As a business owner, you face several unknown risks, including but not limited to theft, slander, libel, property damage and lawsuits stemming from claims of negligence. For all these reasons and more, it is imperative that you have a sound New Mexico business liability policy in place. Though it is true that an insurance policy requires an upfront and ongoing investment, such an investment is well worth it if it means that your assets and finances are protected in the event that someone—whether an employee or customer—gets injured on your property or accrues damages as a result of your negligence.
Without a proper business liability policy in place, you may be forced to pay out of pocket for legal defense fees in the event that you are sued. For many smaller operations, legal fees alone are enough to drive them into the red. If you lose your case and are found liable for any injuries or damages, you may not only be forced to pay a settlement award, but you may also find yourself responsible for medical costs, the other party’s defense costs and more.
Accidents happen, and even if you take all the proper precautions to prevent them, you may still find yourself in the center of a heated (and expensive) legal battle. Protect yourself by investing in a strong New Mexico business liability policy today.