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Important Elements of Business Insurance Coverage

Your business insurance coverage in Orlando has to be made up of the right elements to ensure your company has the best protection available. Consider the unique needs of your business to determine whether these common elements are vital for your insurance plan.

General Liability

This basic coverage protects corporations from liability for bodily injury, personal injury or property damage claims. A commercial policy could apply to a service for a company that mops floors or a product for a business that sells clothing. If your business insurance coverage in Orlando does not include general liability, you may be at risk for financial loss after a slip and fall accident.

Workers’ Compensation

Workers’ compensation reduces your company’s liability for workplace accidents. In other words, if an employee breaks his or her leg while working, this coverage would help pay for medical bills and time missed from work. Without this policy, you may be financially responsible for the injury.

Cyber Liability

If your company deals with private customer information, you need to do your best to protect this data. A cyber liability plan helps cover the financial aspects of a breach. For example, if a hacker steals your client’s banking information, this coverage may help you pay to inform your customers, investigate the leak and return stolen funds.