Are you a new business owner looking for business insurance in Orlando FL but struggling to figure out which coverages you actually need? While there’s a long list of possible coverages available, there are a few that you need to understand as they will serve as the foundation for your entire policy.
General Liability Insurance
General liability is coverage for claims against your company resulting from everyday business activities. If a 3rd party sustains an injury or property damage because of your business and files a lawsuit, your policy will be available to cover any legal fees and payments that you’re required to make.
You want to protect the things that help your business run. With property insurance, you won’t have to worry about coming out of pocket to repair or replace your business property if a disaster were to strike. You can choose to cover items such as your building, furniture, equipment, and electronic data.
Workers’ Compensation Insurance
Per Hilb Group, your state’s laws determine the requirements here. If you have four or more employees, then by Florida law you must carry workers’ compensation. This protects you as well as your employees in case of any on-the-job injuries.
With these three coverages, you’ll have a solid foundation in place to cover your business activities, property, and people. Be sure to find an agent who’s experienced with your industry to help craft a policy that meets your exact needs.