Whether you own a small or large business, it may be in your best interest to ensure you have medical expenses covered if an accident occurs on the premises. Unfortunately, there are some things that you just don't have any control over, even if you think all hazards have been eliminated so that accidents do not occur on the business property.
But even when you've done all that you can to make sure everyone who walks into your business is safe, you can still be sued for any accidents that may occur. The accident may occur within your business or could occur as a result to exposure to your products. Accidents are not intentional, so protect yourself against them by being insured.
Cost of Care
When someone is injured, the medical portion of your general liability insurance or hired auto coverage will cover the cost of care of that bodily injury. This helps to keep your name out of the news for a lawsuit. Even if death occurs, you can provide restitution for the death to the family of the individual. This restitution can cover the funeral expenses and any other expenses up to the limit of your policy. This is one reason why you want to make sure you have reasonable limits. Without reasonable limits, you could still find yourself held liable for a portion of the expenses out of your pocket.
Basically, when an individual is injured due to an accident that your business may have accidentally caused, there may be lawsuits. If you are accused, your medical coverage will cover the medical expenses. The moment an accident occurs, you do need to contact your insurance company so that they can go ahead and start preparing for the claim. This will make the process move much faster so that you don't have to worry about it for very long.
Keep in mind, however, that the cost of medical care is very expensive. How much your insurance company pays out depends upon the severity of the injury. If an individual falls and hits their head, they may have a neck injury or could even have a brain injury. Such injuries can require surgeries and physical therapy that costs in the tens of thousands, if not the hundreds of thousands over time.
The Legal Claim
You should know that the claim is going to possibly cost a lot in the way of defense and court expenses. Fortunately, your insurance covers this as well. Witness fees, attorney fees, police report fees, and any other expenses as a direct result of the defense of your business can be covered.
You do, however, have to make sure that your limits are high enough. Know that when a person sues for damages, the damages can be quite extensive. Companies have been known to have to pay out a lot more than they expect. It is ideal if you check with the state regarding injury cases to see what has been awarded to those who have filed claims citing that they were injured due to the negligence of the business. This will give you an idea of how much protection you will need. You definitely don't want to be caught without enough.
So make sure you are adequately covered so that you don't have to pay any legal expenses out of your pocket. The only medical expenses you should be paying out of your pocket are the payments you make on your insurance premium. It is that insurance premium that is going to make a difference for your business in the case that a legal claim is brought against it.