Having Florida business insurance for the New Year may be the last thing on your mind, but why not find out all the facts and get covered in the best way! There are many types of business insurance for small, medium, and large sized companies. All of which, are focused on giving that sized company the best and most inclusive coverage.
Business Owner’s Policy (BOP):
1. Property Insurance- This in its simplicity covers the property and contents owned by the business
2. Liability Insurance- This covers any cost that your business is legally obligated to pay. This includes injury, property damage, and personal/advertising injury (slander).
The BOP is a full coverage basic policy that covers the owner from damage done to their property and content. It also includes any damage, injury, and advertising damage. This is huge in the business world. Feeling like you can go about your day without the stress of something going wrong will improve your business culture right away. Along with BOP you can add on many types of business insurance including, employment practices liability, workers compensation insurance, and business interruption insurance.
Employment Practices Liability Insurance Information (EPLI):
• Many businesses add this to their BOP plan
• Includes coverage for claims by workers that their legal rights of the company has been violated
• No company is immune to this problem so having coverage calms business owners knowing they are covered.
Going into the New Year, take a look at your Florida Business Insurance policy and make sure you are getting the best coverage for your company. This may include just the BOP, EPLI or more than those. Staying informed is the only way to know you are getting what you need to insure a safe and covered work environment.