Why You Need Florida General Liability Insurance Protection

Perhaps the most important reason that your Florida general liability insurance (GL) policy is important for you to have is that it gives your clients some ease of mind as well as financial recourse in the event that a problem arises. While we all know that safety is a basic concern for all businesses, an accident or mistake is likely to occur at some point in time. Your clients will appreciate the fact that, because you are insured, if anything were to happen, you are in a position to make things right.

Clients and customers appreciate working with companies that they feel they can trust. By having GL insurance on hand, you’re letting them know that they aren’t being taken for granted, nor are they taking a risk by utilizing your company because you have the financial means to make restitutions for any accidents that you’re deemed responsible for, such as cases where there is property damage or bodily injuries to third parties.

Common risks every small business owner needs to address

A lot of things can go wrong on an average day. Let’s say, for example, that a customer visiting your place of business slips on a coffee spill and experiences a serious injury requiring medical treatment. The client decides to sue for medical costs and loss of income. They’ll be satisfied that your insurance is there to cover the cost of the settlement and pay the medical expenses, and you won’t suffer any costly out-of-pocket expenses. Bodily injury is a covered claim under your GL policy.

Property damage is also covered, so if your landscaping company was hired to remove a tree from a client’s property, and it results in the tree falling and hitting the car of your client (or a neighbor’s car), leaving it significantly damaged, your insurance will pay for the car’s repair or replacement.

Then there is completed products coverage, which is useful in instances where a product developed by your company causes an injury to someone who bought your item at a local retail store. Fortunately for you, your policy’s product liability coverage will address this claim as well.

Having a Florida general liability commercial insurance package to cover your company in the event you end up in litigation will not only save your business from ruin, but it provides the necessary restitution to persons affected by your business or its products, and this coverage can only save you money in the long run.

Crime Coverage and Yacht Builders Insurance Wholesalers

Insurance brokers understand that economic pressures can affect many different industries, and among them are their clients in the boat and yacht building industries. Trusted employees having a difficult time keeping up with bills and other personal expenses may become prone to committing dishonest acts including stealing from their employers. Employees caught in the act will often explain away their actions for what they feel are many sufficient reasons, including not having the resources or income to support their lifestyles.

Crime coverage, available through yacht builders insurance wholesalers, can often cost as little as $300 for up to $100,000 in coverage, this of course depending on the size and type of business activity, along with other underwriting considerations. While employee theft often involves having access to cash, they may also resort to stealing various items they have access to.

In the yachting industry there are many other items of value that may be stolen, including office machines, vault securities, warehouse merchandise, tools and other items in the inventory of the business they work for. Losses involving equipment, supplies, or merchandise can add up to thousands of dollars or more. Most businesses would have a difficult time dealing with such losses over time.

Desperate times, desperate measures

To an employee experiencing heavy financial burdens and responsibilities any product can seem valuable enough to steal, especially when a sufficient quantity can be taken over an extended period and often going unnoticed for months at a time. Surprisingly, an ongoing theft could span three years or more without being detected by owners or supervisors.

Crime coverage can help your client to better secure their business by providing protection for and against:

  • Employee Theft
  • Depositors forgery or altercation
  • Theft of securities and other property
  • Computer fraud
  • Funds transfer fraud
  • Money orders
  • Counterfeit currency
  • ERISA plans
  • Credit, debit, or charge card forgery, and
  • Robbery and safe burglary coverage

Don’t allow your clients to leave themselves open to losses of this kind that could seriously reduce their profit potential. Having crime coverage through yacht builders insurance wholesalers is worth the cost of the policy when you consider all that is at stake.

Protecting Your Assets with Fine Dining Insurance

There are several common types of business or commercial insurance that every restaurant and fine dining venue owner may need to consider before officially opening for business. The types of coverage’s often depend on the nature of your establishment. For example, you’re going to have to buy property insurance to protect your building and equipment assets in the event of a fire or other incidents that cause severe damage.

General liability insurance protects restaurants in the event that a patron or employee gets hurt on the premises. This kind of coverage is particularly important in establishments that serve alcohol. The potential liabilities are numerous, and there is significant potential for property damage to be costly.

Liquor law liability covers proprietors from being sued when an intoxicated patron hurts him or herself, or others. The percentage of your overall sales that are liquor, as well as the number of patrons you typically serve, will likely affect the cost of your policy. You may also want purchase Fine Dining Insurance for theft or crime coverage to protect you from criminal acts by patrons or employees.

Workers Comp (WC) and other important coverage’s to consider 

WC safeguards proprietors in the event that an employee is injured on the job. State laws vary greatly, so your local Fine Dining Insurance representative is best equipped to help ensure that you have the appropriate coverage in place.

Employment practices liability insurance (EPLI) is another policy that most businesses should consider as a priority. Issues of this nature have become increasingly common and the policy protects business owners against many employee claims, such as sexual harassment, discrimination, and wrongful termination. This type of insurance is recommended for businesses where employees have access to alcohol.

Auto liability insures any business vehicles used by the establishment. This insurance is required if your company owns and uses vehicles during the course of daily activities associated with the job. You may also need umbrella insurance if your potential losses are far and above what your initial policy will cover.

Contact a local agent so you can rest assured that you’re properly protecting your business with all of the necessary Fine Dining Insurance related to your operations. With all of the factors affecting your policies, you’d be wise to engage an expert to help you determine what types and amounts of coverage are right for your business.

How General Liability Goes Up in Smoke

Databases containing billions of detailed files on insurance and risk management is part of the complex web of information that companies such as the Insurance Services Office (ISO) draw upon to create a broad platform on which its information services, including general liability rating, is based. A growing and controversial trend and recent stories in the news about its associated problems will no doubt add to the collection of data that informs decisions on risks and how much to charge customers who take those risks.

The rise of the e-cigarette

Electronic, or e-cigarettes, are battery-operated tubular-shaped devices with a bright blue or red light shining at the tip, through which users inhale a vaporized nicotine substance (sometimes referred to as “juice”). A sensor inside the e-cigarette activates when the user inhales, sending a message to a tiny microprocessor in the device that heats and vaporizes the juice (which can be purchased in various “flavors” with some containing nicotine and others not), enabling the smoker to breathe in the vapor. The vapor (rather than smoke in a traditional cigarette) is then exhaled. The action of inhaling and exhaling provides the smoker with the feeling and taste of traditional smoking.

These devices are relatively new on the scene, so their true ability to cause damage and liability is not yet entirely realized. However, serious concerns abound about these devices and the advisability of their use, including:

  • It is unknown whether e-cigarettes provide greater fire safety than traditional ones–and considering that tossed, unattended, or forgotten cigarettes are one of the biggest causes of forest fires and more than 1,000 deaths in the home due to fire each year, a new device on the market that mimics cigarettes simply adds to the problem.
  • E-cigarettes have been known to have their own particular problems. They are powered by batteries and can break, overheat, or even explode.
  • The nicotine juice in these devices is concentrated so if ingested can cause children to become extremely ill and can even result in pet fatalities. In fact, the number of animal fatalities due to nicotine overdose has increased dramatically as use of the devices, also called vaping, has grown.
  • Anti-smoking and children’s protection groups are up in arms about the devices, contending that they and the associated juice are being designed in colors and flavors attractive to children and teens.

Redefining general liability rating in a world that includes e-cigarettes will no doubt be a process that is ongoing and reflective of the additional risks that will make themselves known as the popularity of these devices continues to increase.