For both small and large business owners, Florida general liability insurance will protect you in the case of claims regarding damages or injuries caused during the course of doing daily business. Its important for those who operate companies in the Sunshine State to determine the amount of coverage they may need. It’s also wise to consider the amount of protection suitable to your business in order to refrain from having to use company funds to pay for any impending lawsuits and reduce your own exposure.
This type of insurance is commonly bundled with other primary insurance policies. This ensures that you’ll be covered in a variety of areas and may also reduce overall premium costs. Coverage commences whenever a claim is filed. Its then up to your insurance company to ensure that your business will continue to function throughout the claims process keeping you in a position to remain profitable.
Areas that a general liability policy will cover
Basic general liability insurance covers property damage, personal injury and litigation costs up to a specified limit. Since every business has a different set of needs, you’ll have the option of increasing what is covered in the general policy by adding other clauses for specific risks associated with your particular type of business.
For example, if you feel the limits are not enough to pay for any potential costs you may incur you may find it necessary to add an umbrella policy. This will provide you with the added coverage needed in order to pick up whatever isn’t covered by your commercial liability policy.
Naturally, there’s no way to predict whether your business will ever need to use the coverage on a general liability insurance policy, however the coverage will be extremely valuable in the event of a claim. Since the policy covers not only any damages that are the result of normal business operations, but it also covers claims involving products manufactured by the company as well, so its critical to properly insure the business in order to protect it against certain perils and risks.
Should your business become involved in a liability claim without this coverage in place, the financial costs could be devastating. Purchasing a Florida general liability insurance policy will provide valuable protection for your business and its a critical component in any insurance package as well.