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A business owner joins the Del Toro Distinctive Franchise System to continue her professional and financial growth. Welcome to the family!
Welcome the Spanish community to the Del Toro family. A new entrepreneur joins the Distinctive Franchise System.
Other business owners joins the Del Toro Distinctive Franchise System to continue their professional and financial growth.
Welcome to the family!.
Del Toro Insurance is proud to welcome another franchisee to our Distinctive Franchise System!
As the owner of a successful accounting firm. We are excited to see how her entrepreneurial spirit will drive mutual success.
Please join us in celebrating this new partnership and welcome to the family!.
Another of our best managers leaves the corporate world behind and takes a new step in her career path now as a business owner. Welcome to the Del Toro family.
One of our best managers leaves the corporation world behind and takes a new step in her career path now as a business owner. Welcome to the Del Toro Family.
We are proud to see how this family has chosen to join our Distinctive Franchise System as a life project. We're here to support you every step of the way to success. Welcome to the Del Toro Insurance Family.
One of our Managers at Del Toro Insurance has just joined to our Distinctive Franchise System becoming in the owner of her own business !!! Congratulations on this great partnership!!.
A Friday 12th of wonderful news!! A new franchisee joined our Distinctive Franchise System. The Chilean Community Welcome to the Del Toro family!.
On the eve of July 4, what better news than continuing to expand our Distinctive Franchise System in West Palm Beach. Welcome to the Del Toro family.
Second new franchisee of this blessed Tuesday, join our Distinctive Franchise System. Welcome to the Del Toro family.
Another new franchisee has joined right now to our Distinctive Franchise System. Welcome to the Del Toro family.
Just a few minutes ago, a new franchisee joined our Distinctive Franchise System. The Ecuadorian community welcomes the Del Toro family.
The family continues to grow, minutes ago other new franchisees have just joined our Distinctive Franchise System. Welcome to Del Toro family.
Today, as part of our participation in the Annual Convention of the Florida Association of Insurance Agents (FAIA) held in Orlando, Del Toro Insurance held a seminar this morning to promote the growth of the insurance industry through franchises. Entrepreneurs and business owners participated in the event.
Taking a big step and adding new services, two entrepreneurial businesswomen join our family. Welcome Gordon & Oropeza to Del Toro Insurance family.
Del Toro Insurance
Fomentando el camino hacia la industria de los seguros
América TV captó todo lo que fue el fórum y la celebración de los 25 años de Del Toro Insurance. Con Del Toro Insurance tienes todo lo que necesitas para estar bien asegurado y además crecer profesionalmente con tu propia franquicia. Si eres emprendedor y quieres asegurar tu futuro empresarial con una marca consolidada!! Esta es tu oportunidad, completa el formulario y uno de nuestros agentes se estará comunicando contigo con todas las dudas que tengas para emprender tu negocio.
Annual Convention of the FAIA
June, 2024
Del Toro Insurance 25th Anniversary
Del Toro is a family business and that has defined much of the path it has traveled to this day. The main reason for starting out in this industry has been to contribute to a community that needs us and with which we feel an eternal commitment. Growth would not have been possible without the support and permanent exchange with our community whom we have tried to serve with immense respect.
On the other hand, we have tried to provide a service that is also deeply rooted in family values because we consider that targeting the well-being of families in a society that is transforming day by day is essential. We have simply delivered transparency, honesty, trust and loyalty, which I believe have really been the key to being able to treasure the preference of our clients over the years.
Time really passes very quickly. We began our journey in a small office located in the west of the county. Today we are a solid company with a commercial presence throughout the state of Florida and an increasingly large group of franchisees who have opted to be part of the Del Toro family, making our business model their own. To our pride, the vast majority have been families that have turned to entrepreneurship and that, today, replicate those values of transparency, honesty, trust and loyalty to their clients.
Sep 01, 2022
Insurance is an essential component of running a safe and stable business. It protects you and your company from the economic losses that come with real or even frivolous claims in exchange for a fee to a third-party company. These fees typically come in the form of monthly payments and additionally have deductibles attached to them when the time comes to create an insurance claim.
With the appropriate policies, you can avoid the costly consequences of issues that come with owning a business. However, with a large variety of insurance policies on the market, it can be confusing which ones will bring the most significant benefit to your company. This article will discuss the general liability coverage’s ins and outs. We will teach you what it is, what it covers if you should have it, and how much a policy costs on average. Let’s begin!
What is General Liability Insurance?
On a basic level, general liability insurance refers to insurance that covers and protects business owners and their businesses from third-party claims which involve property damages and bodily harm or injury. With the help of Florida general liability, business owners can rest confidently, knowing they are covered regarding potential litigation, bonds, and settlement costs.
For some, understanding what is covered and what is not covered under a Florida general liability insurance policy may be the source of their confusion. Although you are protected from many accidents, lawsuits, and potential damages with this type of coverage, your insurance won’t pay out for every adverse event.
What Does General Liability Insurance Cover?
With any business, you should always consider the possibility of accidents and lawsuits. These things happen, and when they happen, you want to be prepared. So, when it comes to general liability insurance, there are 4 main categories where you can file a claim. Under these four categories, your insurance agency will step in to help you pay to fight against the situation.
Third-party bodily injury: If a customer experiences a fall or another accident on your company’s property, you can use general liability insurance to cover the bodily injury the customer endured. In addition to the injured individual medical expense, your general liability policy will fund any potential legal expenses that arise if the customer decides to open a lawsuit.
Third-party property damage: Suppose you run a business requiring a contractor or employee to go to a client’s home. Suppose the employee damages the client’s home or valuable items. In that case, you can utilize your general liability insurance to cover the cost of replacing the items or fixing the damage caused to the client’s personal property.
Reputational harm: If you or one of your staff members makes false or highly offensive commentary, your company can be at risk of being sued for slander or libel. With proper coverage, your company can be protected against the legal costs associated with the lawsuit.
Advertising injury: If you run into an issue where your company’s advertisement was a copyright infringement, you could be exposed to a lawsuit. General liability insurance in Florida can help to cover the costs of a legal team and settlements.
What General Liability Insurance Does NOT Cover
When protecting yourself and your company, it is essential to understand what NOT is covered under Florida general liability insurance. So, what are a few examples of incidents that will not be covered under these policies?
Commercial property damage: Although your client’s property is covered under general liability policies, your company’s property is not. If you want to protect your commercial space, you must purchase commercial property insurance.
Workers-related injuries: If an employee gets hurt on the job, the medical expenses and possible lawsuits will not be covered by general liability insurance. More often than not, worker’s compensation insurance is the way to go when funding aid to worker-related injuries.
Intentional injuries or property damage: If damages or injuries are deemed intentional, you will not receive compensation through your insurance claim. Only accidental damages and injuries are supported under your insurance policy.
Employee mistakes/disagreements: General liability does not provide protection against financial losses that result from professional errors or disputes. To be covered against these types of incidents, you must purchase a professional liability policy.
To sum it up, general liability insurance WILL cover accidental incidents affecting the consumer to protect the business from losses. However, it will NOT cover damage to the company property or incidental injuries that occur to an employee (even if accidental). There are several types of insurance policies out there and finding the one that best fits your needs, is optimal for protecting your business.
Should You Have General Liability Insurance?
Now that you know what it is, what it covers, and does not cover, the question is should YOU have general liability insurance? Well, the answer is yes. As a business owner, you should strongly consider being covered by general liability insurance.
Each year about eight million people visit the emergency room for fall-related injuries. 12% of these visits are due to “slip and falls.” That said, the possibility of an incident occurring inside or on your company property is very real. Further, if the injured individual files a lawsuit against you and your business, you could expect to have a settlement of $30,000 to $40,000! That does not even begin to include the legal team expenses of a lawsuit. Although every case is different, the monetary loss can be very costly.
With those statistics at hand, it is highly advised to protect your business from the financial damage that can come with one small accident. So what is the best way to do this? Get a general liability insurance policy today!
How Much Coverage Should You Get?
There are several factors to consider when deciding how much coverage you should get for your company. On the low end, some plans will offer around $300,000 in coverage; on the higher end, you may see up to 2 million in potential coverage.
Speaking directly to an insurance agent is the best way to estimate your individual needs accurately. An agent will work with you to configure a plan that works for you by accounting for:
With this information, an insurance agent can determine your risk level and how much a potential payout would be if an incident ever occurred.
Average Cost of General Liability Coverage
So, what should you expect to be paying for general liability coverage on your business? Again, this estimate depends on how high-risk your company is, its size of it, the number of employees you have, and if you are a part of an LLC or a partnership. When an insurance agent creates a quote for your business, these determining factors are all weighed.
The price you pay for coverage will also determine how much coverage you opt to get. If your agent recommends coverage towards the higher end, you will pay more per month than if it is on the lower end. Your monthly payment is additionally dependent on how much you choose your deductible to be.
However, Florida general liability insurance is made fairly affordable to businesses. It is safe to say that if an accident ever did occur, you would be paying out FAR LESS for your policy than you would if you had to pay any settlement or medical fees out of pocket.
Conclusion
The bottom line of it all is that protecting your company from financial loss should always be a priority as it is beneficial to running a successful and stable company. That said, general liability insurance is a MUST for any business owner. It can help drastically reduce financial loss in the event of consumer-related accidents, client property damage, copyright infringements, or if you or an employee get sued for slander.
Remember, possible settlement, legal, and medical fees come at a much higher cost than those of an insurance policy. So, don’t take the risk. Instead, get a general liability insurance policy to cover you and your company today and feel confident that you will be protected in the occurrence of a serious injury or misfortune.
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