Miami Business Liability Insurance

Miami business liability insurance will protect you from most third-party claims related to property damage, personal injury and advertising injury. With the appropriate Miami business liability insurance, you won't be held personally liable for claims against your company. On the other hand, you need to be aware of situations in which you may be personally liable, such as when you sign a loan personally.

It's important to understand what your Miami business liability insurance covers, and what it doesn't. General liability, for example, won't cover you in the case of professional negligence or a malpractice lawsuit. Furthermore, it won't cover you if you are manufacturing or selling a product and you receive a claim related to the product.

Personal Liability Insurance

If you fail to treat your Miami company as a separate entity, you risk being held personally liable in certain situations. A good Miami business liability insurance agent can assist you in dealing with your company as a separate entity. Just because you've created an incorporated company or an LLC, doesn't mean you're completely exempt in all situations.

Obviously, your Miami business liability insurance doesn't cover you in personal situations. On a similar note, you're not going to be protected if you're lying, cheating or acting dishonestly. That's also the case if you intentionally violate someone's rights, or personally attack or hurt someone. You can't hide under the company coverage if you're personally misbehaving.

That being said, most of the time, you can expect your Florida commercial insurance to cover you in business related matters. Of course, that's not the case if you make a professional mistake, and you don't have malpractice coverage. Nor is it the case if your company cars and accident, we don't have commercial auto policy. It's important to know that while your general policy covers a lot of basic claims, it doesn't cover everything.

General Liability Insurance Exclusions

Miami business liability insurance only covers liability concerns. If a natural disaster occurs, and you lose your building and all your assets, your liability policy isn't going to help you at all. You also need property and casualty insurance, to cover you in the case of natural disaster. Almost all businesses need a property policy.

On the other hand, it may be possible to purchase a business owner's policy or BOP to protect a Miami company. If you have a small to medium-sized Florida company, you may be eligible for a BOP. A BOP is an inexpensive way to get both your Miami business liability insurance and your property and casualty policy in one package.

Another concern you may have with your basic commercial coverage is that it won't cover you or any of your employees in the case of professional error. If you're giving away advice or building houses, for example, you need malpractice or errors and omissions for your Miami company. Note that malpractice isn't just for attorneys and doctors; technology specialists, massage therapists, and many other professionals have this essential coverage.

First of all, everyone makes mistakes, so there the's the possibility of an error on your part. Furthermore, people sue for all kinds of reasons. If someone brings a meritless case against your Miami business, claiming that you made an error, you'd better have malpractice to cover you. Even if the claim is completely made up, the high legal fees and potential damages could put your Miami, Florida company under.

Here's another concern: your Miami business liability insurance won't cover any products you sell or manufacture. So, if someone brings a claim against your Miami, FL company regarding a product you manufacture, your basic insurance won't be sufficient. You may need what's called product liability insurance to cover anything you produce or sell.

Of course, if you're selling liquor, you need a special policy. Florida dram shop laws have historically been pretty lenient, but you may want to consider a policy that covers liquor. If you're operating a bar, for example, and someone gets very drunk, there's a chance that you may be held accountable for their behavior.

Your basic policy won't cover your commercial cars, either. If you or any of your employees drive for business related purposes, or if you have a company car, you may want to consider purchasing a commercial automobile policy. Note that if you're driving your car for business purposes, your personal auto policy may not be sufficient. In fact, you're auto insurer might not cover you.

As you've probably gathered, Miami business liability insurance has significant exclusions, and various details. Your best option is probably to find a good agent who can help you sort out the nuances of each policy and assess the risks of your business. Furthermore, a good FL agent can help you find the right insurer for your industry.

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