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It is important to know what types of business insurance are available when setting up a business in Florida. Business insurance quotes for general, errors & omissions, malpractice, product liability and EPLI are all readily available online, but it is essential that you are aware of what type you may need and what you need to be covered for.
General business insurance is carried by nearly all insurers, and is typically offered under a package specifically weighted toward your industry. General business insurance protects businesses primarily from property damage, false advertisement and bodily injury, and most industries carry general business liability at a requirement of the state of Florida. Business insurance quotes for general business insurance are often sold as “Business Solutions Insurance,†or a similarly recognized, marketable name.
Malpractice and Errors and Omissions are insurance products for architects, engineers, lawyers, doctors, real estate businesses and other professional occupations that require protection from potential errors that might be made from their firm or practice.
Product Liability is held by manufacturers to protect themselves from lawsuits resulting from product malfunction. Depending on the product, your insurer will offer you a package specifically weighted toward your industry. With some very benign exceptions, all manufacturers are required to have some type of product liability insurance in the state of Florida.
Business insurance quotes are also available for Employment Practices Liability Insurance (EPLI) EPLI is a relatively new kind of insurance that protects businesses against wrongful employee conduct, such as discrimination, wrongful termination and sexual harassment.
If you have multiple forms of business insurance and want to save money, you can see if your employer offers umbrella insurance. Umbrella insurance policies bundle multiple insurance packages under one quote, which helps you save money on the overall policy. Check with your insurer if you have this option, or if you would like to also bundle your personal insurances as well.
