Hilb Group of Florida

Three Key Insurance Coverages For Your Business

Business insurance can seem confusing to those who are new to the industry. The variety of coverage options combined with the unfamiliar terminology can make signing up for a new policy appear to be more difficult than it really is. To help simplify things for you, here are definitions of three key coverage options that you need to understand.

Liability Insurance

Liability insurance comes in many forms, all of which provide protection against lawsuits. The two most common forms are a general liability and professional liability. General liability protects you against lawsuits claiming injury or property damage. Professional liability covers you against lawsuits claiming losses due to an error on your part.

Commercial Property Insurance

Commercial property coverage ensures that your company’s finances aren’t destroyed in case of a disastrous event for your property. Whether it’s a fire, storm, theft or vandalism, your policy will pay for to repair or replace your items. According to the experts at Hilb Group of Florida, you can choose to cover your building, equipment or furniture under your policy.

Workers’ Compensation Insurance

Workers’ compensation is there to protect you in case one of your employees suffers an injury or illness because of job-related activities. Rather than coming of your own pocket, your policy would cover any medical expenses and lost wages while the employee is away from work.

Understanding these coverage types and including them in your policy will provide a solid foundation for your policy. Working with an experienced agent will make it easier for you to get the coverage you need.

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