Florida General Liability Insurance
Florida general liability insurance is the best way to cover a business in case of damage or injury, resulting from an accident caused by the owner or an employee. This general coverage is extremely affordable especially when you consider the cost of covering the damages yourself. Whether you own a restaurant in Miami, FL, or a fishing charter in Tampa, FL, a general policy will cover you for almost any risk.
Basic Florida general liability insurance covers property damage, personal injury and litigation costs up to a specific limit. You have the option of increasing what is covered in the general policy by adding other clauses for specific risks associated with your business. If you feel the limits are not enough to pay for any potential costs, you may want to add an umbrella policy. This will pick up whatever is not covered by the commercial liability insurance. From small business owners to large corporations, any Florida business should consider covering their assets with Florida general liability insurance.
Types of Policies
There are many different policies available for Florida general liability insurance. One of the more popular ones in Florida is the protection and indemnity clause for watercraft. This type is perfect for anyone who owns or leases a boat and uses it for business purposes. Marine and diving contractors, tug boats, yachts, or charter boats may use this insurance to cover them for damages or injury that occurs while operating the vessel.
Watercraft liability insurance covers anything from damage to piers or docks, to wreck removal. This may include cargo damage, injury to crew or passengers, and collisions with other boats. The cost of this coverage depends on several items, the condition, age, and size of the boat, business operation, number of crew and passengers, navigation limits, and claims history. If you have ever been in a boating accident, you know how costly the damages can be. By purchasing a Florida general liability insurance policy that specifically covers the watercraft industry, you can rest assured your company is safe in case of damage or injury.
Florida also has many riding stables and equine industries, especially up in the panhandle. These companies can benefit from an equine liability clause. This is ideal for anyone who owns a horse related business such as arenas and stadiums, boarding or breeding, training, carriage and wagon rides or riding instruction. The coverage includes property damage or injury occurring on the owner's property or at another location caused during the course of business. Equine policies such as this do not cover a boarder's horse or any tack that is left in your care. Read your policy carefully to understand the limits.
One of Florida's main industries is tourism. If you own a Florida hotel, restaurant, or club that serves alcohol, you may want to consider adding a liquor liability clause. These policies are designed to protect businesses who sell alcoholic beverages. You can add this to any Florida general liability insurance to increase the coverage in case of an alcohol related accident. You may also want to add an event policy for special events such as street fairs or concerts. These policies cover the event only and are very affordable.
Liability Insurance Costs
Florida general liability insurance is extremely affordable. The cost of coverage depends on several factors. What type of company you own, how many employees you have, claim history and potential risks. General coverage costs vary greatly based on what type of business is being covered. If you are a charter service for instance, your quote will be significantly higher than a store that sells bathing suits because of the increased risk to the customers.
You always want to be very sure the insurance provider is aware of any potential risks. Read your policy carefully. There are usually exclusions in a Florida general liability policy that are specific to what is not covered. If there is an exclusion for something that you feel needs to be included, you will want to add additional plans to cover that particular risk. For instance, if you are a general contractor and you did not purchase the insurance to cover roofing services, you will not be covered if something happens while providing that type of service.
No matter what type of coverage you require, you can design Florida general liability insurance to cover you for any occurrence. From tugboat operators to club owners, there is a policy to fit your needs. You can save money by shopping online and comparing rates. Be sure to read the quote carefully and ensure you have coverage for everything you need. Purchasing Florida general liability insurance can be one of the best investments you ever make for your Florida company.