Why is Commercial Liability Important?

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commercial liability

As a business owner, you know that commercial liability insurance covers you from your own mistakes. Whether the mistake was real or only perceived as a mistake by a customer, liability insurance helps you out when you find yourself in legal hot water. If you’ve struggled to fully grasp just what a liability policy does and does not cover, you’re not alone. Here’s an easy reference that will help you understand the importance of commercial coverage for your business.

What Does Commercial Liability Cover?

Commercial liability covers legal fees, investigatory charges, and potential settlements. It often covers bodily injury or property damage for certain types of accidents, and will even cover copyright violations.

There are plenty of risks in the business world. If an employee sues you for wrongful discrimination, or a competitor accuses you of copying their marketing strategy, you’ll want commercial coverage to help you either settle the claim or fight it in court.

What’s Not Covered with Commercial Liability?

Commercial coverage doesn’t typically include employee injuries, punitive damages, or professional mistakes. Punitive settlements refer to money given to an injured party over and above the face value of their injuries (e.g., settlements given for emotional damages).

Business owners need separate worker’s compensation insurance to cover employee injuries and professional liability to cover professional mistakes. (An example of a professional mistake would be a baker who made two cakes, German Chocolate and Chocolate Peanut Swirl, and then sent the swirl cake to the wrong person, who happened to have a severe peanut allergy.)

How Much Commercial Liability Is Enough?

A single lawsuit could cost you tens- to hundreds of thousands of dollars before it’s ever settled. Liability policies have financial limits that you must remain aware of as your business ebbs and flows.

No matter how hard you work to keep incidents to a minimum, it’s impossible to cut liability risks down to zero. Whether you work on your own or maintain a small business with more than 50 employees, it’s important you seek the counsel of a trusted insurance agent to help you decide how much commercial liability is right for you.

homeowners insuranceIf you have questions about how to better protect your business with liability insurance, call Synergy Insurance to find out more about our policies, or visit us online for to get a Free Commercial Liability Quote. Our experienced agents make it easy to find the limits and coverage you’ll need in the event of a liability claim.

Essential Safety Tips for Nighttime Boating

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boat insurance

If you own a boat (or better yet, as the joke goes, you know someone who does),  you’ve probably thought about spending some evenings on the water – especially in the summertime.

It’s a great thought, of course. But, when you’re boating after dark in Florida, you need to think about staying safe, even as you enjoy the stillness of the water and the starry sky.

Here are seven things to keep in mind, both before you hit the water and once you’re out cruising around:

    1. Have a plan – and tools to help if it goes wrong: Don’t go boating at night in an unfamiliar place. You can’t see as well, obviously, so stick to where you know the ropes, so to speak. And because things look different in the dark, make sure you have the correct navigational tools in case you get lost.
    2. Share your plan: Always give a friend or family member your “float plan.” Include where you’re going, your boat’s description and registration information, who’s with you and when you’ll be back.
    3. Check – and dress for – the weather: On top of the other difficulties of boating at night, you don’t want to get caught in a storm if you can help it. And you want to be comfortable, so be sure to bring clothing appropriate for the forecast. A sweatshirt, blanket and extra towels may come in handy, even in the summer.
    4. Do a pre-trip inspection: This is good advice for daytime boating as well, but at night it’s crucial that your navigation lights work, for starters. You also need a horn, plenty of fuel, a radio, a flashlight, flares, fire extinguishers and life jackets for all passengers.
    5. Slow down: Speed is a factor in many boating accidents, and the limited visibility at night makes the water even more dangerous. Remember, you aren’t going to be the only one on the water at night, so know the right-of-way rules.
    6. Pay attention. Know how to monitor the navigation lights of other vessels to recognize which direction they are going. Be particularly cautious about small vessels, such as canoes and kayaks, as well as anchored or drifting boats. Their lights can be easily confused with lights onshore.
    7. Don’t get distracted – or drunk: It’s never okay to drink and operate a boat, so be sure you have a designated driver. And, though you’re out there to have fun, make sure you can still hear the sounds from approaching vessels. Keep the stereo low and your ears open.

While these tips are important, there’s nothing like experience to help ensure a safe voyage. If you’re a new boater or just in an unfamiliar vessel, you may want to put in more hours during the day before tackling an area at night. Even then, start with short evening outings and work your way up to a moonlight ride. And don’t forget to turn on the lights at the dock before you go!

Contact Us!

homeowners insurance At Synergy Insurance Group, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable.

Contact us today to speak with an agent and get a free, no-hassle quote! Our agents are available to help you find the best coverage possible.