Three Basic Business Coverages Explained

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Are you searching through Orlando insurance agencies to find coverage for your new business? While you research the available options, it’s good to understand at least the basics of business insurance to make the process as efficient as possible. Below are three examples of coverages that you should know and be prepared to ask about.

General Liability Insurance

General liability is coverage for your everyday activities. It protects you in case a third party claims that your business caused them to suffer an injury or property damage. This can range from a visitor getting hurt on your property to a customer’s home catching on fire because of a gadget you created.

Professional Liability Insurance

Professional liability provides coverage for situations where a third party claims that your business caused them to experience a loss. An example of this is a client filing a lawsuit against his or her advisor after experiencing major financial losses.

Property Insurance

Property insurance covers your business property in case they become damaged or lost. Your policy can cover your building, landscaping, equipment and furniture and it will pay to restore them in case of a fire, storm, vandalism or theft.

The coverages you’ll need to include in your policy will depend on your industry. Making the right choice among the Orlando insurance agencies will ensure that you get the appropriate package for your needs.