Managing a business is no easy task, which makes being profitable all the more difficult. You have to contend with unforeseen expenses and occasional setbacks due to any number of concerns. Fortunately, Florida general liability insurance helps you minimize some of the financial impacts related to common exposures you may face. Without this policy, the fallout from one major loss could put you out of business.
Typically, a general liability insurance plan is purchased as a means of protecting your business from claims brought against it by a third party. A third party may be anyone who is not an employee or contractor working for your business. This could include your customers or clients, anyone making use of your products, or someone who comes into contact with you (or your employees) during the course of doing business.
Essential coverage for many small businesses
General liability insurance coverage not only protects your business from property damage claims and bodily injury claims but also personal and advertising injury claims that could put your business’s assets at serious risk. For example, Florida general liability insurance helps protect you and your business in the event of the following:
- Bodily injury or claims of property damage – Protects against certain claims alleging financial loss due to property damage or bodily injury arising out of your business operations or products manufactured or sold
- Reputational damage – Helps protect your business against claims of malicious prosecution, libel, slander, wrongful eviction, violation of the right of privacy and other related claims
- Advertising errors – Protects your business against certain claims if others allege you infringed on their copyrights when advertising goods, products, or services in your advertisement
- Medical payments – Helps protect against certain claims for medical costs if someone is injured on the business premises and needs medical treatment
- Damage to premises rented to you – Protects your business against claims for damage to premises you rented in case of fire, lightning, explosion, or other forms of damage like flooding
Your Florida general liability insurance also pays for your defense and any resulting damages if your products or services cause damage or harm resulting in litigation. Speak to an agent about any questions you may have pertaining to this vital coverage.