For restaurants and retailers, the holidays are the busiest time of the year. But the increased business and revenue boost comes with the added risk of accidents and other perils that can eat into your bottom line. Below are a few reasons you should review your business insurance policies and make any adjustments before the holidays arrive.
4 Added Risks the Holidays Might Bring
1. Slip-and-Fall Accidents
Many stores see dramatically increased foot traffic during the holidays, increasing the chances that someone will spill something in a walkway. If your staff can’t get to the mess before someone slips and falls, you can be held liable for any damages and legal expenses that could force you to close for good.
Criminals often use holiday shopping crowds to their advantage, collectively stealing over $6 billion during the season. Fortunately, your business insurance policy will cover inventory losses due to theft, including shoplifting and employees stealing from the stockroom.
3. Temporary Hire Injuries
Many businesses rely on seasonal hires to fill out their workforces during the holiday season, many of whom might not have the experience and training of your full-time employees. If they’re injured on the job, your worker’s insurance policy will cover their medical expenses and lost wages, insulating you from expensive lawsuits.
4. Dangerous Winter Conditions
The holiday season brings snow and ice to most parts of the country, which can pose a threat to customers and people walking by. Your business insurance policy’s liability coverage should cover anyone injured by icy sidewalks or hurt by falling icicles.
For over 60 years, the agents at Siemers Insurance Agency, LLC have provided tailored coverage to business owners throughout the Cincinnati area. As an independent agency, they work with some of the best business insurance providers in the industry, giving them access to a wide array of policies. Visit their website for more on their business insurance services, get more tips on Twitter, or call (513) 469-8877 to discuss your options and schedule a policy review.