Florida Liability Insurance and Related Exposures

Running a business on a daily basis can be hard work. Consider, for example, the fact that your company must interact with employees, contractors, clients, vendors, and others throughout the course of a single day. Now consider the fact that any one of them could claim that your business caused them an injury or loss and that they may even take legal action against you.

This is why you need to purchase a commercial general liability (CGL) insurance policy, because it protects small-business owners from claims of injury, property damage, or any form of negligence related to their business activities. The indemnity provided by a Florida liability insurance policy will help you, as a business owner, cover the costs associated with having to mount a legal defense.

CGL provides protection from a number of claims

You could one day find that you need to defend yourself against a claim of property damage, or bodily injury, or accusations of libel, slander, or some related offense, and your Florida liability insurance policy would cover all of these acts. No matter how careful you and your employees are, a situation may arise, whether purely unintentionally, or out of malice, and you’ll need the financial resources of this coverage to remain operational.

A general liability insurance policy provides financial protection from risks that any business owner might incur. A typical policy covers the costs of defending or investigating a suit or claim against you, including court costs, witness fees, attorney’s fees, and police report costs. It also helps to pay any reasonable expenses incurred when the insurance company asks you to assist in your defense (for instance, income lost while spending a day in court).

This coverage also pays judgments or settlements resulting from covered suits, including interest required on the judgment and the injured party’s medical expenses, in the event that your defense is unsuccessful.

Your Florida liability insurance will be vital to have if you have a joint venture or partnership, since all of your partners, members, and their spouses are protected if they are sued for something they do in an official capacity related to your business. In addition, people legally associated with your business, including volunteers working under your direction, are covered for any liabilities that may result from any work they do for you.

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