Every business runs the risk of expensive lawsuits. Lawsuits can happen when someone believes incompetent work was performed. They can happen when an injury occurs at the business location. Copyright infringement, discrimination, and property damage are other reasons lawsuits are filed. With a seemingly unending list of potential attacks, it is imperative to have commercial property liability insurance in Orlando.
What Can Liability Insurance Do For You?
When a case goes to court, a business incurs many fees which may be crippling. This is before any fines or judgments are even awarded. Liability insurance can provide the following benefits to your business:
- Payment of the damages awarded by the judge to the plaintiff
- Payment of any settlements reached out of court
- Payment of lawyer fees
- Payment of any additional court costs or fees associated with the lawsuit
What Kinds of Liability Insurance Do You Need?
Every business has special needs that should be discussed as part of a comprehensive Business Owner’s Policy, or BOP. Some common types of coverage to consider are; General Liability Insurance, Employment Practices Liability Insurance, and Errors and Omissions Insurance. These three policies provide most businesses with a well-rounded foundation upon which to build a solid portfolio of commercial property-liability insurance in Orlando.