Business insurance is often a point of confusion for new business owners. There are many options on the market that seem to cover the same things. General and professional liability coverages are examples of that. On the surface, it’s not clear if both are necessary as they seem to cover the same things. As you perform your search for Orlando Florida business insurance, be sure to work with a company who understands the differences and how they satisfy your business’ needs.
While no one can predict all the ways you can be sued, general liability does a good job of covering most of the possibilities. It covers lawsuits where your business services or product have caused injury to a third party or damage their property. This can range from a client slipping in your office to your cleaning solution ruining a customer’s carpet.
Also known as errors and omissions insurance, it is more specific to instances where a third party claims your negligence is what caused them harm. For example, the client of an IT security firm claims a gap in security caused their data to be stolen, or a customer claims a financial advisor missed a key market indicator that ruined their retirement savings.
Purchasing Orlando Florida business insurance doesn’t have to be difficult. Find a provider who’s willing to explain the details of your policy and customize the coverage to fit your needs.