Between the influx of shoppers and unpredictable weather, the holidays are fraught with business risks. Having the proper insurance in place, however, protects you from the unexpected. Here are four holiday scenarios when business insurance is a must.

Why Are Small Businesses Thankful for Insurance During the Holidays?

1. Shoplifting

Unfortunately, thieves are in full force during the holidays. Shoppers and employees may be tempted to steal expensive merchandise. An insurance policy that pays for the replacement of inventory due to theft is a necessity when the holiday season is in full swing.

Some insurance plans provide discounts for the installation of security cameras and surveillance systems. You have additional incentives to install them during the holidays.

2. Seasonal Hires

Hiring additional employees during the holiday season helps with increased workloads and hours. They also relieve staffing shortages associated with vacationing full-time staff. Both temporary and full-time workers can sue for on-the-job injuries, however.

In most states, workers compensation insurance, which pays for medical expenses and lost wages, is required if your company has a staff of a certain size. If a seasonal employee files a workers compensation claim for a work-related mishap, they agree not to sue.

3. Slips & Falls

Icy sidewalks and lobby floors pose dangers. Slips and falls may result in serious injuries. A customer may sue you for medical expenses and negligence. Without the proper business insurance in place, the responsibility for falls would land on you. To avoid out-of-pocking liability claims, small businesses should have liability coverage designed to pick up the tab for treatment, wage loss, applicable attorney fees, and financial settlements. 

4. Winter Weather

Strong winds and dangerous ice may damage your property and premises. A standard business insurance policy provides financial protection for damaged roofs and windows by paying for repair and replacement costs. You can tailor your coverage to cover business-related vehicles if damaged by wicked winter weather.

Patton Insurance Group in Springboro, OH, understands the unique needs of small businesses. From restaurants to high-risk trucking companies, this independent agency partners with the nation’s leading insurance carriers to provide clients in southwest Ohio with customized and affordable coverage. Their team of experienced and friendly agents looks forward to seeing you. Call (937) 886-9966 to request a quote, or visit their website to learn about their business insurance services.