If I own a business that was burglarized and 2 items of high value belonging to customers were stolen but not found, what is my responsibility since I’m not insured?

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If I own a business that was burglarized and 2 items of high value belonging to customers were stolen but not found, what is my responsibility since I’m not insured?

The 3 burglars were apprehended in the act and arrested.

Asked on October 1, 2014 under Business Law, California

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

You could be sued for negligence by the customers for the loss of their property.  The damages (monetary compensation the customers are seeking in their lawsuit) would be the value of their property that was stolen.

If the customers obtain a court judgment against you in an amount that you can't afford to pay, you might want to consider filing bankruptcy.

You could sue the burglars for the amount of the judgment the customers obtain against you, but most likely they don't have any money and you won't recover anything.


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