In Florida, company owners purchase commercial policies to protect their investment and their business. The right combination of policies provides the right level of coverage to prevent financial losses. The policies protect against liabilities and legal claims. A local insurance carrier provides more information about Commercial Insurance in Sarasota FL.
Commercial Property Coverage
The commercial property coverage offers payments for structural damage. The insurance covers damage that happened due to specific events. Typically, the covered events are storms, tornadoes, hurricanes, and fires. If the property is a total loss, the policy provides either the true replacement or market value of the property.
Commercial Auto Insurance
Commercial auto insurance covers vehicles that are used to conduct business. It doesn’t cover the vehicle or accidents if the vehicle is used for personal reasons. All cargo delivered in the vehicles during business hours are covered and replaced if damaged. The coverage pays for liabilities, injuries, and property damage that resulted from an auto accident. If the owner wishes to use the vehicle for personal reasons, they need to purchase standard auto coverage, too.
Why is Liability Coverage Necessary?
Liability insurance is needed to protect the company against financial losses. At any time that a lawsuit is filed against the company, the policies assist the company by providing a monetary award. The policies help with settlements to lower the chances of the claim going to court. Common liabilities include personal injuries, a breach of contract, and identity theft.
Worker’s Compensation Insurance
Worker’s compensation insurance pays for medical treatment for injured workers. It also provides monetary benefits for workers who cannot return to work immediately. The workers receive up to eighty percent of their wages. Any additional treatments or therapies required are also covered by the policies.
In Florida, company owners purchase policies to protect their company and their investments. The policies cover the business location and automobiles used for the business. General and global liability coverage pay for liabilities including accidents and a breach of contract. Worker’s compensation coverage provides payments for medical treatment for injured workers. Company owners who need more info about Commercial Insurance in Sarasota FL contact a carrier for a free quote now.
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