General Liability Insurance Florida
GL, (General Liability Insurance), is a customized insurance policy that business organizations want in order to defend themselves against a range of lawsuits like:
- Physical injury and property damage liability
- Personal and advertising injury
- Commercial property damage
- Health-related settlements
- Damage to facilities leased to you
It is a business liability insurance which typically go hand in hand with a Business Owners Policy (BOP).
Although employers in the state of Florida are not expected to carry insurance for every aspects of their day to day operation, some types of insurance protection are in fact required. These responsibilities depend on the number of employees a company works with, whether motor vehicles are used for business.
Companies can be targetted by a number of legal threats and a business liability insurance is used by contractors as protection.
General Liability Insurance for Contractors
Also known as Contractors Liability Insurance, this insurance plan serves as the first line of defense for you and your workers. It allows protection to your contracting business and shields your source of income from unpredictable financial losses.
The building and construction market and all associated contracting support services are at risk. Regardless of whether your small business has a store which customers can go to (and potentially get injured while on your premises, or regardless if you work in people’s houses by providing your painting, drywall, cabinet making and all manner of contracting services, you may well be held accountable for products or services that might result in personal injury to the house owner and his or her family members.
Because of that, it is important that you think about purchasing a General Liability Insurance.
Cheapest General Liability Insurance Local Business
Lots of people seek out ways to make savings on the goods and professional services they buy, either for their own private benefit or for their business. It is the same for businesses who need liability insurance. The best strategy to find cheap small business insurance is as follows:
- Review price quotes
- Bundle insurance coverages
- Estimate your liabilities
As an established insurance agency in Florida, we often hear from our clients that a business insurance may be an investment they don’t really have to have. Here is why their thought could lead to some serious problems:
- More than 30 percent of small companies have to face legal challenges at one point or another.
- Just under 70 percent of them claimed that their companies was affected significantly from the costs connected with having to defend against these lawsuits
If you think that litigations only happen to big companies, reconsider: Local businesses are frequently the recipient of such lawsuits and have to spend thousands of dollars in expenditure against a variety lawsuits, including the frivolous ones that can put them out of pocket for anything between $2000 and $20000.
Commercial General Liability Insurance
CGL (Commercial General Liability Insurance) was introduced in 1986 as a replacement for the “comprehensive” general liability policy. It is a customized insurance protection issued to businesses in order to defend them against liability claims for property damage (PD), bodily injury (BI), completed operations, advertising and personal injury liability (PI).
Florida Business Insurance Requirements
In the state of Florida, businesses are mandated to offer workers’ compensation insurance for their employees. The particulars of these requirements are founded on the how many employees work for them, the marketplace and the entity organization.
For more details check https://www.myfloridacfo.com/division/wc/employer/coverage.htm