The Various Types of Commercial Insurance in Florida
Business owners and managers can be excused for being confused about the various amounts of different insurance coverage types. While some insurance policies cover the product or service sold to a customer to defend against warranty issues or damage caused by what was sold, other policies cover property loss from the theft while other coverage options only offer coverage when an employee gets injured on the job. It is common for a company to have at least four or five different policies for the operation of a business and then need a custom short-term policy for one-off special projects that come along from time to time.
When a property fire occurs for a Fort Lauderdale, FL company or business, the first thing to do is make sure anyone involved is safe and unharmed. After the initial risk has subsided, the issue involving property damage and loss assessment can be addressed.
According to Coastal Wealth Insurance, LLC, this type of financial impact typically falls under the property loss casualty category, protecting a business from unplanned risk. It’s the same kind of protection that would apply to a structural accident, weather, theft, and other similar incidents. Business/commercial insurance, on the other hand, focuses more on the activity of the business and how it impacts a customer or client. It is not intended for property damage or loss associated with an unplanned destructive event or natural disaster. This difference can be confusing for new business owners looking for a one-stop, comprehensive type coverage.
To make sense of the above, Fort Lauderdale, FL businesses can contact the staff at Coastal Wealth Insurance, LLC for advice and answers. Business protection can be confusing, but there is clear guidance available to help make sense of it all.