Saturday, July 3rd, 2010
If a business owner does not have adequate liability coverage for his business, he may stand to lose thousands of dollars in a slip and fall lawsuit in the event that someone is accidentally injured on the business premises. The last thing that any manager or business owner wants to ask himself when someone is injured at his business is a question like "does renters insurance cover the insured in a slip and fall injury in ?" If you have been wondering if renters insurance covers the insured in a ship and fall injury, here is what you need to know.
The first thing to understand with when you are asking does renters insurance cover the insured in a slip and fall injury in is that it depends on what type of renters insurance you have. Renters insurance contracts cover slip and fall injuries through personal liability coverage. Personal liability coverage provides business owners with protection from most lawsuits in which a business is sued for damages that are not related to automobiles or the daily operations of the business. Most types of renters insurance allow a business owner to decide for himself how much personal liability coverage the want to have when he is signing up for insurance.
Since it is up to business owners to determine how much personal liability coverage is included on their rental insurance contracts, it is necessary for business owners to have a solid understanding of how much a typical slip and fall settlement can amount to. If a business owner is unable to prove that a plaintiff was not injured due to the negligence of the business's staff, the average slip and fall lawsuit is typically settled for roughly $2000. If a slip and fall case actually goes to trial and the court decides in favor of the plaintiff, a business can easily be forced to pay well over $100,000 in damages if a plaintiff was seriously injured. While such cases are relatively uncommon, a business owner needs to decide whether the risk of a serious slip and fall injury in warrants paying for higher personal liability coverage.
So, does renters insurance cover the insured in a slip and fall injury in ? It nearly always does. However, it is a business owner's responsibility to understand how much personal liability coverage is included on his rental insurance contract. So long as business owners make the proper investment in time and money to obtain the proper rental insurance, a typical slip and fall will only be a minor speed bump in a company's operations.
Are You a Slip and Fall Attorney?
Join the Exclusive Slip and Fall Attorney Network!