As a business owner, having liability coverage is not a requirement, but it does come highly recommended. When selecting general liability and professional liability for commercial insurance, it is important to know the difference between the two and if it is right for your Florida business.
General Liability
Outlined to cover the majority of your liability cases, your general liability is directed at protecting when you are sued by a third party such as customers, public patrons, or former employees. There is coverage available for bodily injury, medical expenses, and property damage that may have been caused by your business to their personal property. In essence, general liability focuses on direct physical damage either to the body or property that is owned by someone other than the business.
Professional Liability
There are some areas that general liability does not cover, and that is damages caused by professional services. Also known as errors and omissions, professional liability is meant to provide protection if you are sued for a different type of damage. Businesses that offer consulting services and accounting fees can be sued if the service provided had errors when they were provided to the client. If that client suffered a financial loss as a result of these errors, and it can be proven, you could be found liable to repay the loss. These errors could be promises that were not fulfilled by your employee, negligence, or other documented errors that had an adverse effect.
Contact An Agent For The Right Policy
If you are not sure which type of liability insurance your business needs, our agents at Hall Insurance is happy to assist our Panama City Beach, FL business owners. Contact us today to see which policy you qualify for and to get your personalized quote.
