General Liability Insurance Florida
If you have a small business in Florida, or are you carrying out professional activities in the sunshine state, then you already know that business enterprises can once in a while be the target of legal actions. The very best way to ensure that you are protected against such possibly damaging litigations is to consider a Business General Liability Insurance in Florida.
Listed below is what you must know:
Workers’s Compensation Insurance protection
In Florida, businesses and commercial companies are not obligated by statute to have insurance coverage policies. However, there are some kinds of insurance coverage plans that are required. A simple example of one such case applies to any company with a employed pool of over 4 people where workers compensation policy coverage would definitely be a requirement. If your company is involved in building and construction, the starting point as far as the number of employees is even less than that, as even one employee would be sufficient to mandate workers compensation insurance.
Commercial Automobile Insurance
Does your company use cars and trucks for business? Are motor vehicles utilized for commercial purposes? Then you would definitely need to have a Florida Commercial Automobile Insurance.
What does Florida Commercial General Liability Insurance Cover?
Liability insurance, also known as Commercial General Liability (CGL), deals with four types of circumstances for which you may be held responsible:
- bodily injury
- damage to others’ property
- personal injury, including slander and libel; and false or misleading advertising.
CGL coverage pays for the injured party’s health-related expenses. However, it omits your workers, who would be protected by workers’ comp.
There are three kinds of legal damages people may well prosecute you for that are generally covered by a CGL policy:
- Compensatory damages resulting from an injury they claim in the court action.
- Non-monetary losses experienced by the victim, just like affliction and suffering or psychological distress.
- Retaliatory compensations| added fees and charges your company will be required to pay for.
What is not included Florida Commercial General Liability Insurance?
- failing to hire or promote
- Claims related to running an automobile or pickup
- Malpractice insurance