Commercial General Liability
It is law in Florida that companies conducting business in the state must purchase a general liability policy from insurance companies who are authorized to trade in the state of Florida. Even Contractors doing business in Florida must also have a general liability policy with an amount of cover specified by the city in which they are doing business. Commercial General Liability Insurance is the most important asset your business can have and should be the best you can afford. Today’s society is very litigious, and even small mishaps can result in big lawsuits and monetary compensation.
The Commercial General Liability Insurance, is the most critical type of business insurance. This vital protection ensures your business can continue to trade if a case is brought against you instead of being wiped out by compensation payments. It is the security and assurance that you and your staff need, secure in the knowledge there are safeguards in place for the business to keep running smoothly. The Commercial General Liability Insurance is your first line of defense whenever there are any liability judgements against your business
A Commercial General Liability policy has four main types of cover. Included are Bodily Injury and Personal Injury liability, and Property Damage and Advertising Liability
This valuable insurance cover will help pay for any judgments against your company under the following cover: Property Damage. This liability relates to any damaged possession or property belonging to a client, visitor, or other business caused by the business owner, staff, product, or service. If the claim is upheld, damages will be paid. Bodily Injury. If the business causes harm to another person accidentally or through sickness, disease, injury or death, the bodily injury liability of a Commercial General Liability Insurance will cover most of the finances amassed from compensation and other payments granted by the law. Business premises or products can be held liable.
Personal Injury Liability.
Personal injury liability protects the business against non-physical damage. This covers any damages of the character, reputation, or industry or commercial standing of an individual. Libel and slander claims are protected under this cover. Advertising Liability This feature will defend you and your business against any unintentional or intentional advertising or promotional damage inflicted on another person or business. Usual disputes center on trademark issues and copyright issues. False statements and defamation about competitors or other business entities are also covered.
To mitigate risks and keep insurance premiums down, business owners should ensure they pay attention to staff education, health and safety procedures, accident prevention, and product safety.
Train staff in health and safety procedures High standard of product quality control Maintain company records properly Ask your insurance company for advice Adhere to best practice in employment regulations
As highly experienced insurance brokers, we pride ourselves on providing the right solution for your business to bring you the best Commercial General Liability Insurance policy at an affordable price. We can help whatever the business type and can tailor a policy just for you. Talk to us today for a free no obligation quotation.