4 Tips for Preventing Small Business Insurance Claims

 

Small business owners are responsible for many things geared toward making their business a success and, as a small business owner, you're responsible not only for increased sales and cost reductions but also for managing risk.  A big part of managing risk is to be covered by a comprehensive small business insurance policy that protects you from suffering a variety of losses, one of which may be liability lawsuits.

Your Greensboro small business insurance policy is absolutely something you want to have but also something you never want to have to use.  Without proper protection, however, a serious claim against your business could essentially close down your complete operation.  But smaller claims such as those for a slip and small injury, which is one of the most common, or theft of merchandise or equipment, are not only troublesome but can cost you money in the form of higher premiums.

Tips for Preventing Small Business Insurance Claims

Here are some things you can use to help prevent small business insurance claims:

1. Burglary and theft are the most frequent causes of property loss claims submitted by small businesses, accounting for about 20% of all claims filed.  The best way to mitigate these losses is to introduce some simple security measures such as sturdy locks for all doors and windows and also for any sensitive areas.  High-quality electronic surveillance equipment can be used to guard your business both during and after business hours.  If your employees make bank deposits, it's a good idea to incorporate the buddy system.  Employee dishonesty can be countered by providing a good working environment and fostering high employee morale.
2. Slip-and-Fall Injuries are some of the most common injuries for which claims are made against small businesses.  The more foot traffic your business has, the more vulnerable you are to facing this liability claim.  Good housekeeping is a primary factor in avoiding these injuries.  Inspect for and repair any loose steps or handrails.  Slippery floors should be well marked and any clutter should be avoided.
3. Other injuries caused by unstable product displays or heavy goods falling from high shelves may be alleviated by regular inspections to prevent these problems.
4. Businesses that use vehicles as part of doing business can be held liable if one of these vehicles becomes the cause of an injury or property damage.  Only qualified persons should operate these vehicles and regular driver training should be provided.  

Is Your Teen Really Ready to Drive? 4 Considerations

 

When your youngster is a teenager and wants to drive, it's important that they understand an important concept.  While driving may be a teen's rite of passage, it shouldn't be considered a right, but rather a privilege, which must be earned.  As a parent, what you want to ask yourself is, at their current stage of development, is your teen ready to take on the responsibility involved with driving.

While age is a primary factor in determining who can drive, it's by no means the only factor.  It doesn't matter if your son or daughter is old enough to drive legally if they're not mature enough and responsible enough to handle what's required to drive a large motorized vehicle capable of causing death and destruction in the wrong hands.

Teen years can be a very challenging time in many ways, including:

• Learning to deal with emotional stress
• Academic stress
• Peer pressure
• Problems with parents

Some teens may be capable of handling the responsibility of driving at age 15, while others may be lacking in necessary judgement even at age 18 and beyond.  As the parent, this is on you to determine, keeping in mind that one of your prime duties is to keep your child safe from harm.

North Carolina Teen Drivers

The State of NC has one of the safest and most comprehensive licensing systems for teen drivers of any state.  It's a three-level graduated system that allows teens aged 15 to get a learner's permit after fulfilling several requirements.  See those requirements here.  Then the teen works his or her way up toward receiving a full provisional license.

Considerations to Help Determine Your Teen's Readiness To Drive

1. Does your teen consciously know what's going on around him and act/react accordingly?  Does he have good peripheral vision and the ability to predict the behavior of others?
2. Driving competency must include the ability to be alert and tuned into one's own surroundings; to be a defensive driver, immediately reacting to all situations involving other drivers' behaviors.
3. How well does your teen follow rules and regulations?  Do they respect authority and keep their word?  A teen who defies authority and can't follow rules might not be ready to take on the responsibility of driving.
4. Does your teen have good manners and a good general attitude?