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Commercial Liability

for Bradenton, Sarasota, Lakewood Ranch and Beyond

What You Need to Know

General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers the general liability exposures of a business. It is a standard policy that business owners across all industries must have. It protects you during your day-to-day operations with limits broken down into per occurrence and aggregate per year amounts. Depending on the industry you conduct business in, your liability exposure is usually determined by employee payroll/subcontractor costs, total gross sales, or total square feet. General liability policies are auditable, and at the end of a policy term companies will compare the projected figures with the actual payroll or sales number.

Depending on the type of business you operate there are other types of liability insurance, in addition to general liability, that may be necessary:

Professional Liability Insurance (Errors & Omissions)

  • Errors & Omissions (E&O) covers professionals for errors or omissions that cause damage for their clients. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, architects, engineers and technology companies. Bradenton Insurance recommends that all professional and technology companies have E&O coverage.

Employment Practices Liability Insurance (EPLI)

  • Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, Bradenton Insurance recommends considering this type of coverage.

Directors and Officers Insurance (D&O)

  • D&O insurance covers directors and officers of a company, board, or organization for negligent acts/omissions and for misleading statements that result in lawsuits against the entity. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
Garage Liability and Garagekeepers Insurance
  • Garage liability is specialized liability insurance for business owners who operate auto dealerships, auto repair shops, carwashes, etc. Garagekeepers insurance provides these same business owners protection against damage to vehicles in their possession.

Since some type of liability insurance is needed for every business owner, it’s critical to make sure you have the right combination. Bradenton Insurance works with businesses of all sizes and specializes in helping you determine what coverage and limits will properly protect your business. 

Want to find out more about your Business Insurance options?

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