Get the right commercial insurance for your Florida business
Which insurance policies are recommended for Florida businesses?
Small businesses in Florida most often buy these insurance products.
General liability insurance
A general liability policy is important for all Florida businesses. It covers common risks, including customer property damage and injuries. Most commercial leases require this coverage.
- Customer injuries at your business
- Damaged customer property
- Libel and other advertising injuries
Workers’ compensation insurance
Workers’ compensation insurance is required for Florida businesses that have four or more employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Legal fees from employee injuries
Commercial auto insurance
This policy is required for business-owned vehicles in Florida. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.
- Accidents involving business vehicles
- Theft of a business-owned vehicle
- Damage to a company vehicle
Business owner's policy
This policy bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of Florida business insurance coverage.
- Customer bodily injury
- Damaged customer property
- Damaged business property
Professional liability insurance
This policy protects small business owners who provide professional services against legal costs related to work performance. It's also called errors and omissions insurance (E&O).
- Work mistakes and oversights
- Professional negligence lawsuits
- Late or incomplete work
Errors and omissions insurance
E&O, sometimes called professional liability insurance, is common with professional services in Florida. It can cover the cost of lawsuits related to your work performance.
- Missed deadlines
- Accusations of negligence
- Errors and oversights
Cyber insurance
This insurance covers financial losses caused by data breaches and cyberattacks. It can help Florida businesses recover quickly after a data breach exposes sensitive customer data.
- Customer notification costs
- Fraud monitoring services
- Cyber extortion payments
Commercial umbrella insurance
Umbrella insurance boosts coverage on your general liability insurance, commercial auto insurance, and employer's liability insurance when the underlying policy reaches its limit.
- Customer lawsuits
- Auto accident lawsuits
- Employee injury lawsuits
Commercial property insurance
This policy covers the value of a business's physical structure and its contents, such as inventory, equipment, and furniture. Bundle it with general liability coverage in a BOP for savings.
- Fire
- Theft and vandalism
- Weather damage
Verified business insurance reviews
Hear from customers like you who purchased small business insurance.
Which business insurance policies are required in Florida?
State laws affect which types of insurance coverage you need for your small business. These policies are required in Florida, from Jacksonville to Orlando to Miami.
Workers' compensation insurance
Florida state law requires businesses with four or more employees, full-time or part-time, to carry workers’ compensation insurance. In the construction industry, businesses with even one employee must provide workers’ comp.
This policy covers medical bills for work injuries and illnesses. It also provides part of the wages lost while an employee is recovering.
Commercial auto insurance
All business-owned vehicles in Florida must be covered by commercial auto insurance. This policy covers the cost of work vehicle accidents.
Florida's minimum requirements for auto liability coverage are:
- $10,000 property damage liability per accident
- $10,000 personal injury protection
Trucking companies may need additional coverage to comply with regulations.
Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.
How much does small business insurance cost in FL?
Commercial insurance can be affordable for small business owners. Based on policy data from Insureon customers in Florida, the average costs are:
General liability: $55 per month
Workers' comp: $65 per month
Professional liability/E&O: $84 per month
Factors that influence business insurance costs include:
Top professions we insure
FAQs about Florida business insurance
Review answers to frequently asked questions about Florida insurance.
How do I get a certificate of insurance for my business?
Insureon's licensed agents can help you find policies that fulfill Florida's requirements and protect against financial loss. Once you've purchased insurance with us, you can download a certificate of insurance (COI) by logging into your account.
Can my company be held liable for a data security breach?
Yes – that's why cyber insurance is so crucial. Small businesses are a common target of cyberattacks since they often have fewer security measures in place.
Florida's data breach laws require businesses to report security breaches to affected residents, and the costs can escalate quickly. Cyber liability insurance lessens the financial impact by paying for notification costs, legal fees, and fines.
Does my industry affect state insurance requirements?
Yes, your state may have special requirements for business liability insurance and bonds for your industry. You may also need a license depending on the work you do.
Contractors, handymen, carpenters, and other construction professionals often need to carry commercial general liability insurance or surety bonds to perform certain types of work. Having the right insurance and bonds helps you comply with state licensing requirements. Cannabis dispensaries also need to have a surety bond.
Real estate agents and brokers and other professionals who offer advice or services sometimes need errors and omissions insurance, also called professional liability insurance, to get licensed in their state.
Note that cities and counties may have their own laws, in addition to state laws.
How can I save money on Florida business insurance?
As with any purchase, shopping around is one of the best ways to find an affordable option. With Insureon, you can compare quotes from top-rated providers by filling out a free online application.
Other ways to save include bundling policies for a discount, and choosing less expensive coverage options, such as lower limits or a higher deductible. Learn more about how to find cheap business insurance.