Owning your own business can be rewarding. You can make your own rules and execute your own ideas to grow your business. That's one of the reasons you should do everything in your power to protect what you've built. Commercial liability insurance isn't legally required for businesses in Florida. There's a push for tort reform but the state is known for being litigious — large judgments for plaintiffs are common. That's why it's so important to insure against anything you wouldn't be able to pay for.
Speak to your Old Town Insurance LLC agent to learn more about the commercial insurance options that would work best for your business. In the meantime, here are the main coverage types for your review.
The main type of commercial insurance is general liability insurance, which is something every business should consider. It protects you from losses related to property damage, bodily injury, libel, slander, medical expenses, defending lawsuits and settlements or judgments.
Product liability insurance works for businesses that distribute, wholesale, manufacture or sell products. This protects your business from financial risk due to defective products that cause injury.
Professional liability insurance is for customer service businesses that can be sued for errors, negligence and malpractice.
Commercial property insurance is a good idea if your business deals in property and physical assets. This covers your company for property loss and damage due to smoke, fire, wind, hail, civil disobedience or vandalism.
Home-based business insurance is for owners who work out of their home. It's most beneficial to those who see clients in their home and need protection for business equipment and liability coverage for injuries. This may be written as a rider to your homeowner's insurance.
Business owner’s policies are sometimes purchased by small business owners with home-based business owners. It's a package that bundles various policies into one.
Ask the agents at Old Town Insurance Agency LLC about the commercial insurance policies that might fit your needs. Make an appointment to get a quote or to set up your policy today.