The legal principle stating that there is a level of accountability for property owners for any injuries or accidents that occur on their premises or property is defined as premises liability. Those businesses will be impacted by premises liability that own business property and can be held legally responsible for the safety of people that are invited to the property. The owners of the property have to compensate individuals of the damages they suffer at their premises, which can prove to be costly for them. Therefore, it is a common practice of most property owners to consult insurance companies and purchase liability products that can provide cover for premises liability accidents.
Some level of potential for injury or accident can be posed by the premises of an individual whether they operate a business out of their home or at another property altogether. Depending on the nature of the business and the location of the property, the level of risk faced by people coming on the property can vary. For instance, in cold weather climates, it is common for people to slip on ice due to which businesses usually take the precaution of shoveling sidewalks, plowing parking lots and remove ice. Another common example is the injuries that occur in amusement parks. The business and property should be considered by the owners when they are planning for safety and accident prevention.
When an accident takes place on one’s property, the condition and status of the injured individual upon entering the premises is considered for determining the premises liability of the owner. A business will be more liable if the individual is an invited guest such as a customer. Trespassers who come onto the premises without the permission of the owner will not get any compensation from the owner if they get injured. Different states now hold property owners liable for injuries or accidents occurring to legal visitors, but not for illegal ones.
When determining the circumstances of premises liability, there are various factors that are considered along with the type and state of the visitor. This includes the effort and reasonable care taken by the property owner for establishing and creating a safe and secure environment for legal visitors. The key issues that are included in these considerations include whether the property was being utilized in the way that had been declared by the owner, whether the owner had warned visitors about any potential danger and whether steps had been taken for eliminating a dangerous condition. The burden of protection will increase for property owners when children are coming as guests on their premises.
Business owners have come to realize that premises liability accidents can give rise to major financial loss for them if they have to deal with a lawsuit. Therefore, they often purchase general business liability insurance, which provides coverage for a wide array of liability areas included premises liability. The amount of coverage is dependent on the type of risk associated with the property.