Finding the right insurance policy is an essential part of running a profitable business. No matter what industry your company represents, you need to make sure you are covered in the event of bodily or property damage to a third party or client. There are several types of Florida liability insurance, but most professionals find a commercial general liability (CGL) policy provides the right type of coverage. Here is an overview of liability insurance coverage.
1. Bodily Injury and Property Damage
This element provides protection in the event your goods or services create injury or property damage to a third party (not including company employees).
2. Personal and Advertising Injury
If your company is sued for slander or libel, this type of coverage provides protection.
3. Liquor Liability
Your company is covered for liability related to company events at which your employees consumed alcohol.
4. Contractual Liability
This aspect of Florida liability insurance protects your company for liability assumed in a lease or other legal contract.
5. Complete Products
If your products end up causing harm or damage to customers or third parties, your company is covered by this section of the CGL policy.
Commercial general liability insurance can help your company remain productive and financially solvent even during difficult circumstances. An expert broker can create a policy that includes the standard CGL coverages along with any specific protection necessary for your particular industry.