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.
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.
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.
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.
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).
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.
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.
Umbrella insurance boosts coverage on your general liability insurance, commercial auto insurance, and employer's liability insurance when the underlying policy reaches its limit.
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.
State laws affect which types of insurance coverage you need for your small business. These policies are required in Florida, from Jacksonville to Miami.
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.
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 (BOP).
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.
Yes, your state may have special requirements for business insurance and bonds for your industry. You may also need a license depending on the work you do.
Note that cities and counties may have their own laws, in addition to state laws.
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 policy options, such as lower limits or a higher deductible. Learn more about how to find cheap business insurance.