How To Find Business Insurance in Florida

If you own and operate a business in FL, then you will need to purchase coverage. In fact, business insurance in Florida will help you protect all of your assets and yourself from financial disaster. Below we will discuss what is included in a policy.  

What does business insurance in Florida consist of?

A policy will usually consist of different coverages combined into one. A policy will protect your business from a number of perils. For instance this can include claims resulting from fires, theft, and other. Your company will also be protected from claims that stem from bodily injury and property damage liability.

Below lists different types of coverages when it comes to business insurance in Florida. Remember this is what’s covered in a typical policy, if you think you need to purchase more coverage, speak to an agent.  Some of the most common types of coverages for small business include the following.

Types of FL Business Insurance

  • General Liability Insurance – General liability insurance covers costs that are related to injuries that have occurred to visitors on your property.  Property damages are also covered.
  • Property Insurance – This will cover your business property. This includes your building, all of your equipment, inventory, and other things that may suffer from damages. Commercial property insurance can also help cover the costs of repairs or replacements when necessary.
  • Professional Liability Insurance– Professional liability will be able to help cover your legal costs. It provides coverage if you break the legal terms of a client’s contract, you misinterpret a client’s revenue cost, or if you miss a deadline.
  • Cyber Liability Insurance – This is a newly required coverage by the Florida Information Protection Act. This will protect you against cyber breaches and attacks.
  • Business Owners Policy – BOP can be purchased if your business is eligible. This will combine general liability and commercial property insurance at a lower rate. However, your business must be a low risk industry and you must have less than 100 employees.
  • Workers Compensation Insurance – Florida businesses must purchase workers compensation if they have more than 4 employees. This coverage will be able to pay for medical fees and lost wages caused by injuries that have occurred on the job.

It’s essential that you purchase business insurance in Florida from someone online so you are protected. To get started, you first need to understand how much coverage you need, then proceed to collect quotes. Now that you know some of the different coverage types, you can find the best policy for your needs.