Florida Small Business Insurance

If you’re the owner of one of the 2,180,556 small firms in Florida, it’s important that you learn a little about small business insurance in this state. But first, you should know a few facts about the businesses here. Firstly, the small businesses in Florida employ 3,000,167 people altogether. Aside from scientific, tech, and professional services – which is the most popular field across the United States – one of Florida’s most popular industries is the Administrative and Support and Waste Management and Remediation Services sector. This involves the daily operations of businesses and households, including cleaning, security services, the hiring of staff, and waste disposal. Whether your business involves these tasks or you’re in a completely different industry, you need Florida small business insurance.

Florida Small Businesses Need The Following Insurance

Protect your business (GL): Every firm needs general liability added to its Florida small business insurance policy. This is because general liability is the coverage you will rely on when someone gets injured on your business property. So if a customer trips over merchandise in your retail store or a client slips on a wet floor in your business office, general liability will pay for the necessary medical treatment. This might include everything from an ambulance ride to the hospital to physical therapy years after the incident. An additional reason to get general liability is that it will pay to fix any customer’s belongings that are damaged at your place of business.

Insure Your Property (BPP): It’s important to keep the workplace looking its best, which means you need to quickly repair any broken windows or other types of damage soon after they occur. Luckily, the business personal property portion of your Florida small business insurance policy makes this easy. If there is ever a fire, vandalism, robbery, or other incident that damages your business location, BPP will cover the costs.

Employee Protection (WC): Of the millions of small businesses in Florida, 404,951 of them have employees. All of these firms need workers compensation to protect those employees. This coverage will pay for their medical expenses after they get hurt or ill as a result of work. An additional benefit of workers compensation is that it will pay employees their missed wages so they can focus on recovering before returning to work after an injury or illness.

Umbrella/Excess Liability: The general liability portion of your Florida small business insurance policy will cover most incidents in which someone is hurt on your property. But once in a while, such an incident will be so expensive that it will exhaust the limits of your coverage. Adding excess liability to your policy can prevent this issue by increasing those limits, saving you a lot of money in the long run.

Cyber Crime Liability: Cyber crime can happen to any business, regardless of the size or industry. If a data breach or any other type of technology-related crime would derail your business, you need cyber crime liability as part of your Florida small business insurance.