What is business insurance? To simplify a complex subject, business insurance is protection for a specific business. That protection comes in many forms. property and liability, loss control and prevention, commercial automobile, umbrella coverage, and more. Running a business requires significant investment and minimizing risk is what business insurance offers to business owners. It is not required by law to always carry business insurance, unless you are an employer, but it is one of the most functional ways to protect business assets.
As the Latest News and Articles section on IIACF.com grows, we are going to share a wealth of information on insurance. The subject is vast and for the sake of this Central Florida Insurance organization, we have an amazing membership base to help us explain the world of insurance. To get this series kicked off, we will break down some of the types of Central Florida insurance available.
If you’re one of the many independent insurance agencies to offer Errors and Omissions (E&O) Insurance to small business clients, you’re likely well-versed in the ways that this type of coverage can provide much-needed protection and peace of mind. You might even be aware that E&O insurance is a must-have for your own agency. Even though E&O insurance premiums can be upwards of $10,000 a year, the coverage is well worth the cost to any independent insurance agency, but a 10% E&O insurance discount makes it even more valuable.