Orlando, Fla.—Yes, we finally concluded 2020. Some businesses have remained strong and resilient during this pandemic period of time, some other struggled and made every effort, and used all possible resource to stay open.

As we begin 2021, we all try to start on a fresh page— ready to write stories of success based on all lessons learned, and changes made.

Small businesses usually begin with basic coverage, such as commercial property and general liability policies. but as they grow, most will discover a need to look at  other types of insurance as well. 

Answering the right questions to your insurance agent such as an increase in property, change or adding locations, sales increase forecast, and any new travel involved, among other topics— will help you come with a comprehensive plan to properly cover your business financially.

Workers’ Compensation – Workers compensation provides payments to workers injured at the workplace, without regard to who was at fault in the accident, for lost of wages medical expenses, and rehabilitation services. It also provides death benefits to surviving spouses and dependents. This type of insurance will actually be required in most states, once your business reaches a certain number of employees.

Professional Liability – Professional liability insurance protects individuals and companies from assuming the full cost of defending a lawsuit that claims negligence of the individual or business.  Any professional who provides a service, expertise or advice to clients for a fee can benefit from coverage against liability lawsuits. Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Professional liability insurance will protect your business and its finances if such an event arises.

Commercial Auto – While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Whether you need to buy a business auto insurance policy will depend on the kind of driving you, and your employees do. A good Orlando business insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

Ask your Orlando business insurance agent to explain all the differences and options.

Directors and Officers Liability – Financial protection for Directors and officers should also be financially protected in the event they get sued for wrongful acts as the result of performing their duties.

Employee Benefits Liability – Is a coverage for liability issues from an omission or error in the administration of an employee’s benefits that results in the employee incurring a cost, like a terminated employee losing benefits after not being provided with COBRA information.

Excess Liability or Umbrella – Covers claims exceeding your standard policy’s limits.

At Garzor Insurance our experienced professionals are dedicated to providing commercial insurance coverage for businesses in Florida as well as Georgia, Texas, and now many other states across the U.S.A. If you have questions about business insurance, or any other commercial insurance aspects, please do not hesitate to visit us online at Garzor Insurance, or you may want to call us directly at (321) 206-8035. 

Mariana Zorrilla, CIC, CRIS, CPIA

Agency Principal