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The owner of a small business in Florida may choose to purchase a minimum of business insurance coverage in an effort to reduce costs. However, don’t be tempted to skimp on Florida general liability insurance; it’s important for a business of any size to have protection from the cost of lawsuits.

Although you may feel that you manage your business well and are unlikely to be sued because your business has caused harm to a customer or client, it’s important to remember that in our increasingly litigious culture, no business is immune from the threat of lawsuits.

A mistake, accident or mishap – or even a simple misunderstanding on the part of a client – that leads to a lawsuit, is likely to be expensive to defend in court and there is a risk of a heavy damages award. At best these legal costs erode business capital and affect cash flow and growth; at worst they could force the business to close.

It’s a good idea to check out how your business may be exposed to losses arising from lawsuits. Spend some time researching liability cases that have been filed against businesses in your industry, and note the amounts of damages that have been awarded by courts and the legal costs incurred by defendants in these cases.

Having done some research into recent liability cases you should be better able to estimate the level of Florida general liability insurance coverage you need. Our agents understand the needs of Florida businesses and can help you find general liability coverage (or other liability coverage that may be appropriate to your business type) to help protect your business investment from the threat of legal costs.

Disclaimer: The above description provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control.