Reader’s Question:

I have a retail store here in Chicago IL and one of the stores in our neighborhood had been sued by a customer because the customer’s child had slid on wet floor. The child was seriously injured and the complaint affected the stores operation. I’m wondering: are there insurance that covers such incidents?

Johnson

Chicago IL

Good question, Johnson

There is definitely a commercial insurance for such incident. In fact, it is one of the most common commercial insurance. It is called the liability coverage.

The liability coverage is an insurance used to protect the business from liabilities. The commercial insurance for liability can protect cases like you stated above against lawsuits. It can also be used to pay on medical bills for the injured third party. If your neighboring store has a commercial insurance with this kind of coverage, it would not have problem meeting financial obligation of the complaining customer. However, if it doesn’t have, he may have to use the store’s income or his personal money to meet the obligation from which his business is liable. It is in these cases that the commercial insurance will really be useful.

So if you do not have liability coverage in your commercial insurance yet, it would be advisable to get one. Your neighbor’s experience already demonstrates the importance of getting such coverage on your commercial insurance in Chicago, Illinois. By the way, just for added information; the liability coverage does not cover injuries of personnel or worker of the store. The coverage for this case is called worker’s compensation and this is directed towards the protection on the personnel or workers of the business.