The Sunshine State provides lots of opportunities for small business owners. Many companies new to the area are flourishing in what has become a robust economy. Now that people are spending more, anyone who provides good products can enjoy the value of having satisfied customers. The key is to provide both good services and have a staff that is friendly, caring and engaging.
Still, there are the usual concerns about product safety, and other areas where things can go wrong. This is why it’s fundamentally sound to have Florida general liability insurance since it takes just one unsatisfied customer to bring a claim against your company, which can cause you damage, either financially or to your reputation.
General liability (GL) insurance should top your list
Whether you operate a small business or one that employs hundreds of workers, you will need to have GL coverage. This is the one policy that covers common risks related to operations of most business models. You even have the option to combine this coverage with business property insurance in a business owners policy (BOP), which is a great way to protect your property, and any liability concerns, all under one plan.
You’re going to want to make informed choices regarding the different types of insurance coverages that you’re going to carry that go beyond a GL policy. Depending on the size of your organization. For example, Employment practices liability insurance (EPLI) will protect you against employment-related claims such as harassment or discrimination.
Errors and omissions insurance (commonly referred to as E&O), will protect licensed or certified professionals working under you in the event that they (or you, for that matter) make a mistake causing damage to a client or third party. Directors and officers insurance (D&O) has added value as it protects the board, officers, as well as others in governing or executive positions at your company in the event of negligent acts, misleading statements, omissions or unethical actions.
Your business means the world to you. Speak to an agent about a Florida general liability policy and other insurance products for your business today.