Have you ever run into a problem with your property that ended up costing more than you expected? It’s an all-too-common occurrence, but fortunately, there’s something you can do to protect yourself against the worst of it – premises liability insurance coverage.
What is premises liability insurance coverage? This article will explore why having proper premises liability insurance is indispensable for both financial safety and mental ease. It will dive into what a policy covers and how you can attain coverage that suits your unique needs. Additionally, some advantages of enlisting an attorney when handling claims or disputes will be discussed.
If you find yourself in a situation that revolves around premises liability coverage in Hollywood, Florida, be sure to contact the Law Offices of Jared Spingarn, P.A. Jared’s team can guide you through the process to ensure that you are checking all the boxes in filing a claim.
What is premises liability insurance?
Essentially, premises liability is a type of insurance coverage that protects you from any legal or financial liabilities resulting from an incident occurring on your property. Premises liability applies to both commercial and residential properties. Not only does this provide peace of mind in the event of an incident, but it can also save you, the business owner, from having to pay out large sums of money should a problem arise.
Premises Liability Claims
Premises liability can be filed for a variety of reasons, including but not limited to the following:
- Slip and fall accidents
- Inadequate security measures
- Negligent maintenance of the property
- Dangerous conditions on the premises
- Assaults or other criminal activity
- Defective products used on the premises
- Fires or explosions caused by negligence or improper safety procedures
- Animal bites
- Accidents involving recreational activities
- Defects in construction or remodeling work
Do I need a premises liability policy?
Property owners should always consider purchasing a premises liability policy to protect themselves from potential liabilities. If you own or manage a business, this is especially important as you may be held liable for any accidents that occur on the premises. In addition, if your property contains any hazardous materials or conditions that could result in an injury or illness, it is essential to have a policy in place.
Finding the Right Coverage in Hollywood, Florida
When looking for a premises liability policy, a property owner must consider their specific needs and risk factors. Consider what types of incidents could arise on your property and make sure you purchase enough coverage to protect yourself should a premises liability accident occur.
Duty of Care and Premises Liability
As a property owner, you must guarantee the safety of all who enter your space. This duty requires taking proactive steps to anticipate and prevent any potential accidents or injuries from occurring on the premises. Usually, visitors are divided into two groups: invitees and licensees. Each group is entitled to distinct duties of care when visiting your domain.
Invitees
Invitees are people who have been invited or have permission to enter your property, such as customers or guests. As the property or business owner, you must take reasonable steps to ensure their safety while on the premises and warn them of any known hazards that could cause harm.
Licensees
A licensee is someone who enters your property without an invitation but with your permission. The duty of care owed to a licensee is slightly lower than that of an invitee, but you must still provide reasonable safety for them while on the premises and warn of any known hazards.
It is important to note that when children are present, the responsibility of care is heightened no matter if they have been invited or have come of their own accord. Since children do not usually understand potential hazards on a property, it is essential to be mindful and take all necessary steps to guarantee safety when young guests arrive.
But if a trespasser enters your property and is hurt due to their own negligence, you might not be responsible for any damages. However, each case is different; speaking with a legal expert can help determine your liability in such an occurrence, so be sure to get in touch with an attorney from Jared Spingarn’s law firm for expert advice.
Overall, if you fail in the duty of care, you may be held liable for any resulting injuries or losses, such as medical expenses, lost wages, or property damage. That’s why it’s important to purchase adequate premises liability coverage to protect yourself should an accident occur on your property.
What is not covered in premises liability?
Although premises liability covers a variety of risks, there are specific incidents that it does not cover, such as:
- Professional services rendered while on the premises: This includes any services provided by a contractor or professional such as an electrician, plumber, doctor, etc.
- Defamation: This refers to someone making false and damaging statements about another person on your property.
- Intentional misconduct: This will not be covered if you intentionally harm another individual while they are on your premises.
- Criminal activities: If someone is injured or their property is damaged due to criminal activity on your premises, this will not be covered.
- Injuries caused by faulty products: If a consumer is injured due to a faulty product while on the premises, this will not be covered.
- Losses due to natural disasters: If your property is damaged by a natural disaster such as an earthquake, hurricane, or flood, this will not be covered.
- Fines and penalties: If you are fined or penalized due to a violation of local, state, or federal laws while on the premises, this will not be covered.
- Contractual obligations: If someone is injured due to a breach of contract while on the premises, this will not be covered.
- Cyber-attacks: This will not be covered if someone’s property or identity is stolen due to an online attack that originated from your premises.
- Liquor liability: If someone is injured or their property is damaged due to alcohol consumption on your premises, this will not be covered.
To guarantee your business is fully protected, it’s a wise idea to get commercial general liability coverage as part of your business insurance, in addition to premises liability insurance, since there are numerous risks that the latter does not cover.
What are the regulations for shared premises?
The laws governing shared premises vary from state to state. Generally, each owner is responsible for their own liability risks. Still, the landlord or primary tenant may be held liable if they have knowledge of any hazardous conditions on the property and fail to take action.
Before signing a contract, all parties involved in a tenancy agreement must understand their respective liabilities and responsibilities. It is also important to ensure that all parties are adequately insured against potential liability risks.
Is general liability insurance the same as premises liability?
No, general liability insurance and premises liability are two separate types of insurance coverage. General liability insurance covers a variety of risks, such as injury or property damage caused by negligence while doing business activities.
Premises liability insurance is specifically designed to cover any losses or damages resulting from accidents on the premises owned or leased by an individual or business.
Tips for Reducing Premises Liability Risks
Follow the tips below to reduce your risk of being held liable for any damages or injuries that occur on your premises.
- Adequately maintain the premises: Regularly inspect and repair any potential hazards, such as loose floorboards or broken stairs to prevent accidents.
- Provide adequate signage: Install signs warning of potential dangers if they exist on the premises (e.g., wet floors, electrical cords, etc.).
- Limit access to certain areas: Establish a policy that restricts access to hazardous areas or equipment unless someone is properly trained to handle them.
- Provide adequate lighting: Make sure hallways, stairwells, and other public areas are well-lit to prevent accidents.
- Monitor visitors: Have employees or security personnel monitor visitors on your premises.
- Offer safety training: Provide employees with appropriate safety training to ensure they understand the risks associated with their job and how to prevent them.
- Establish a written policy: Create a comprehensive written policy that outlines expectations for visitors and employees, as well as liability protections for the owner.
Why is it important to contact a lawyer?
It is important to contact a lawyer if you are unsure of your rights and responsibilities as the owner or tenant when it comes to premises liability. Speaking directly with your insurance company can cause all sorts of misunderstandings, or, worse, mishandling of your case. An attorney can explain the legal jargon to you to ensure that your business property is well protected in case of an accident.
An experienced premises liability attorney from Jared Spingarn’s law firm can advise you on protecting yourself from potential lawsuits and other legal issues. Jared’s legal team has experience handling all types of personal injury cases, including premises liability cases. Schedule a free consultation with Jared today to learn more about your coverage and how it can affect a premises liability case.
Conclusion
Now that you understand what is premises liability insurance, you are primed to protect your property from any unforeseen issues. Nothing beats being proactive in safeguarding your property or business against potential liabilities in the future. Accumulate helpful knowledge, obtain additional coverage such as business insurance, and consult with an experienced lawyer from Jared’s firm in Hollywood, FL, to guarantee that you’re in the best possible situation.
>> If you’re involved in a personal injury case in Florida, don’t hesitate to reach out to Jared Spingarn, Accident Attorney, at 1-954-781-2316 for a Free Case Review or drop a message on their Contact Us page.