Florida

BUSINESS INSURANCE FLORIDA
Florida Insurance License: L067932

Starting a small business can sometimes feel like rocket science: a complicated process full of unknowns and dangers. Sometimes, you don’t even know where to begin.

But if you’ve ever been to Cape Canaveral to watch a space shuttle or rocket flight, you’ve seen firsthand how worthwhile all that hard work can be. Launching your Florida-based business to new heights can be your own heroic adventure – challenging and thrilling at the same time. And you probably won’t even need to worry about Hohmann transfer orbits or how to safely combust nitrogen tetroxide and hydrazine (unless you really are getting into the aerospace industry, which is great, because Florida is the perfect place for it).

Florida is already home to nearly 400,000 small businesses, and it’s easy to see why. It’s not hard to strike the work-life balance when you have a beachside view. Plus, Florida boasts the fourth-largest economy in the U.S., hosts nearly 90,000,000 visitors per year, and is ranked one of the lowest tax states in the union.

On top of all this, Florida is responsible for 40 percent of the world’s orange juice supply! You’d be hard pressed to find a better spot to start a business. But just like a rocket launch, risks come with any business enterprise. Make sure you have the appropriate small business insurance to protect your investments so you can enjoy all that Florida – and the cosmos – can offer.  

Keeping Premiums Low for Florida Businesses

  • Consider excluding yourself from your Workers' Compensation plan. If you insure only your employees, you'll cut down on the costs of your policy.
  • Work with industry-trained insurance agents. When you work with an insurance agent who understands your business's risks, you can rest assured you won't pay extra for bells and whistles you could do without.
  • Carry Umbrella Liability Insurance. Want to give your policy limits a boost? Instead of raising each policy's limits individually, purchase an Umbrella policy, which adds millions more in coverage for a relatively low-cost premium.

Florida: A Sunny Place to Launch Your Business

In Florida, the GDP is high, the tourism industry has a $67 billion impact on the state's economy, and corporate taxes are relatively low (5.5 percent). (For more stats on Florida's economic environment, check out, "Florida Quick Facts," courtesy of StateOfFlorida.com.) With so many economic advantages to building a business in Florida, it can be easy to overlook some of the potential drawbacks of the area.

Like many states along the Gulf Coast, Florida is vulnerable to hurricanes, floods, and severe thunderstorms. The whims of Mother Nature mean that Florida-based businesses always have to be prepared for potential disasters if they want to curtail losses.

Give yourself some peace of mind by purchasing a Florida business insurance policy.  Appropriate coverage can spare your small business from property losses, lost revenue, and liability lawsuits. Here, we'll discuss the benefits of carrying General Liability, Property, Professional Liability, Workers' Compensation, and Employment Practices Liability Insurance.

Florida Business Insurance Licensure Information

In Florida, insurance agents, agencies and brokers are licensed by the Florida Department of Financial Services Insureon is licensed in Florida as BIN Insurance Holdings, LLC (NPN 15752926) for Property & Casualty Insurance (License #L067932). You can verify our licensure with the Florida Department of Financial Services by entering our Florida state license (L067932) into the form field labeled "License ID Number."

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