Why You Need to Buy Liability Insurance

Audio Transcription

Want to attend the legendary thrive time show business workshop taught by business coach Clay Clark and the team for free, subscribe on itunes leave. It objected review and send his confirmation at info at drivetime show.Com to claim your business coach tickets want to live in a van down by the river, come by and see us at our riverwalk offices and will be able to make your dreams come truealright, drive, mission, welcome back to the conversation. I am so excited to be here with you today, because I have a tough message to deliver to you other messages. This so much of our show is about growth, marketing sales being successful, the mine said the management, the brandy gets all proactive. It’s all teaching you proactive steps, traction bias, but can you read us the notable quotable shop from warren buffett I just wanted to have you read that and let the the was just kind of marinade on the profundity, the profoundest incredible this of that cuz? This quote:it could be very sobering if you, if you, if you just glance over it, it’s it’s a long one. So bear with me here. Every rule, number 1 never lose money. Roll number to never forget rule number one. When I could do me a favor, could you read it like christopher walken money, tonever forget both number one, that’s pretty good. What’s the first time, I’ve ever tried that I was going to have it in person that you felt so terrible at that i? Don’t really? Okay! You do I want to hear your voice I just important that people don’t skip this idea because I haven’t is people will say:okay, yeah I heard of that really understands. I’ll make sure you get into the marijuana type of the epidermis here. Okay, so forbes says this is forbes shows that 36 to 53% of small business owners in any given year will get into litigation. That’s a third to a half, that’s a lie! That was pretty good. That being said, warren buffett is saying rule number one is never lose money. Will? How do most people lose money?

They lose money by getting involved in litigation. So this is the issue you have to buy liability insurance, so wes I’m going to get into some reallyquestion for you and if, if you don’t know all the intricacies, that’s fine, but you are an attorney or from is represented, I mean big megawatt. You know celebrity business coach people down two small startup small business owner is everyone the middle. So here we go I’m in a car today, driving the hummer and my phone I’m, not on the phone right, but my phone falls off my lap cuz I’m not texting I’m. Just on my phone, the phone falls and so I reach to grab it and when I before i, look up I hit a kid on a bike in the kid is 6and I killed a kid and I feel horrible. I apologize I do everything I can do to apologize. Does the person whose kid I hit have the right to sue me absolutely, and will they win quite like when you lose? How much money are we talking now getting? This is not intoxication. This is not a sober, but this one more time about his negligence, so negligent driving when it does involve, depending on the level of negligence, you can even ride to level criminal charges. Will you get into involuntary manslaughter from a criminal negligence standpoint less likely those are less likely occurrences more time. We were talking about civil money damages.

So if you get a civil lawsuit civil different than maybe a different kind of lawsuit I’m in a civil lawsuit, how is that different than other kind of lost? Two types of law, criminal means money and your liberty road steak, civil you go to jail, you can go to jail, they can do money-wise to civil means, the government not involved. This is me and another private party, soon each other for money or asking the court to make him do something got it so I could sue and I could say was in my I’ve lost my child and I want to make you pay absolutely there’s a myriad of claims. You come up with for damages that you caused that accident accident or not cuz. If you were negligently driving by the way you’re using your phone or reaching down area, I’m driving right now, I’m paying full attention to the car in the road 6 year olds on the bike, I’m driving I can’t really quite see. Cuz the sun just be another sons you drive in the sun’s right there. You can’t see and I hit. A kid still can be suit. Absolute I own, a business and a customer slips and falls in really hurts themselves. I’m. Joking on a previous show winner, a person I called him to do the manatee of business coach humanity, a joke. Remember. This way I dealt with it. They repeatedly, but there’s a woman who knew that our business had cameras and she was more of a small petite. Ladies, she sold multi-level products and she came to book her celebration for a car present. If they give you a new mercedes, when you hit a certain sale total, she came to our office at 91st and lynn lane and I’m, telling smart woman. She looks at the camera and she’s slow motion like the matrix, and you can tell she’s trying to fall on purpose, but she sued, and luckily we got that thing to smith’s cuz the footage and all that kind of stuff, but you can that mean people can sue for anything anything in you can get sued. If you did absolutely everything right, it’s important to know, they can still see you and it’s still going to cost you a fortune to get out of the lawsuit could have to pay someone to go file, a motion to dismiss it.

So what if I have a business that hires, primarily women and one of the women, says that I try to come on to her sexually, like I made it advance in her I tried to bribe her pay her for sex I tried to manipulate her I tried to force her to have it. Even if it’s like I didn’t and I didn’t, do it right been married for a long time. Nobody could verify this get cameras in the stores. You couldn’t see it, but yet they just claim it. Could they sue me? They can’t answer you, yes, and by the time the pr gets out it’s going to have so much momentum that you may not be able to get rid of it quickly, even if you could prove that you didn’t do anything so talk to me about why I have to buy liability insurance that never won an endo. Why do I have to have a business coach relationship with an attorney like you in place before bad things happen? The number one you need liability, insurance and I would say 1a is you need to fill in the holes in your general liability policy? I’ll preach it. So you have exclusion insurance companies don’t like to pay claim that they don’t have to do. I build, is going to cover slip and fall, but they’re separate cover for something like employment practices sexual covers counseling, different things that these general liability policies don’t cover. So have a good insurance agent that can explain your business practices and what you need to fill in the holes for and number 2 is when you get sued or something’s going really wrong right, then that is not the time searching through the phone poker googling for your attorney.

You need a relationship with an attorney, so you can prevent and minimize damage before the curse and I would just tell you this. If you are in business for work, says between 36 and 53% of small business owners are involved in at least one piece of litigation. I mean that I mean that drivers listen to this I was in my team meeting today, working with our business coaches, but I’m involved in some litigation. We’re not going out. So it’s like that’s going on in behind the scenes, as I’m doing a business coac meeting with our business coaches, so not having a relationship with you or an attorney and having documents and place and all those things man that could have been crazy for me, I’ll be so stressed out. I, wouldn’t sleep until I slept like a baby, have done my best and I can forget the rest until xanax not have you got to have an internee and you’ve got to have liability, insurance or west of somebody wants to get ahold of you to lie schedule a free consultation. What’s the contact information, how they get in touch with you over there winners nk, they can call us at 918-494-6868 with 918-494-6868 or online www.. Winters king.Com doesn’t get ahold of you. What numbers do they call that number doesn’t reach you? That’s it