Controlling liability risks within a small business offers a number of key benefits.


In particular, it helps you avoid costly business insurance claims and missed customer connections. Yet, as a business owner, it can be hard to recognize each one of the risks your company faces. In order to ensure you have the right amount of small business liability insurance, then, you need to outline what risks your company could face.


Typical Small Business Risks

Most companies benefit from working one-on-one with their business liability insurance agency to discuss their risks. As you do so, you’ll identify a variety of risk factors most small businesses face. This includes:

  • Trips and falls
  • Injury from a product failing
  • Poor workmanship when providing a service
  • Safety risks on your job site
  • Injury or death to a customer consuming your product

These are just some high-level risks that could impact your business’s need for liability insurance. Look further, though, when it comes to outlining all risks.


Additional Business Risks to Identify

It is up to you to minimize your liability risks within day-to-day operations. Here are a few steps to help you to do that.

  • Identify procedures and processes you use. Could you improve the amount of oversight and training you provide to ensure there’s less risk?
  • Identify any unsafe conditions or products around your location. Any instances in which someone canbe hurt is a concern to address.
  • Talk about complaints of discrimination or harassment. Learn about risks associated with the way your employees treat customers.
  • Update your security measures to ensure that your customer’s personal data is not at risk.
  • Maintain a safe property by monitoring lighting, exits, carpeting, floor conditions, overall housekeeping, and walkways. Be sure the parking lot is well maintained, too.

It’s important to recognize that small business liability insurance is there to help you when these types of risks slip by. The general liability insurance for small business coverage you have will help you with most of these claims. However, it’s always better to take steps to minimize the likelihood of these risks occurring.

If you’re unsure of what types of risks are present at your business location or in your operations, ask our insurance agent to give you some guidance and perhaps even a walkthrough. This is the best way to learn what your risks are.