Document Everything

Keep accurate records of all business transactions to include emails, phone conversations, letters, etc. to avoid misunderstandings in business transactions that can lead to a breach of contract and lawsuit.

Don’t Make Slanderous Statements

Be careful about the statements you make in public to avoid problems with slander. Slanderous statements can easily lead to lawsuits. In like manner, avoid doing business with people of questionable character as it could tarnish your business image.

Hire a Skilled Attorney

Hire a business attorney so you’ll have competent legal aid in the event of a lawsuit. Make sure your attorney is familiar with laws in your local area and experienced with business issues in your industry.

Purchase Commercial Liability Coverage

Make sure you have the right commercial insurance to protect you against liability claims. General liability covers accidents on your business site. If you produce or sell products, you may need product liability to protect you against faulty products that can cause injuries. If you offer professional services, E&O coverage will protect you against a lawsuit for negligence in the services you provide.

For more information about commercial liability coverage for your Pomona, CA business, contact an agent from THINK Insurance & Financial Services today.