Small businesses and their owners are at more risk for lawsuits than others in the community. Because they have both business and personal assets, small business owners also might have more to lose than others. If you own a business in the Sunshine State, you need to be sure you have great business insurance in Florida. Here are two types of insurance every business needs.
There is no question that lawsuits are on the rise. Damages from a finding a negligence can be extraordinarily high, ruining a small business. Even if a judge or jury ultimately finds that your company was not at fault, the expense and inconvenience of defending a negligence suit can bring any company to a standstill. For this reason, smart business owners purchase liability coverage. Depending on the nature of your company, you might want to purchase a business liability, products liability, or professional liability plan. In some cases, you might need all three.
Protecting your business’s physical assets is probably a priority. When buying a policy, make sure you get coverage for any buildings, inventory, equipment, furniture, and other physical assets you use to make your business a success.
While there are many types of business insurance in Florida, smart business owners have at least these two types of coverage.