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.

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Florida General Liability Insurance for Small Businesses

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.

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