If you have a business, you probably should have liability insurance in Florida. Liability insurance protects you if your negligence leads to someone getting hurt or property damage. A lawsuit can severely cripple your business, so you must do everything you can to protect it. Liability insurance can offer you that peace of mind.
How It Works
Liability insurance is like any other insurance you carry. You buy a maximum amount of coverage or protection. You will pay a premium for this coverage. If you make a claim, you will have a deductible that you must pay before the insurance company will pay. After paying that, the insurance will pay up to your maximum amount. If the total amount you must pay is more than your maximum coverage limit, you will pay any overage.
Why It Is Needed
Lawsuits are incredibly expensive. Not only are you going to have to pay for any damages awarded but you also will have your own legal costs and perhaps the legal costs of the person suing you. These expenses can add up quickly. Your insurance will cover them all. Even if expenses go over your maximum coverage, you are still going to be relieved of a huge burden due to what the insurance will cover.
When considering your options in liability insurance in Florida, you have to keep in mind what could happen if you were found negligent in an accident. If you cannot confidently cover any expenses that could result, then you need to have insurance.