Save Money By Being Proactive

We live in a world that could be described as “sue happy”. People are ALWAYS looking for a reason to enter into a lawsuit.  Coffee being too hot. Careless Falls. With just a quick google search you can drum up hundreds of frivolous lawsuits. There is no reason, though, that you should have to endure lawsuits and the threat of financial penalties. There are steps that you can take to solve problems and save yourself tons of money In the future.

Identify problems before they happen

99% of the time, lawsuits can be identified before they even happen. Do you see a spot on the sidewalk that has begun to buckle? This could present a fall hazard. If you see a problem, fix it! Procrastination is what gets most owners in the most trouble.

Carry sufficient insurance

Insurance will be of absolute no use to you if you don’t have enough of it. How do you know if enough is enough? In the world we live in today, a million dollars plus will be sufficient to protect you regardless of what happens. Remember, most suits are brought on a contingency basis, and you will need to have enough to cover your attorney, which doesn’t come cheap.

Watch for opportunities for permanent solutions instead of quick fixes

It is advisable to fix a problem with a permanent solution as opposed to a quick fix. Why? Because your end game goal is to have all risks from the property removed, not just glossed over. If someone hits the corner of the building, don’t just patch it! Put up a barrier to stop it from happening again. Putting the money and time into it the first time around will save you time and money in the long run.

 

There are plenty of steps that you can take to avoid any bigger problems from happening. Do all you can to preserve the reputation of your facility, save you money, and help you sleep well at night.

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